The news about the stock market has been wonderful for a lot of your retirement savings. The portion of your portfolio invested in the stock market has recovered from the thrashing the pandemic delivered and, if it followed the broad market, it has reached new highs.
However, other aspects of the economy aren’t necessarily the most favorable for individuals entering or in retirement:
- Interest rates are still low by historical standards.
- Expenses, such as travel, food and your car, have increased. Home prices have jumped too.
- Federal income tax rates may be going up.
- And, of course, there’s always the possibility of a stock market correction