The Dow dropped 4.4% in January and the S&P was down 7%
We’re quickly giving back the gains we got in 2021.
And with Fed rate hikes and inflation on the table, I’m doubtful we see a runup this year.
At best we muddle through.
At worst?
If you’re in your 30’s or 40’s you can probably ride this out and see your retirement portfolio come back.
If you’re an older person, like I am, the timing of this correction is pretty devastating.
I’ve said it before, but your only security these days is being able to out-produce and out-earn the troubles that high inflation and a devaluing dollar create.
With inflation at 7% (and really, it’s a lot worse than that) if you aren’t getting a 10% raise, you aren’t getting a raise…you’re getting a lower.
And if you have plans on retiring in the next few years, you really need to take some steps to recover the losses your portfolio is going to suffer and create an income source that can out-pace inflation.
Need some pointers?
Let me know. I can help.
