We’ve recently seen all three of the major equity indexes – the S&P 500, Dow Jones Industrial Average and Nasdaq Composite – dip into correction territory, with declines of more than 10% from their recent highs. That’s not to be confused with a bear market, which is defined by declines of 20% or more. In fact, the market has yet to fully recover from the bear market of 2022, which began on January 3 of last year.
Not that this has much to do with long-term equity investors, other than making it easier to find some bargains in the market’s discard pile. If you are trying to accumulate wealth, corrections and bear markets can help you more than they hurt in the long run. But first you’ve got to get past all the gloom-and-doomers who come out of the woodwork in times like these. Our first item below might help give you some helpful perspective.
You can pay attention to market forecasters, or you can pay attention to history. Only one of them is on your side. (Reading time: 4 minutes)
Where do you stand compared to the rest of the country when it comes to income, net worth, debt, home ownership, and investing? (Reading time: 3 minutes)
A new rule says pre-tax contributions to retirement accounts no longer count as income in determining how much financial aid your child qualifies for. (Reading time: 3 minutes)
Money has the power to make more money over time – if you are willing to do your part. (Reading time: 4 minutes)
Withholding taxes on a Roth conversion is a questionable strategy – especially If you are younger than 59½. (Reading time: 3 minutes)
Here’s when it makes sense – and when it doesn’t – to pay off your mortgage once you’re retired. (Reading time 6 minutes)
The system needs fixing – and soon – but contrary to what many people think, Social Security is not running out of money. (Reading time: 3 minutes)
For example, it isn’t free, you don’t always have to sign up when they tell you to, and most of the time, it won’t help you outside the U.S. (Reading time: 5 minutes)
Try this plan to see how much money you can keep for yourself over the next six months. (Reading time: 7 minutes)
When Byron Wien talked, Wall Street listened. And now we won’t get to anymore. (Reading time: 7 minutes)
Words to the Wise
“Never retire. If you work forever, you can live forever. I know there is an abundance of biological evidence against this theory, but I'm going with it anyway.”
– Byron Wien
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