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The Retirement Rise 3.27.2023
The job market remains strong, stocks barely budged, and start with strength.
This Week’s Good Financial News
The job market remains strong despite bank failures and a great deal of economic hemming and hawing.
According to the WSJ:
Claims have remained at or below the 2019 prepandemic average of about 220,000 for several months. The trend held even as large employers in interest-rate sensitive industries such as technology, finance and real estate cut jobs…
…But even with the job-cut announcements, there hasn’t been an uptick in filings for unemployment benefits. Hiring has been strong this year and the unemployment rate is trending near a half-century low. Some workers may be forgoing applying for jobless assistance because they are quickly finding new work or are receiving generous severance packages.
Though the current environment often feels recessionary, the job market's strength is a giant gorilla in the room, signaling that things are still pretty good out there.
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An Investment Note for Retirees
On the theme of it often feeling like a recessionary environment, you would think stocks were down dramatically the past month. But, on the contrary, most broad stock indices were flat, and bonds increased over the period.
Look, the market doesn’t always go up. We know that. But it’s incredibly challenging to predict what events or new information will lead to market declines and what circumstances will lead to nothing more than a shrug.
This is why we invest in the long run and focus on what is in our control, our investment portfolio, our financial plan, our savings, and our spending.
A Thought on Retire on Purpose
The general language around personal finance is fear-based. You are overspending. You aren’t saving enough. You aren’t investing for your future. You need more money. You don’t have enough insurance. You’ll never retire. You’ll run out of money.
Focusing on what’s wrong doesn’t shift behavior. At worst, we become so overwhelmed with our problems that we helplessly throw our hands in the air. At best, we engage ourselves in a brief burst of change that fizzles out just as quickly. A mindset of negativity begets further negativity.
So please do something for me. What’s going right for you financially? What strengths do you have financially? Why? Who taught you that? How did you develop that habit?
How can you take your strengths and expand on them?
Start here, not with lack, but with strength and positivity.