In a long-needed comeback week for the stock market, the Dow added 800 points while the S&P tallied 116. Considering the circumstances with rising inflation, supply-chain shortages, and dismal stock market performance in 2022, this was a much needed win for Americans.
On Monday, the stock market seemed to continue on the previous weeks’ losses, logging nearly a 2% loss. The stock market has continued to crash steadily since December, signally a struggling U.S. economy.
It is fairly often that I hear someone say their money isn’t in the stock market because they could lose it all. Instead, they prefer to place their money in high-yield savings accounts (HYSAs), CDs, or a super-conservative fixed income fund. Let’s talk about why this thinking is flawed and how it can guarantee a failure to launch for your retirement.