No. of Recommendations: 6
Scott Bessant, the treasury secretary, set all minds at
ease over the weekend on Meet the Press on NBC News.
Snippet from The Guardian: Asked what he would say to
Americans close to retirement who had just watched their
lifetime savings drop significantly in recent days,
Bessent called that a “false narrative”.
“Americans who want to retire right now, they don’t look
at the day-to-day fluctuations of what’s happening,” Bessent said.
What a relief! Seems that this retirement board serves
little purpose. But, being a bit on the slow side, I'll keep
on reading.
vez
No. of Recommendations: 9
Perhaps his point was this: if you're thinking of a 30-year retirement, the day to day moves in the stock market are just noise.
I see a lot of hand-wring on the social media: "my 401k is in the toilet!". Folks seem to forget the S&P500 has doubled in the last 5 years, almost tripled in the last 10.
Volatility is the fee we pay for those high returns.
