Jackson National put out an interesting short article on the sequence of returns as it pertains to retiring. The article compared 2 persons who were retiring 3 years apart but with the exact same starting value in retirement accounts and the exact same withdrawal amounts per month.
The inflation conversation is still bifurcated into transitory or longer-term camps. Tyler and I are now more in the longer-term camp than transitory based on the various data points that we are watching.
The markets are due for a correction and 7-10% is quite possible at this stage, but like pruning a tree to keep it healthy or going to the gym and experiencing pain is considered healthy, a correction is too.
We are seeing evidence of the rebounding of the economy, but at this point, our thoughts are that the markets have already priced in the recovery on the vast majority of equities. Does this mean that we cannot or will not see continued growth of the market conditions?
Bank Of America’s Global Research stated that the number of mentions of “inflation” during the earnings calls has more than tripled year over year. We are seeing a tug-o-war between those who believe this inflation period will be transitory and those who believe it will be long term.
The Mutual fund portfolios saw the largest rotation we have ever seen from the best of category to the back of the line, resulting in numerous new names and fund families this quarter.
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