Best investment strategies for younger and older investors
Equity markets have been on a hot streak the past week, but uncertainty still looms around a variety of factors, including future economic data, upcoming corporate earnings, and the outlook on interest rate cuts. How should investors be positioning themselves in this environment? Wealth! welcomes Providence Financial & Insurance Services President Anthony Saccaro to discuss investment strategies for different stages of life. Saccaro emphasizes that the economy is "not out of the woods yet" regarding a recession. He notes that while the economy is slowing, the labor market is cooling, inflation is trending downward, and the Federal Reserve is expected to cut rates, the implications for individuals "depends on the phase of life you're in." For younger investors in the "accumulation phase," Saccaro recommends continuing to invest consistently through "dollar-cost averaging." In contrast, retirees should shift their focus from wealth accumulation to "protecting wealth." Saccaro advises these investors to concentrate on income-generating investments, such as those that provide interest and dividends. For more expert insight and the latest market action, click here to watch this full episode of Wealth! This post was written by Angel Smith
