Curious about what's happening in the stock market? Every month, the alooola® team summarizes the key takeaways in a quick, easy-to-understand article!
What Do I Need to Know?
Market
•The beginning of 2022 was painful for the stock market, with the S&P 500 falling -20.6% in the first 6 months, for the worst first half since 1970.
•In June the market had bottomed out, but July brought an incredible rally.
•In fact, July 2022 was the best July ever with a +9.2% return.
•By mid-August, things were looking up with the S&P 500 having its fourth straight week of gains, the longest weekly winning streak since November.
Don't Stop The Party!
•Unfortunately, the market rally "party" has seemingly come to an end.
•The Fed is raising interest rates with the hope of slowing down the economy and consequentially bringing inflation back down to Earth.
•Many investors are worried that this news will tip the economy into a recession.
•History shows us that even a recession may not be as bad as it sounds.
•In fact, the average US stock performance during a recession was +1%, and just 1 year after a recession the return increased to an amazing +24.5%!
Cocktail Party Facts
•The median net worth of married couples 25 to 34 years old is nearly 9x the median net worth of single households.
•The stock market’s worst month—September—will soon be upon us. The S&P 500 index has averaged a 1% loss in September, dating back to 1928. Last year, stocks fell 4.8% in September.
Financial Wellbeing
401(k)
•If you're planning to make a career move, don't make the mistake of leaving your 401(k) behind. While your employer may let you keep the money in your old plan, it's all too easy to forget about it.
•Rolling the money over to your new employer's 401(k) or an IRA is a pretty straightforward process and a direct transfer is the easiest way to do it.
•This process saves you the pain of taking a check for your old account with a 20% tax withholding and an additional 10% penalty if you are under 59 1/2.
Want more details?
Watch this 2-minute video on what else is happening in the stock market!
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Disclosure: alooola® is a branded investment advisory service provided by Glen Eagle Advisors, LLC, an SEC Registered Investment Adviser. The Glen Eagle Advisors brochure provides an explanation of the service and its fee structure. Material presented is for informational purposes only, and is not meant to be advice to any individual. Talk with alooola® to see how this information may apply to you. Consider your current financial situation, tolerance for risk, and investment objectives before you invest funds in securities through alooola®. For a more complete explanation of the alooola® service, please visit www.alooola.com. This email includes factual data based on articles published by Reuters, Wall Street Journal, Barrons Magazine, Apollo Chief Economist Research, BofA Global Research, MFS Research "By the Numbers", and Bloomberg.
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