The Retirement Made Easy 2022 Midyear Market Update, Ep #105

<p>What does the stock market look like right now? As I’m recording this episode, the S&P 500 is down around 20% for the year. In general, it’s a good gauge of the US stock market. The S&P 500 is broken down into different sectors such as healthcare, utilities, energy, consumer staples, financials, and more. The only sector that is positive—or has made money—in 2022 is the <em>energy sector</em>. So far, energy is up 27% YTD. </p> <p>Should we be concerned with how the market is performing? While I usually don’t answer this type of question, it’s coming up again and again from current clients. So in this episode of the Retirement Made Easy podcast, I’ll share a midyear market update AND answer some listener questions. If you’re worried about the state of the market—don’t miss this one!</p> <p><strong>NOTE</strong>: This episode contains my opinions and observations. Any facts and figures are based on research from LPL Financial and JP Morgan’s Guide to the Markets. </p> <p> <<<<<<<<<<<<<<<PLAYER CODE GOES HERE>>>>>>>>>>>>>>>></p> <h2>You will want to hear this episode if you are interested in...</h2> <ul> <li>[2:00] My three-step retirement plan process</li> <li>[3:51] Two things to keep in mind when looking at your portfolio</li> <li>[11:15] LPL Financial research</li> <li>[13:26] How is gold doing in 2022?</li> <li>[14:14] Listener question #1: How should Kathy claim her social security benefits?</li> <li>[16:10] Listener question #2: Should Jim buy a hybrid long-term care policy?</li> <li>[19:19] Why I refuse to work with Wells Fargo</li> </ul> <h2>Two things to keep in mind when looking at your portfolio</h2> <p>I have reviewed <em>many</em> portfolios over the last two years. I keep seeing the same problem: they are too heavily weighted in one sector. Technology and healthcare have had a great run, but diversification helps you over the long run. My first piece of advice would be to make sure you aren’t too heavily weighted in one sector or stock.</p> <p>Secondly, when the market is down, make sure your port