There was some market volatility stemming from the Feds raising interest rates again by another 75 basis points. We hear you and we know that you might be concerned. And that’s one of the biggest benefits of having an advisor that you can get un-emotional feedback from. Warren Buffett says that “If you cannot control your emotions, you cannot control your money”.

Bear Markets are part of a normal healthy economy. With that said, here are a few things to keep in mind for the rest of this year:
(1) More rate hikes are coming. Officials project the economy slowing to a crawl in 2022, with year-end growth at 0.2%, rising to 1.2% in 2023.
(2) Unemployment is going to go up to 3.8% this year and 4.4% in 2023,

It’s not all bad news, though. This month, the Avantax Portfolio Management Group and advisors had lengthy discussions regarding the economy and market outlook. We continue to believe the Federal Reserve can achieve a successful, albeit turbulent, landing for the economy. Most economic indicators lead us to believe any sort of recession in the U.S. will likely be relatively shallow and much more benign than the recessions in recent history.

This isn’t the first Bear Market we’ve been through here at TimeWise and it won’t be the last. Our long-term clients know that we don’t like making knee-jerk reactions and instead create a strategy that is tailored specifically to your goals and risk tolerance. We make adjustments in the portfolios and look for opportunities when we see them – like lowering the duration of our bonds to limit interest rate risk. That’s just one of the adjustments we’ve made over the last year!

Reach out to us for more tips like these!
At Timewise Financial, we offer more than just money management by helping you define a clear purpose for your future and implement a carefully crafted financial plan that gives you the financial confidence you need to live your meaningful life. If you partner with us, you’re not just investing in growing your money, you’re investing in becoming a better version of yourself as well! Interested in learning more?

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