Anything could have happened in 2024. The uncertainties were immense:
- Outcome of the US Presidential election
- Trajectory of US interest rates and inflation
- At least two active wars with an element of US involvement
- Trajectory of US stocks in this environment
- The US Fed’s interest rate policy (did I say interest rates twice?)
- Numerous other personal and world economic and social events.
The results – to date – in several of these categories have been positive or on-the-way-to-becoming-positive.
- Equity prices and client portfolios overall have performed unexpectedly well
- A relatively manageable interest rate environment
- A cooling in the form of a (hopefully long-term) cease fire in Israel
- Advancements made in Artificial Intelligence (AI), cryptocurrency and blockchain
- The certainty of a newly elected US President Trump.
Amidst an optimism surrounding these developments, the operative word to wrap up the year might be caution.
Markets tend to prefer certainty which was evident in the immediate aftermath of the US Presidential election. The short- and intermediate-term future presents a myriad of undecided events, challenges and opportunities (read: uncertainty). On the personal finance front, confirming several details can be key to maintaining an optimistic outlook. Two good places to start:
- Confirming an asset allocation that takes into account both personal cash needs and opportunities to keep up with future growth and inflation.
- Understanding spending needs today and into the future.
There are less than two weeks remaining in the year. An early Happy Hanukkah and Merry Christmas! …And GO IRISH!
This material has been prepared for informational purposes only and is not intended to provide, and should not be relied upon for, tax, legal or accounting advice.