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A Second Look: Four Retirement Rules Of Thumb

By Steve Parrish, The American College 

Rules of thumb are common in financial literature. Who can disagree with “buy low, sell high” or “decrease your risk exposure by diversifying your portfolio”? Author and retirement planner Dana Anspach, CFP®, RMA®, observes that these kinds of rules of thumb can be useful to point the way, but beyond that, may lose their value. In her Great Courses series on retirement, she notes that if you want to go from New York to California, a valid rule of thumb is to head west. Once you have this direction in mind, however, you will need something more specific – a road map, atlas, or GPS – to get you to your desired destination.

Another concern is that some financial rules of thumb are more opinions and guesses; plus, some can be outdated or just plain wrong. They may send you in the wrong direction.

In the area of planning for your retirement, there are a number of rules of thumb that commonly appear in articles and seminars. Let’s test four of the more common guidelines to determine their worth in retirement planning.

Rule of Thumb 1: You will need 80 percent of your preretirement income to live on when you retire

This guideline has been around for decades, and it is showing its age. A key factor in this supposed 20 percent decrease in needed income is that once you retire, you will not have work expenses such as commuting and dressing for business. Obviously, this assumption is an anachronism for many. Another element in the 20 percent retirement income haircut is you will not be paying into Social Security and your mortgage will be paid off. The assumption that your mortgage will retire at the same time you do may be questionable. Some studies find the number of individuals who transition into retirement with a mortgage has nearly doubled in the last 30 years. However, the rule of thumb has some validity in that you may have a decreased need for income because you will cease contributing to your 401(k) plan. Whereas 30 years ago, employers were funding defined benefit plans for their employees, now most workers are funding their own retirement with 401(k) contributions. At retirement, that drain on your income would end.

The 80 percent rule has been fraught with issues since its inception because it ignores the dynamic spending patterns of most retirees. Early in retirement, many retirees will spend as much or more as they did in their working years. Much like the recent boom in travel hastened by the easing of the pandemic, these newly minted retirees feel free from their 9 to 5 work sentence, and they want to travel and enjoy their free time. This costs money. Conversely, once retirees are truly elderly, they are less likely to spend their retirement income on travel and entertainment and, barring unforeseen medical expenses, they will need less income. Targeting an across-the-board income goal of 80 percent of preretirement income when that retirement can last upwards of 30 years seems so inflexible as to be of little use.

Rule of Thumb 2: Your retirement should begin at age 65

This rule of thumb has little value other than as it relates to health insurance. Many prospective retirees, even those who are affluent, plan to put off retiring until they can lock in their medical insurance through Medicare at age 65. While this is a motivator to delay retirement, it should not be seen as a reason to accelerate retiring. There is no reason to stop working at 65 if you don’t want to. You can continue to work past age 65 and still be eligible to sign up for (and indeed you should sign up for) Medicare.

The age 65 rule of thumb is also losing meaning because retirement has become more of a process than an event. For many, the days of a retirement party, a gold watch, and trip to the rocking chair are gone. Retirement may mean leaving your career job but picking up part-time work. It is not uncommon to elect benefits such as Social Security and Medicare on dates that are different from your career retirement. For many, there is a blurred transition from employment to retirement. So, age 65 is just that – an age.

Rule of Thumb 3: Withdrawing four percent of your retirement savings each year will provide you with an income you will not outlive

This can indeed be a useful start towards addressing the “how much can I take each year” question – something that is often as misunderstood as it is quoted. Would-be experts talk of “the four percent rule” as a talisman that locks in a secure retirement. Unfortunately, there is no such quick fix to retirement planning, and its creator, Bill Bengen, never intended it to be used in this way. The basic idea of this rule of thumb is that if past market history is any indication (which is debatable), at age 65 you can take four percent of your retirement capital each year, adjusted for inflation, and not run out of money for at least 30 years. As a range to be thinking about, this is a useful starting point, but in some ways the exceptions swallow the rule.

First, the math behind this rule is based on past market performance, and it tells us nothing about what the future holds. Second, it is not intended to calculate the ideal amount to withdraw; it is meant as a minimum safe withdrawal. Depending on what year you retire and how the market performs going forward, strict adherence to this strategy could result in taking too little retirement income and unintentionally leaving a huge legacy to your heirs. And, perhaps what is most misunderstood about this rule of thumb is that it assumes a particular investment strategy – a strategy that includes having more than half of your retirement capital invested in equities. Some risk averse investors may not have the discipline or stomach to invest in this manner during retirement.

More recently, there have been concerns raised about the viability of using four percent as the bogey withdrawal rate. Some researchers feel under current conditions the target percentage rate should be lower. First, performance using four percent has not been tested in the more recent market cycles that include the tech bubble and the Great Recession. Further, persistently low bond yields have caused many planners to question whether taking four percent out of retirement savings makes sense when treasury bonds only yield half that amount. Finally, the ultimate question is whether this withdrawal rate is sustainable for a long enough period, specifically for the retiree’s lifetime. It has been over 25 years since this concept was first advocated, and during this period, life expectancies have increased. A 30-year retirement may no longer be a reasonable assumption to use in calculating a safe withdrawal rate.

Rule of Thumb 4: In retirement, you should hold a percentage of stocks equal to 100 minus your age

Some rules of thumb gain credibility because of the number of times they are repeated. The “100 minus your age” rule is right up there with “don’t go swimming for a half hour after you eat.” Just because it is quoted a lot doesn’t mean it’s right.

The basic idea behind this rule of thumb is that as you age, you should lower your exposure to equities because you will not have the luxury of waiting for the market to bounce back. Accordingly, says the rule, subtract your current age from 100 and, voila, you now know how much of your retirement capital should be invested in stocks. The trouble is that there is no foundation for the rule’s underlying principle. The amount of risk in your portfolio depends on other factors than your age. One’s typical retirement portfolio often includes fixed income from various sources - Social Security from the government, a pension from your employer, an individually purchased annuity. How much retirement income these sources generate will help determine how much risk you can take with your remaining retirement savings. In general, the move you have as a floor of locked-in retirement income, the more risk you can take with your remaining savings. And, this has nothing to do with 100 minus your age.

Another issue is that your legacy goals will play an important part in how much equity you should have in your retirement capital. If it is vital to you to leave a legacy when you’re gone, you will want to weight your savings heavier towards equities. Stocks have a better chance of keeping up with inflation, meaning over the long haul you will likely experience more long-term growth with equities than by leaving your savings in a certificate of deposit (CD). If you do not plan to leave a legacy, invest your money in annuities, and be done with portfolio management.

There are many drivers that affect how you should invest your retirement capital, but the difference between your age and the conveniently easy-to-remember number of “100” is not one of them.

Bottom Line

In retirement planning, think of rules of thumb as easy to calculate guides that help you steer one way or another with your plans. They are basically a number-based form of a heuristic, using a mental shortcut to make a decision with minimal intellectual effort. And that’s ok – as long as the rule has a basis in truth and if it’s used as a beginning, not an end, to deciding the issue in question. 

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President Joe Biden has pledged that his sweeping American Families Plan will only target the nation’s wealthiest individuals, increasing taxes on those in the top 1.8% earning $400,000 annually or higher with the majority of new...

Friday, August 6, 2021

BY DAVID LANSKY, PH.D. JULY 16, 2021 Selling the family business is a social, emotional and psychological event as well as an economic event. Over the past 20+ years, I have advised many families who have transitioned from business...

Wednesday, July 28, 2021

Russell Investments Is the global economy’s uneven recovery leading to more opportunities for equity managers? The answer: Yes, according to our latest quarterly report on equity managers. Our newly released findings from the...

Monday, July 26, 2021

Steve Watson Equity Portfolio Manager July 14, 2021 American Funds, Capitalgroup.com As an investor with more than three decades of experience, the past 16 months stand out in my career as both intensely painful and incredibly...

Monday, July 19, 2021

Posted on June 22, 2021 by John F. Dini, awake@2oclock.com Remote employees can have a dramatic impact on the value of your business. If your exit strategy is to sell to a third party, take some time to think about the areas where...

Tuesday, July 13, 2021

Distributed Ownership Tips for Family Businesses BY DOUG GRAY, PH.D. Family Business Consulting Group APRIL 6, 2021 Many family business leaders describe ownership as a linchpin of their enterprise. Some, fearing family conflict and...

Tuesday, July 13, 2021

Capital Group | American Funds Americans are living longer than ever before. Everyone knows that, it seems, except investors! Retirees frequently underestimate their life expectancy and the number of years they are likely to spend in...

Friday, July 9, 2021

Editor's note: Unlike most of our other articles, this one is aimed at investors. If you’re an advisor, consider sharing this one with them. It seems likely that taxes are going to go up. The Biden administration has made it...

Friday, June 25, 2021

“Legacy is not what I did for myself. It’s what I am doing for the next generation.” - Vitor Belfort When it comes to ownership succession, many business-owning families spend thousands of dollars on attorneys,...

Thursday, June 24, 2021

We’ve all heard the saying caught between a rock and a hard place, which by definition means that when you’re in a difficult situation you may have to choose between two equally unpleasant courses of action. This makes me...

Tuesday, June 22, 2021

Once upon a time, in what feels like eons ago, I boarded a flight from Denver to Austin. Since it was a short flight, I decided to fly as cheaply as possible: I chose a discount airline and searched for the lowest fare I could find. I...

Monday, June 21, 2021

Today, the U.S. Labor Department reported that its core consumer price index (CPI) for the month of May increased by a whopping 3.8% on a year-over-year basis. This marks the second month in a row where U.S. inflation has handily...

Tuesday, June 15, 2021

For business leaders in the United States, there’s something comforting about reflecting on the thoughts of the leaders of our past – the women and men who once stood where we now stand. Knowing they often faced...

Monday, June 14, 2021

Is the active management rebound likely to continue?In a previous blog post, we emphasized our belief that strong stock picking from multiple differentiated skilled active managers, combined with a disciplined approach to valuation, is...

Friday, June 11, 2021

I came in this morning planning to write about the downside of remote work. It isn’t for everyone. In fact, it creates new long-term problems for businesses and will continue to do so. (For a related topic, see my previous column...

Thursday, June 10, 2021

“Time Is On My Side,” is the title of one of the classic rock ’n’ roll songs performed by Mick Jagger and the legendary English band, The Rolling Stones. This bold statement works in a song, but for small...

Tuesday, June 8, 2021

On the latest edition of Market Week in Review, Senior Quantitative Research Analyst Abraham Robison and Senior Research Analyst Brian Yadao discussed the latest macroeconomic data from the U.S., a key gauge of the business climate in...

Monday, June 7, 2021

Today, we find ourselves at an interesting point in the cycle of corporate defined-benefit (DB) plans. Just over a year ago in March, at the depths of the COVID-19 selloff, many plans experienced significant erosions in funded...

Friday, June 4, 2021

There’s no getting around it – employers pay a hefty sum to provide health care benefits for their employees. The average private-sector employer spends an average of $2.65 per hour, per employee, for health-insurance costs...

Thursday, June 3, 2021

On the latest edition of Market Week in Review, Chief Investment Strategist for North America, Paul Eitelman, and Research Analyst Laura Bardewyck discussed the steep rise in U.S. consumer prices, the inflation outlook for the rest of...

Tuesday, June 1, 2021

With major league baseball’s spring training just around the corner, you may already be daydreaming about the smell of cut grass and roasted peanuts, hearing the crack of the bat and the roar of the crowd — just to feel...

Tuesday, May 25, 2021

Will M&A play a significant role in the post-pandemic world? Companies often rely on mergers & acquisitions to transform their businesses by buying, selling or divesting assets, and 2021 is shaping up to be a big year for deal making....

Monday, May 24, 2021

Until April 28, there was no formal tax plan from the Biden administration—only what then-candidate Joe Biden campaigned on. That changed with the release of his American Families Plan and the tax proposals that will fund it....

Friday, May 21, 2021

A Second Look: Four Retirement Rules Of Thumb Rules of thumb are common in financial literature. Who can disagree with “buy low, sell high” or “decrease your risk exposure by diversifying your portfolio”? Author...

Monday, May 10, 2021

By Matt Lanstone, ESG Head of Research and Investing. At Capital Group, we recognize the need — and value — of integrating environmental, social and governance (ESG) insights into our investment process. This objective is...

Monday, October 19, 2020

The Week on Wall Street Stocks treaded water last week amid fading prospects for a stimulus bill, fears of a second wave of COVID-19 cases, and increasing political and regulatory pressures on Big Tech companies.The Dow Jones...

Monday, October 12, 2020

The Week on Wall Street Stocks staged a powerful rally last week, riding a wave of optimism over the prospect of the passage of a new fiscal stimulus bill.The Dow Jones Industrial Average rose 3.27%, while the Standard & Poor’s 500...

Monday, October 5, 2020

The Week on Wall Street Stocks advanced last week, propelled by hopes that legislators may reach an agreement for a new fiscal stimulus package and optimism generated by a few corporate deal announcements and initial public offerings....

Monday, September 28, 2020

The Week on Wall Street Stocks were mixed last week as worries that stretched from Washington D.C., where prospects of a new fiscal stimulus bill dimmed, to Europe, which saw an increase of new COVID-19 cases.The Dow Jones Industrial...

Monday, September 21, 2020

The Week on Wall Street Stocks slipped as the technology sector remained under pressure and a mid-week announcement by the Federal Reserve failed to inspire investors.The Dow Jones Industrial Average declined 0.03%, while the Standard...

Monday, September 14, 2020

The Week on Wall Street Stocks traveled a volatile path last week as investors appeared concerned about the upcoming elections, an uncertain economy, and more delays with additional fiscal stimulus. The Dow Jones Industrial Average...

Tuesday, September 8, 2020

The Week on Wall Street A late week sell-off sent stocks broadly lower as investors took some profits after stocks reached all-time highs earlier in the week. The Dow Jones Industrial Average slid 1.82%, while the Standard & Poor’s...

Monday, August 31, 2020

The Week on Wall Street Stocks advanced relentlessly last week on positive COVID-19 developments, encouraging economic data, and a supportive policy shift in the Fed’s approach to its target inflation rate. The Dow Jones Industrial...

Monday, August 24, 2020

The Week on Wall Street Stocks powered to another week of gains as the S&P 500 and Nasdaq Composite set multiple new record highs along the way.The Dow Jones Industrial Average was essentially unchanged while the Standard & Poor’s 500...

Monday, August 17, 2020

The Week on Wall StreetStock prices drifted higher in an otherwise quiet news week, as a slowdown in new COVID-19 cases outweighed a Congressional impasse on a new fiscal-spending measure. The Dow Jones Industrial Average gained 1.81%...

Monday, August 10, 2020

The Week on Wall StreetOverlooking stalled efforts by Congress to pass a new fiscal stimulus bill, stocks marched higher last week with the Dow Jones Industrials leading the way and the NASDAQ Composite setting multiple fresh record...

Monday, August 3, 2020

The Week on Wall Street Stocks were mixed last week amid a busy week of earnings, some troubling economic data, and seemingly little progress on a new fiscal stimulus package.The Dow Jones Industrial Average slipped 0.16%, while the...

Monday, July 27, 2020

The Week on Wall Street Stocks slipped in the final days of trading last week on higher jobless claims and rising tensions in the U.S.-China relationship. The Dow Jones Industrial Average lost 0.76%, while the Standard & Poor's 500...

Monday, July 20, 2020

The Week on Wall StreetStocks were mixed last week as investors reacted to positive economic data, progress on a COVID-19 vaccine, and the continued nationwide increase in COVID-19 cases. The Dow Jones Industrial Average gained 2.29%,...

Monday, July 13, 2020

The Week on Wall StreetStock prices notched solid gains last week, looking past an increase in COVID-19 cases and any potential economic concerns raised by the trend. The Dow Jones Industrial Average increased by 0.96%, while the...

Monday, July 6, 2020

The Week on Wall StreetIn a holiday-shortened week, stock prices turned higher as encouraging economic data outweighed an increase in COVID-19 cases and a rollback in economic re-openings.The Dow Jones Industrial Average rose 3.25%,...

Monday, June 29, 2020

The Week on Wall StreetA jump in COVID-19 cases dampened investor enthusiasm last week, sending stock prices lower on worries that rising infections could derail the economic recovery. The Dow Jones Industrial Average slumped 3.31%,...

Monday, June 22, 2020

The Week on Wall StreetStocks moved higher last week on news of more Federal Reserve market support and diminished concerns that new COVID-19 cases might lead to another economic shutdown. The Dow Jones Industrial Average rose 1.04%,...

Monday, June 15, 2020

The Week on Wall StreetInvestor sentiment turned negative last week, amid an increasing number of COVID-19 cases in states where reopening has been underway as well as a subdued economic forecast from the Federal Reserve. The Dow Jones...

Monday, June 8, 2020

The Week on Wall StreetA positive jobs report sent stocks soaring last Friday, capping a solid week as evidence of a global economic recovery outweighed concerns over civil unrest and tensions with China.The Dow Jones Industrial...

Monday, June 1, 2020

The Week on Wall StreetThe shortened week, which began with a powerful two-day rally of trading, was enough to drive the markets into another week of solid gains. The Dow Jones Industrial Average rose 3.75%, while the Standard &...

Tuesday, May 26, 2020

The Week on Wall StreetUpbeat comments by the Federal Reserve Chairman and more signs of an economic turnaround combined to help fuel a powerful rally in the stock market last week.The Dow Jones Industrial Average rose 3.29%, while...

Monday, May 18, 2020

The Week on Wall StreetStocks drifted lower last week, weighed down by Federal Reserve Chairman Jerome Powell's unsettling comments on the economy and signs of renewed tensions with China.The Dow Jones Industrial Average fell 2.65%,...

Monday, May 11, 2020

The Week on Wall StreetDespite a historic downturn in employment, stocks managed to climb higher last week as investors were emboldened by the pace of economic re-openings, both here and abroad.The Dow Jones Industrial Average gained 2...

Monday, May 4, 2020

The Week on Wall StreetStock prices ended the week slightly lower, despite news of positive results from a test trial of a COVID-19 drug treatment and several states easing their economic lockdowns. The Dow Jones Industrial Average...

Monday, April 27, 2020

The Week on Wall StreetStock prices bounced around last week as investors reacted to wild swings in the price of oil and reports that called into question the efficacy of two potential virus treatments.The Dow Jones Industrial Average...

Monday, April 20, 2020

The Week on Wall StreetStock prices pushed higher last week as news of a White House plan to reopen the economy and reports of a potential COVID-19 treatment helped the market overcome weak economic data and an ugly start to the...

Monday, April 13, 2020

The Week on Wall StreetThe stock market staged a broad rally this week, buoyed by the prospect that COVID-19's grip on the nation may be easing and news of another Federal Reserve program to help stabilize businesses.The Dow Jones...

Monday, April 6, 2020

The Week on Wall StreetModest declines in stock prices this week masked the volatile inter- and intraday price swings as investors digested poor economic data and a warning from the president that the worst days of the COVID-19...

Monday, March 30, 2020

An open-ended commitment by the Federal Reserve to support American businesses and capital markets along with the passage of a $2 trillion aid package improved investor sentiment and drove a strong rally in stock prices. The Dow Jones...

Monday, March 23, 2020

The Week on Wall StreetThe stock market suffered through another volatile week as it wrestled with the health and economic fallout of the domestic spread of the coronavirus. Swift and decisive actions by the Federal Reserve and policy...

Monday, March 16, 2020

The Week on Wall StreetMarkets remained exceptionally volatile, buffeted by the spreading impact of coronavirus, uncertain responses from federal policymakers, and the sudden drop in oil prices.The Dow Jones Industrial Average fell 10...

Monday, March 9, 2020

The Week on Wall StreetHeightened coronavirus fears, falling yields, and Super Tuesday primary results sent stocks on a rollercoaster ride of sharp price swings, leaving stocks marginally higher for the week.The Dow Jones Industrial...

Monday, March 2, 2020

The Week on Wall StreetStocks fell sharply last week as Wall Street considered how the coronavirus outbreak might influence global business activity and household spending.The selloff became a correction for the U.S. markets. The S&P...

Monday, February 24, 2020

The Week on Wall StreetTraders paid close attention to coronavirus developments and earnings last week, while wondering how the former might eventually impact the latter. Concern over updated infection numbers moderated risk appetite.A...

Tuesday, February 18, 2020

The Week on Wall StreetDaily headlines about the coronavirus had little impact on stock market averages last week. Earnings and mergers had more influence. All three Wall Street benchmarks improved. The Nasdaq Composite rose 2.21%,...

Monday, February 10, 2020

The Week on Wall StreetStocks advanced four days out of five during the past market week, erasing the losses of the week before. The Nasdaq Composite surged 4.04%, the S&P 500 3.17%, and the Dow Jones Industrial Average 3.00%. Foreign...

Monday, February 3, 2020

The Week on Wall StreetStock benchmarks declined for a second straight week as coronavirus news tempered risk appetite.The S&P 500 fell 2.14% on the week. The Nasdaq Composite dipped 1.76%, and the Dow Jones Industrial Average, 2.55%....

Monday, January 27, 2020

The Week on Wall StreetStock prices fell last week as investors considered the potential health and economic risks of the flu-like coronavirus.Foreign stock markets, as tracked by the broad MSCI EAFE index, fell 1.03% for the week....

Tuesday, January 21, 2020

The Week on Wall StreetTraders were in an upbeat mood last week, reacting to news out of Washington: the signing of the phase-one trade deal between the U.S. and China as well as the Senate passage of the U.S.-Mexico-Canada Agreement...

Tuesday, January 14, 2020

The Week on Wall StreetThe market had a choppy five days, with traders reacting to geopolitical developments and weaker-than-expected jobs data. Even so, the three major U.S. equity indices posted weekly gains and continued their...

Monday, January 6, 2020

The Week on Wall Street Stocks descended from record highs Friday, as traders reacted to a U.S. drone strike that killed Iran's top military officer. Oil prices rose more than 3% following the breaking news.[1] Wall Street benchmarks...

Monday, December 30, 2019

What Drove the Markets? Four factors influenced investment performance in 2019: a shift in U.S. monetary policy, the ongoing trade dispute between the U.S. and China, earnings, and the economy. Stocks reached record highs in 2019. The...

Monday, December 16, 2019

The Week on Wall Street The U.S. and China announced a limited trade agreement last week. That news lifted U.S. and foreign stocks, leading to weekly gains. Advancing 0.91% on the week, the Nasdaq Composite outperformed the S&P 500...

Monday, December 9, 2019

The Week on Wall Street Key Wall Street benchmarks were up and down last week – or rather down and then up. A Tuesday retreat was offset by a Friday rally spurred by the Department of Labor’s November jobs report. While the S&P 500...

Monday, December 2, 2019

The Week on Wall Street As November wrapped up, U.S. equity benchmarks advanced. Stocks were again aided by a sense of optimism that a preliminary U.S.-China trade deal could be near. For the week, the Nasdaq Composite added 1.87%;...

Monday, November 25, 2019

The Week on Wall Street Stocks declined last week as mixed signals emerged about the progress of U.S.-China trade negotiations. The three major Wall Street benchmarks all took weekly losses. The Dow Jones Industrial Average declined 0...

Monday, November 18, 2019

The Week on Wall StreetStock benchmarks were little changed for much of last week, but a rally occurred Friday after news broke that the U.S. and China could be closing in on the first phase of a new trade pact. At Friday's close, the...

Monday, November 11, 2019

The Week on Wall Street Domestic and international stocks rose last week. Risk appetite outweighed concerns about the state of U.S.-China trade discussions. The Dow Jones Industrial Average, Nasdaq Composite, S&P 500, and MSCI EAFE...

Monday, November 4, 2019

The Week on Wall Street A better-than-forecast jobs report prompted a stock market rally Friday, two days after traders witnessed another interest rate cut by the Federal Reserve. Both the S&P 500 and Nasdaq Composite ended the week...

Monday, October 28, 2019

The Week on Wall Street The S&P 500 came within 0.1% of a record close Friday. Stocks were lifted last week by positive news on U.S.-China trade negotiations, plus earnings announcements. The Nasdaq Composite posted the largest weekly...

Monday, October 21, 2019

The Week on Wall Street Earnings helped give the Nasdaq Composite and S&P 500 a slight lift last week, offsetting investor disappointment over the small scope of the preliminary U.S.-China trade deal reached on October 11. Blue chips...

Monday, October 14, 2019

The Week on Wall Street Stock prices pushed higher last week, as investors remained hyper-focused on any new developments with the U.S. trade negotiations with China. The Dow Jones Industrial Average picked up 0.91%, while the...

Monday, October 7, 2019

The Week on Wall Street The fourth quarter started with a mixed week for equities. The Dow Jones Industrial Average lost 0.92% for the week; the S&P 500, 0.33%. In contrast, the Nasdaq Composite improved 0.54%. Overseas stocks pulled...

Monday, September 30, 2019

The Week on Wall Street Stocks retreated last week. Traders worried that the formal impeachment inquiry of President Donald Trump might distract White House officials from their pursuit of a trade deal with China, and shift the focus...

Monday, September 23, 2019

The Week on Wall Street Investors reacted to two major news items last week, one far more of a surprise than the other. The Federal Reserve did indeed make a rate cut, matching Wall Street expectations. Drone strikes on two of the...