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By Rich Weiss - July 12, 2018
There's a lot to like about the current economic environment, starting with corporate earnings; they're still growing at a healthy pace. Employment in the U.S. is not only strong, it's as good as we've seen it in nearly 50 years. And even with a variety of headwinds that might have toppled markets of the past, equities are more than holding their own.
That being said, you can count me as part of the "cautiously optimistic" crowd. Here's why: consumer spending and real disposable income aren't growing at robust rates, and it makes me question how much more steam we have left in this bull market run.
We also believe we're entering an investing and economic environment that will be drastically different from what we've gotten used to in recent years. For starters, we're looking at rising interest rates, which could have a significant effect on portfolios that are concentrated in certain types of fixed income securities. For those in—or nearing—retirement, now is not the time to be asleep at the wheel.
Click on my latest video to find out why I don't think passive investing is the best idea as we move into the next economic phase.
Head of Multi-Asset Strategies Rich Weiss is in the "cautiously optimistic" crowd. What's holding him back?
July 12, 2018
Rich Weiss, CIO, Multi-Asset Strategies, addresses a range of topics, including the drivers of return and risk in target-date funds, elements of glide path design and a breakdown of the SECURE Act.
Capital market return assumptions are an essential component of the investment tools and capabilities we deploy to aid clients in developing portfolio solutions.
Understanding the impact of design decisions on retirement outcomes.
The opinions expressed are those of American Century Investments (or the portfolio manager) and are no guarantee of the future performance of any American Century Investments' portfolio. This material has been prepared for educational purposes only. It is not intended to provide, and should not be relied upon for, investment, accounting, legal or tax advice.