September Could Be Rough on Your Retirement Portfolio

Also: The Average Credit Score Didn't Go up This Year — for the First Time in Over a Decade
͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ 
September 6, 2022
Retire with Money
If you’re watching the stock market and eyeing your own portfolio in dismay, stop. Back away from whatever trading platform you use, and take a deep breath.

Yes, it’s been a bumpy year, the kind that defines investing generally and motivates people to avoid investing altogether. Yes, there was a rally in August after the highs of June. Now it’s September, a traditionally harsh month for investors. The S&P 500 index fell 4.7% a year ago in September. The previous year, the S&P was down by 3.9%. Since 1950, the S&P 500 has shown an average decline of 0.5% in September, according to the Stock Trader’s Almanac — the worst month of the year. And this year has been an especially wild ride.

So what should you do?

Nothing. If you’re decades away from retirement, you’ve got decades for your portfolio to recover, and it will. Over and over, the data bears this out. The stock market returns.

What if you’re getting close to retirement? The advice is the same. Don’t touch.

If you are already in retirement, if you absolutely must, withdraw as little as possible. Try to avoid selling at a loss. There’s no reason to withdraw everything you have.

In just a few months, we can look forward (fingers crossed) to the so-called Santa Claus rally, the tendency for stocks to rally over the final trading days of December and into the new year.  The Stock Trader’s Almanac notes it has produced positive returns in 34 of the past 45 years, at an average return of 1.4%.

For more on what we might see from September’s stock market, check out Mallika Mitra’s explanation of the September effect and what moves you should make.

— Jill Cornfield, deputy editor

P.S. If you got this newsletter from a friend, sign up here for email delivery to make sure you don't miss the next issue.

 

Timely Retirement News, Insights and Advice

 

During the first year of the pandemic, credit scores saw a jump. Now, amid high inflation and rising consumer debt, they're holding steady — and that's not necessarily a good thing. The national average FICO credit score sits at 716, which is still an all-time high but is unchanged from a year ago, according to a new report.

 

For a longer-term outlook, Mallika Mitra gathered opinions and forecasts from six investing experts. The economy is still highly uncertain. Inflation keeps rising despite the Federal’s Reserve’s attempts to keep prices under control by raising interest rates, and the housing market keeps getting more expensive as mortgage rates soar.

 

After two years of double-digit price growth in the housing market, buyers are finding out $1 million just doesn’t stretch as far as it used to. The typical million-dollar home purchased in the second quarter of 2022 was smaller and older, and had fewer bathrooms compared to houses sold for the same amount before the pandemic, according to a new analysis from real estate platform Zillow.

 

A mortgage is one of the biggest financial commitments you’ll ever make — and one you’ll likely be paying off for years. Finding a reputable lender and a loan that fits your needs is essential. Our picks offer competitive interest rates and a range of loan products that cater to different needs.

 

Sign up for Money Moves

 

Money Moves
Sam Sharf
Every Saturday, Money real estate editor Sam Sharf dives deep into the world of real estate, offering a fresh take on the latest housing news for homeowners, buyers and daydreamers alike.

Subscribe here

 

Retirement News From Around the Web

 

Despite Recession Fears, Most 401(k) Investors Haven’t Changed Their Portfolios. Here’s What Advisors Suggest
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Beyond Stashing Cash in a 401(k), Real Retirement Planning Means Thinking Deeply About the Life You Want to Live
WALL STREET JOURNAL
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