Are Stocks Headed for a Correction?

What to know about refinancing your mortgage now
July 20, 2021
Retire with Money
Stocks had a lousy Monday, with the Dow closing down more than 700 points (or 2.1%)  in the index’s worst day this year. The S&P 500 fell around 1.6%. So is this the start of a correction, or will shares quickly recover? Who knows! I like to say that predicting the stock market is like forecasting the weather — while prognosticating can fill a lot of airtime, it’s just an educated guess. That doesn’t mean you shouldn’t prepare for the possibilities. You can bring an umbrella if the forecast calls for rain. And you can batten down the hatches if the outlook for stocks is stormy. The best action during a correction is usually no action, provided you’re not close to retirement and your portfolio is well allocated. Either that or doubling down on stocks while they’re on sale. Yet if you’re within several years of retirement, you might consider some defensive moves. A trusted financial advisor can help you decide how to ride out the storm.

Best wishes,
Elizabeth
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

Here are some numbers to put yesterday’s drop in context.

If your current mortgage is over 3.88%, it’s worth serious consideration.

Retire With Money Community News

There was a fun post in our Retire with Money Facebook group this week. One member asked, “Would you share what you are doing in your retirement? I am having the best time of my life.” Along with lots of pictures of outdoor activities — hiking, birding, the beach — here are some of the written responses:

“We've been retired for a long time and what we do has evolved over time. We have traveled, read many books, assisted our children with childcare (but not on a full-time basis), volunteered, done a little part-time work, taken naps, enjoyed long lunches. We have never regretted retiring at 55 and 43.”

“We bought a terrific custom house on a golf course that is open 364 days a year for my husband, the golf-a-holic. Because it was less than half the price of the house where we raised our kids in the SF Bay Area, we are free to travel a lot: a month in Ireland during the summer, a month in Palm Desert in the winter, a month in Hawaii anytime except summer, and time visiting our kids in San Diego and Hoboken.”

“Lots of trips to Home Depot and Lowes”

“Blues/folk concerts, home repairs, delivering Meals on Wheels, and political activism”

Retirement News From Around The Web

Medicare Would Cover Dental, Vision and Hearing Under Democrats’ $3.5 Trillion Spending Plan
While there’s no guarantee the proposal will make it through the legislative process, some advocates are hopeful. CNBC

Are You Having a Late-Life Crisis?
While less well known than its younger cousin, the late-life crisis is a researched phenomenon.  NEXT AVENUE

The 7 Habits of Highly Effective Investors
How many do you follow? BLOOMBERG

Why Steady, Low Condo Fees Should Raise a Flag
In light of the tragic collapse of Champlain Towers, here’s what potential condo buyers should know. NPR

Elizabeth O'Brien is deputy editor at Money. She has covered retirement and health care for nearly a decade. A Brooklyn resident and mom of two boys, she navigates the alphabet soup of Medicare and the New York City subway system with equal ease. You can email her at elizabeth.obrien@money.com and follow her on Twitter at @elizobrien.
This newsletter is free because Money earns a commission when you click or make purchases from the links in this email and on our site. We also receive compensation for some of the products and services featured in this message. Offers may be subject to change without notice. Learn more about how we make money.

Privacy PolicyAdvertise With UsWe're Hiring!

To stop receiving these emails, unsubscribe or manage your email preferences.

Copyright ©2021 Ad Practitioners, LLC. All rights reserved.

Metro Office Park Calle 1, Building 7 Suite 204, Guaynabo, Puerto Rico 00968, USA

Older messages

Why New Investors Shouldn’t Panic Over Monday’s 700-Point Stock Market Drop

Tuesday, July 20, 2021

It was the Dow's biggest decline so far this year. July 20, 2021 INVESTING Why New Investors Shouldn't Panic Over Monday's 700-Point Stock Market Drop It was the Dow's biggest decline

It’s About to Get Cheaper to Refinance Your Mortgage

Saturday, July 17, 2021

The Federal Housing Finance Agency is eliminating its “adverse market fee” — a 0.5% fee instituted just eight months ago. July 16, 2021 MORTGAGES It's About to Get Cheaper to Refinance Your

The IRS Is Sending Extra Tax Refunds This Week

Friday, July 16, 2021

What to know about the advance child tax credit July 16, 2021 It's always unnerving to get mail from the IRS. Whenever I see an official envelope, I worry that some eagle-eyed auditor has caught a

Do I have to keep my first credit card open forever? Forever ever?

Friday, July 16, 2021

plus picky otters + RL Stine July 14, 2021 • Issue #102 Dollar Scholar Dollar Scholar Hi y'all — They say you never forget your first. My first screen name? DanceGal444. My first PG movie in

What Is Whole Life Insurance and How Does It Work?

Friday, July 16, 2021

Whole life insurance is more than just life insurance. It's an investment vehicle that features cash-value accumulation and favorable guarantees. ... July 14, 2021 INSURANCE What Is Whole Life

Is India getting its own digital currency?

Wednesday, July 28, 2021

Finshots Is India getting its own digital currency? A few days back we began hearing whispers about a central bank digital currency (CBDC) and how the RBI is working on it as we speak. So in

Back-to-School Shopping Will Be More Expensive This Year

Wednesday, July 28, 2021

Shoppers should expect shortages and higher prices on computers and other school supplies. July 27, 2021 SHOPPING Back-to-School Shopping Will Be More Expensive This Year Shoppers should expect

Going backwards

Tuesday, July 27, 2021

Bloomberg It was a wrenching first hearing before the special Congressional panel investigating the deadly Jan. 6 insurrection. On that day almost seven months ago, when Congress was formalizing the

🎉 Apple, Alphabet, Microsoft: boom

Tuesday, July 27, 2021

Microsoft has requested permission to smash it | Please eject Apple before fist-pumping vigorously | Finimize Hi Reader, here's what you need to know for July 28th in 3:10 minutes. 🧐 The 1% have

Opinionated: Better Money Storylines Anyone?

Tuesday, July 27, 2021

Plus, retirement dreams and leveling up your career game. ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

Will Robinhood Start Offering Retirement Accounts?

Tuesday, July 27, 2021

7 Things That Are Getting More Expensive July 27, 2021 Every young generation rejects the practices of those that came before. It's a tale as old as time — or at least as old as baby boomers not

[New post] Slow recoveries, endogenous growth and macroprudential policy

Tuesday, July 27, 2021

BankUnderground posted: " Dario Bonciani, David Gauthier and Derrick Kanngiesser Following the global financial crisis in 2008, central banks around the world introduced tighter banking

Why cigarette companies want you to quit smoking

Tuesday, July 27, 2021

Finshots Why cigarette companies want you to quit smoking In today's Finshots we talk about why Philip Morris wants to stop selling cigarettes Business The Story Jacek Olczak, the CEO of Philip

Bitcoin Prices Soar on Speculation Amazon Will Soon Accept Cryptocurrencies as Payment

Tuesday, July 27, 2021

A job posting offers a tantalizing clue. July 26, 2021 EVERYDAY MONEY Bitcoin Prices Soar on Speculation Amazon Will Soon Accept Cryptocurrencies as Payment A job posting offers a tantalizing clue.

China wipeout

Monday, July 26, 2021

Bloomberg Beijing's intensifying crackdown on its own technology sector is being felt across global markets, erasing $769 billion in value from US-listed Chinese stocks in just five months. On