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2024 Stock Market Insights - What Lies Ahead – DM 84

What's the stock market going to do in 2024? Hey, it's Jon from Financial MD, welcome to today's Didactic Minute.


The answer is? I don't know. The same answer I give every year; the same answer everybody should give because nobody does know, okay? All you know is what you can control. The answer is… Should you be in the stock market? Ninety-nine percent of you – yes; okay. Get as aggressive as you're comfortable with in those retirement accounts. We want that money to grow and I'm assuming I'm talking to young physicians today. And if not, talk to your financial planner. See what the right allocation is for you – how much in stocks, how much in conservative stuff; how much in risky, non-risky, etcetera. But that is the question you should be asking; not what is the stock market going to do.


The stock market's going to go up and down, just like it has every year. Stock market's going to go up over time; just like it has every decade – every 10, 20, or 30-period. So if you've got more than five years until retirement, you should have a bunch in the stock market and mutual funds and safe diversified things. But again, this is not financial advice tailored individually. I'm just telling you, for the Financial MD stock market outlook, the answer is – I don't know. Now what we do know is that we were supposed to have a recession, okay? Inflation was high. They upped the interest rate. These are often recipes for essentially breaking the economy so that we can have a recession, people will stop spending as much, and banks will stop lending – that's what's supposed to happen. It hasn't yet. The stock market did 12%-plus last year, depending on which Index you look at. Could that happen again? It really could. There's nothing that's going to say. I've even talked to Ph.D. economists at universities who are kind of baffled by the way things are going.


So, I don't like to comment on the stock market because I truly don't know and I truly don't even have a gut and I truly don't even waste time with that because that's not my job. My job is to do financial planning for young families and retirees and say what do we need to do right now that we can control. So, that's what I would encourage you to do. If you're looking for a stock market outlook, frankly, you're looking at the wrong place. There are plenty of analysts with Goldman Sachs or Morgan Stanley who will take guesses, but let me give you this little hint. Last year, 95% of those people were wrong. So, what do you do? You just do what you can do and do what you can control and base it on history and evidence and the things that we can predict.


So, hope that was helpful. Check out our podcasts. We're coming out with new ones every two weeks. We've got different guests on there. We've got me and Dr. Smith and all sorts of other ones. And if you like this – if you feel like our stuff is good – please share it. I'd love to do more of this and let us know what you think. If you want other topics, always love feedback on that as well.


It's Jon from Financial MD, we'll see you next time!


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