According to UBS Global Wealth Management, more than half of the world's wealthiest investors are preparing for a drop in financial markets before the end of 2020.
Roughly 79% of respondents said they think markets are moving toward a period of higher volatility (based on a survey of more than 3,400 high net-worth individuals).
2019 was a great year. The S & P 500 was up 29%. People are in a good mood looking at their 401k balances. Of course, no one can tell you what the market will do in the future but Americans are getting much more complacent and jumping on the bull market bandwagon.
When will we have the next market correction? As I said, this is not something we can predict, but it will happen.
Just be prepared.
You cannot afford to lose big chunks of money prior to retirement whether it’s this year or five years down the road.