During strong market times like we experienced in 2024, or times of uncertainty, are you inclined to be more like a tortoise or a hare? As we begin another year, it’s a perspective worth remembering: meaningful growth is often measured over decades, not months or even years.
We find ourselves in a period where sentiment could be aptly described by Charles Dickens’ classic line: “It was the best of times, it was the worst of times...” Today’s narratives are seemingly contrasting.
It’s been termed the “greatest wealth transfer in history.” As the last of the Baby Boomers reach the age of 60 this year, and the oldest approach 80, an estimated $1 trillion of wealth has begun to change hands.
It has been said that “Time is the exponent that does the heavy lifting. The common denominator of almost all fortunes isn’t returns; it’s endurance and longevity.” As we look ahead to a new year, don’t overlook the impact of compounding and time on investing success.
One of our modern-day challenges is that technology has ushered in an era of instant communication and connectivity that seems to amplify awareness and sensitivity. There is never a shortage of negative news and today is no exception. Despite economic resilience and growth that has exceeded expectations, we may be distracted by new uncertainties.
“Plan on Living Past Your Life Expectancy” — this is the headline of a recent article in the popular press that suggests many of us will live longer than we expect. In fact, many of us systematically understate our chances of living to age 75 by 10 percentage points or more.