Advice: No one knows where the economy is headed in the new year, so focus on stockpiling cash and investing for the long term
, the Russian invasion of Ukraine, high inflation, rising interest rates and global supply chain issues.“Regarding where the stock market will be next year, nobody knows,” he said. “If someone tells you they know, run in the other direction.”
“Steer clear of fringe and very volatile investments,” he said. “Keep it simple. Stack cash. Contribute to your long-term investment plan.”, director of personal finance for Morningstar, says she’s out of the short-term prediction business.
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