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261. 2025 Market Outlook: Navigating the Year Ahead
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Curious how to navigate the stock market in 2025? Join us on this episode of A Wiser Retirement® Podcast as we share our 2025 market outlook. We cover key topics like market performance, predictions, diversification strategies, emerging technologies, economic challenges, and how to navigate external factors shaping the financial landscape.
Related Podcast Episodes:
- Ep 235: Investing in Index Funds: Benefits and Strategies
- Ep 182: Investing for the Long Haul: Creating a Retirement-Focused Investment Strategy
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- Tips for Investing When You Have a Variable Income
- Does lump sum investing beat dollar cost averaging?
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2025 Stock Market Outlook
Speaker 1I could definitely see mid to high single digit returns for next year. And again, I think it just all depends on how I shouldn't say quickly, but how the administration is able to put their changes in place and how fastly they're able to sort of get their agenda initiatives running.
Speaker 2Welcome to a wiser time of podcast. Are you curious about how to navigate the stock market in 2025? I'm Casey Smith. Today I'm joined by the king of data, andrew Pratt. Each week, we bring you practical advice on retirement, investing and planning for your financial future. Let's get started.
Speaker 2Andrew how are you Good? How are you Good, are you so? We are venturing into 2025 now and you know I'm a little concerned, mostly because everything that I'm reading from all the analysts that are important, uh, are paying a really rosy picture for 2025. Rosie, I mean, yeah, and I say this because everyone said 2021, there's going to be a recession, and there was not. Everyone said in 2022, the market would be up 10%. Easy, it was not Right. So, anytime everyone agrees maybe that's the problem. Obviously, there's always the doomsdayers out there, but you're usually trying to sell gold or a subscription or a fund, fund or something right.
Speaker 2I mean, 2024 was a good year, um up double digits, right. So what? What's what's happening for this year? What are, what are some risks that we do you think that we're gonna have?
Speaker 1yes, I, yes. I mean you know, as you said, 2024, it's been a very solid year, can't complain about being above 20%, you know, in any given year for the market performance. So you know, I think, some risks that are out there. You know, obviously we have a new administration coming in, so just kind of the uncertainty revolving around you know what policies are going to get done and how that's going to sort of change the dynamic in Washington, and then like how long will those changes lead to? You know whether it's economic impact to GDP or you know like how, how things will play out. So I think that's definitely a risk and sort of causing some uncertainty, uh, to overhang in the markets.
Speaker 1Obviously, uh, you know the markets had very strong performance um, the past two years.
Speaker 1So just the fact that and you know I will say some of that performance is justified from earnings growth, like earnings growth has for the most part kept up, uh, and you know and sort of somewhat justify this price appreciation.
Speaker 1But just, I think a big risk out there is if you know companies, especially these bag seven, these technology companies, if they're not able to kind of continue with their earnings growth, you know that pace that there could be sort of a cooling off period. And then you know, I think, just in general, the national debt. You know I feel like I keep on seeing data points around. You know X amount like of interest has accrued in this period, and just you know, I think you know, if there's not a plan to sort of tackle that, you know, at least in the near term, I think ultimately that could just sort of lead to some, you know, contractionary period for the US of Weiser's finest, all concerned about political changes and cabinet picks and what the view is saying about economic policy, which I think that's kind of laughable, that people would actually listen to the view for their economic news, I mean you know, warren Buffettett, you know right.
Speaker 2So so the um, uh, I guess I'll say really clearly uh, we, we don't take a whole lot of stock in, uh, all these political fears in in relations to markets, uh, and the. The bottom line is that we, um, we know that companies are gonna make money, right, whether they're gonna have to sludge through regulation, uh, in order to do it, or whether or not it's just going to be a little easier, uh, they make money, companies make money. If they don't make money, guess what? They go to business. They find a way, or, you know, they go out of business. They just they pivot right, exactly.
Speaker 2So it's, it's, uh, and we've had other conversations too with clients about this top heavy, magnificent seven. Uh, you did some research on that and I thought it was very interesting. You found that actually we're more diversified now in the S and P 500 that we have been in the past, right, uh, in the past there's been maybe three companies that occupied the top third of the S and P, or especially the S&P Russell 1000, I guess is a little bit different, has a little different weightings, I guess, but anyway, so what are your expectations for 2025 when it comes to let's just start with US equities?
Speaker 1Yeah, us equities and, as you mentioned, I guess another concern is that market concentration. That's kind of been, you know, topical currently. But yeah, looking at other different, you know sort of high frothy. You know concentrated periods, you know, I would say, right now, as you mentioned, you know we are a little bit more diversified. But also to you know, these companies are, you know, high cash flowing companies, very profitable If you just compare, you know, now to you know, 2000,. You know the tech bubble, you know, I think it's about 50% higher today in profitability. You know, from return on equity, from profit margins. So you know, yes, we are concentrated.
Speaker 1And also two valuations aren't. They're high but they're not as high as they were then. So it's something to take note of, but to me it's not, you know, a huge concern at the moment. But you know, looking out for 2025, I was looking at the Wall Street analysts kind of forecast, you know, for earnings growth and for S&P 500 price targets. It's kind of interesting.
Speaker 1So today you know, evaluate the forward valuation which is just, you know, price over expected earnings multiple is about 24 times. That's a little bit higher than history. But you know, going back to these analysts forecasts, they're expecting about a 13 percent. The median average, or the median, is about a 13 percent earnings growth for next year and it's also the median is about 13 percent price target. So if that were to hold true then that wouldn't really change the valuation multiple that much. So that 13% price target implies about a 6,600 price level on the S&P 500 index, so about 800 points above where we are today.
Speaker 1Again. So I think that's kind of I would say it's maybe a little optimistic, but I could still see us doing about. You know, I think Goldman Sachs had a good research report and their expectation was about 8%. So you know, I think I could definitely could see mid to high single digit returns for next year. And again, I think it just all depends on how I shouldn't say quickly, but how the administration is able to you know, to you know put their changes in place and how fastly they're able to sort of get their agenda initiatives running.
Speaker 2Well, that's a good point. I guess I'm trying to pull politics out of the conversation, but we'll put it back in. We have what TechWorld would be A and B testing. So we've had an A test of the Trump administration. We had a B test of the Biden administration. We had a choice of continuing Biden's policies or changing back to Trump policies. Overwhelmingly, voters said Trump.
Speaker 2So could we not go back to what happened the first three years, which are normal? Covid year was not normal. We go back to the first three years and understand what tariffs did with the stock market, what some of the lowering taxes did to the stock market. I believe in the end it was all favorable. I remember that we had to bail out some farmers. I believe, uh, we had to help us steal a little bit, maybe, uh, but in the end, uh, there were.
Speaker 2Those were all very positive years for the uh, for the stock market. So there ought to be tailwinds uh, ahead, I would think, because, uh, the Trump administration should be pro um, pro business, uh, publicly traded business specifically. And I guess one thing I'll add is, unlike other presidents, that you typically say, yeah, we don't control the stock market, because they just don't understand it, uh, he would step out. So you see what the stock market did today. I did that and and probably, uh, probably, he didn't actually, but, um, he seems to pay more attention to that than other presidents, from what I remember yeah, and I think we're gonna have a podcast on this, um.
Speaker 1So I don't want to get too in the weeds here because I think people are still sort of digging deep in and putting thoughtful analysis together on this. But yeah, I will say you know Trump is very. He references the stock market a lot and his 401k. I can't tell you how many times he's talked about that, right, but I do think you know it's a benchmark for his success and I think he would pivot if things weren't going the way or if the market didn't.
Speaker 2If the market was selling off favorably, he would find a way to change policies to get those positive results.
Speaker 1Yeah, and I know it's not as easy just to quickly pivot, but I think there's going to be probably just some conflicting forces here. You know, yes, tariffs might increase inflation, but from everything I've seen so far, it's like a one time inflation bump and it's not going to bring inflation back to 7%. But it didn't cause inflation last time. Yeah, it might be like a one time, like I don't want to use the word transitory Right.
Speaker 1But, it might be like a one-time effect and from what I've seen, it would be like 0.2% or 0.3, like very minimal. That could, you know, easily, kind of pass through. And then, yes, there should be additional tax cuts for consumers and corporations. That obviously should help consumption, which you know is mostly um comprised of the consumer, uh and consumption.
Speaker 2So, yeah, I think there'll be some conflicting forces here um, I mean, I can see why inflation would be concerned, though, because if you don't tax over time, you don't tax waitresses, uh tips right and you at the same time um, um, uh, you're going to.
Speaker 2You want interest rates to be lower. Uh, home rates come down. People have more money now. Uh, I could see that being a good thing, but at the same time, people do need more money, Right? Uh, there there's the people who are making, who make less than a hundred thousand dollars a year. They feel very squeezed. I'd say probably less than 200,000 a year. Feel squeezed.
Speaker 1Yeah, I, I, you know I do kind of feel bad for the younger generation, um, but because, especially with on the home purchase side, because you know, everyone was hoping that mortgage rates would come down and, um, they just haven't.
Speaker 1And that's really because mortgage rates are tied toward, tied more to the longer end of the uh us interest rate curve, like the 30 year, yeah, um, but are in the 10 year, but, um, you know, I think hopefully there'll be some flexibility on that front. But but also too, I think the majority of homeowners, the reason why the economy has done so well, is their personal balance sheets are actually in a lot better shape now than they were back in 08, because a lot of them have locked in these low interest rates and they're able. Yes, while you, while credit card delinquencies are taking up, auto delinquencies are taking up, overall their net worth has increased and, yes, that's not necessarily a good thing, but from a net worth standpoint and a personal balance sheet standpoint, they're actually in a lot better shape now than they were 15 years ago a lot better shape now than they were, you know, 15 years ago.
Speaker 2So what are you seeing out there that would be negative, meaning maybe reports that you've read, or people concerned over the next 12 months, which is a very short time we don't even focus on 12 month returns, we're focused on five plus year returns. But what are you seeing over this next year that you think could be, you know, reversing our fate as far as market performance goes?
Speaker 1Yeah, I think you know really. Again, the national debt to me is a little.
Speaker 2But in the national debt more of like a 10 year concern at this point.
Speaker 1Yeah, but I think you know now that the interest payments are very high. Yeah yeah, it is more, a little bit longer term. I agree. I think that's something that could just kind of more, you know, weigh on Congress more, a little bit Over the next 12 months. I would say. You know a little bit about the commercial real estate. You know refinancing, especially now. I mean I think you know Fed fund rate cut expectations have been lowered lately and you know these smaller businesses aren't able to kind of. I think some of the smaller businesses were hoping that they would get a little bit more relief on the floating interest rate, you know, on those interest rates, but now if they're not able to sort of withstand a higher rate, if that were to happen, that could be a concern, and so I think that's probably one of the main concerns that I have. So just commercial real estate.
Speaker 1Commercial real estate and small businesses and like smaller cap stocks, if they're not able to withstand these higher interest rates. Uh, if that were to play out, yeah what about?
Speaker 2how do you think a war? Because we've got several, two wars, in particular brewing that could go out. Um, I guess that doesn't really affect us, unless it affects national debt, obviously, but it really affects the stock market so much?
Global Market Trends and Investment Strategies
Speaker 1yeah, unless it's like a, you know, unprecedented type of world war. I, there's always geopolitical conflicts out there. Um, you know, to me it it seems like tensions have been easing with um. You know Ukraine and Russia somewhat. Um, hopefully, you know, those could continue. Um, so I feel like there's always um. You know Calis overseas that are, and thankfully, you know, even though some of the revenue in the S&P 100 companies are coming from overseas, these companies are largely insulated from those conflicts. So, you know, as far as the market performance, yeah, there might be some short-term corrections and pullbacks, but I think overall it shouldn't really, you know, deter the, you know sort of just throw off the trajectory of the market growth. But, yeah, unless it's something like major.
Speaker 2I guess that's true. The key players in the wars right now make up less than one twentieth of a percent of the total portfolio.
Speaker 3Right, so it would have to really get out of hand for that.
Speaker 2Probably, if anything, it would affect the international side of the portfolio more. You already saw that with increased natural resource prices you know gasoline things like that in Europe which affects them. We have a very underweight allocation to international.
Speaker 1Do you?
Speaker 2see international getting better next year, Every year. The outperforming asset class is supposed to be international and every year it's pretty much not.
Speaker 1No, it's. Everyone you know always touts that or says that international is cheap. But maybe it's cheap for a reason.
Speaker 1It's been cheap relative to the US market for a long time. We're underway international versus our peers and most large institutions on the equity side. It's still important to have in the portfolio because it does add diversification benefits. You do get exposure to different regions and different types of companies across the world. But but really I don't see it. Really I thought a high interest rate environment would be more beneficial to international companies.
Speaker 1I could see, and what you're starting to see here in the US too, is the yield curve you know some of these sovereign nations yield curves is starting to uninvert, which means the short end currently is higher than the long end, which is not good for capital markets. I could see, you know when it uninverts, that means the short end. You know decreases on the. You know when it un-inverts, that means a short end. You know decreases on the. You know lower to the longer end.
Speaker 1I could see like if that were to continue to happen and it's a more normal type yield curve which is very beneficial to capital markets, that actually you know international could outperform. Could you know potentially outperform because they're more heavily weighted in financials, like they? I think they're. You know just X? U S? Um exposure. They have like about two and a half times the financial stock exposure that we do in the SP 500. So that that could be one way where international could have a little bit of performance. But overall, um, I really don't see the dollar weakening over the next 12 months. That's not really good for international, it's not really the best for multinational companies the S&P 500, but it hurts international more. So because of that I really don't see international outperforming US.
Speaker 4International, outperforming US. Are you curious why annuities keep coming up as a potential investment option? People are often told that annuities can effectively mitigate investment risks and help secure their financial future. However, annuities often benefit the salesperson and might not be the best choice for you as a consumer. To learn more about the various types of annuities, the negatives of owning them and better investment alternatives, we have a free ebook on our website just for you To download our ebook. Buyer Beware, why Do they Keep Trying to Sell you that Annuity? Simply click the link in the episode notes or visit wiserinvestorcom slash guides. Now let's get back to the episode.
Speaker 2You still keep it in the portfolio to be for diversification, and just because we think one thing doesn't mean it flips overnight, right?
Speaker 1So well, yeah, and international, they had a slight performance, I think, in Q3. So, again, like we want exposures to all different areas in the global marketplace and, and that's to help, sort of insulate portfolios when these other type of exposures outperform and we can't predict that.
Speaker 2When you think about bonds. Bonds have been kind of on a wild ride the last few years starting in 2022, you know, fed, with the feds cutting rates. When that happens, uh, bond, um, bond yields are going to decline, but the value of the bond goes up, correct, correct, so so in you know any reason why we have to be owning bonds and portfolios in 2025 definitely.
Speaker 1Um, again, it all depends on your risk tolerance and you know, for those clients that are, you know, more risk averse and that are in their distribution phase and retirement that don't really, you know, it's not necessary for them to take on that volatility or the extra risk. Bonds are very important. They provide, you know, insulation from these down markets and especially when you're drawing on your portfolio to fund retirement expenses and needs, you want that buffer in your portfolio. And also, you know too, you don't want to sell equities at the worst time because they can bounce back sharply. So bonds, you know a few things that we can. That we would do, especially with investors that hold more diversified portfolios with bonds, is, you know, if there are pullbacks, you know we could always rebalance and, you know, look to rebalance back into equities if bonds became overweight and then and also tax all service there too. But it is very important. Bonds are uncorrelated. It helps improve your risk adjusted return and make it a smoother ride for portfolio return over the long term.
Speaker 2Everyone's been waiting for this section Bitcoin and crypto so we we do have Bitcoin and crypto inside of our portfolios. The max percentage is around five percent for our most aggressive investors. Been a good ride post-Trump election. We were early adopters. Thanks to your leadership, when do you see crypto, Bitcoin over the next 12 months?
Speaker 1Yeah. So there's just like with S&P 500 forecast. There's a wide range of forecasts. I mean, I think you know Kathy Wood, who's the CEO of ARK Investment Funds, has a crazy forecast for Bitcoin over the next year in the millions. But a lot of price predictions I've seen, especially on the Bitcoin side, you know. I think it's not unreasonable to have a $150,000 price target for next year and then I would say to even amend that if the US government does adopt a Bitcoin reserve, I could even see that almost doubling to even $300,000. I've seen things. A very respectable person in the industry say even up to $500,000 next year.
Speaker 2I don't want to go too rosy on that, but um, it's still, uh, the most volatile asset class you could own right now. It is outside of a loan to your brother-in-law, so so it's, uh, you have to use it in very small, very small doses, uh, in the portfolio but, I'll tell people. I tell people I think it's a great investment. Put a little bit in close your eyes. Wait 10 years.
Speaker 1Yeah, and that's important. It's a long-term hold and I think, especially since the election results, the crypto asset class has just been hammered with regulation. It just has not been an easy road for the industry as a whole because of regulation and I think well, I don't think it's been handled with regulation.
Speaker 2I think, uh, the sec has doing things with no regulations. The problem there's no regulation but every, at every turn, and point there's, there's, they've been attacked, right? Uh, whether it be by Congress or certain people in Congress, or by the former SEC chair, it's been a very big uphill battle with very little guidance. Yeah, that's probably a better way to say it. That's been the problem.
Speaker 1But, yeah, I think some of the optimism is around more favorable or less restrictive stance on the industry and more, I guess, more open to adoption and being part of the US government currency framework or asset mix framework. But, yeah, I think, just in general, just for corporations too, and I've seen a prediction out there like there's going to be anticipation of a lot of crypto related companies ipoing next year. Um, so, yeah, I think it's um, there should be tailwinds from that and then, um, you, obviously there's. We won't necessarily get into it, but there's a lot of good positive supply demand, uh, economics for bitcoin in general.
Speaker 2Um, that again, some people go I don't understand it, I'm not going to invest in it. And that's not a bad, bad philosophy, right? Um, if you don't understand something, you definitely shouldn't should invest in it. But uh, we've, we've led a few families about 15 of our of our client base seem to be investing in that. I will say, uh, picking. I don't know if it's going to be a 2025 theme or not. I think it's over the next three to four years. But watching development of AI and now quantum computing, which I didn't really think I'd know anything about- but after a few podcasts, a few white papers.
Speaker 2I feel like, oh man, I, I.
Speaker 1I should go to.
Speaker 2I should have gone to Georgia tech. Like you, I should have majored in quantum engineering.
Speaker 1I wonder if that's going to be a degree in the next year.
Speaker 2Yeah, there are classes I didn't know if there was a major or not but then nuclear energy obviously is back and being debated. China is having some, I guess more smaller nuclear type facilities built, and here we're more about the big nuclear facilities built. I think all of those things in mind lead to more efficiency, and with more efficiency you're able to do more with less, which means you should have more profits, more revenue, which ought to turn into more taxes, which hopefully helps if we're good stewards of that revenue, hopefully help solve our long-term problems. What I don't subscribe to is this you know we're going to hit this. You know 50, 60% tax bracket in the future because we have to be able to afford these payments. I think people are missing these big themes that are happening in the US right now really the world too.
Speaker 1Yeah, and that's one thing we didn't talk about with the S&P 500 is profitability. And another reason why we've sort of gone up and to the right is profitability is profit margins are near their highest level in the past 20 years. I think we're close again to about 13% and the 20-year average is a lot lower around. Well, I shouldn't say a lot, but relatively a lot lower. Yeah, tempered 10 to 11. So, and I think, um, these companies have been a bit of beneficiary of ai and synergies created by, uh, you know, reduced costs because of that yeah, and I don't know that people are really measuring that.
Speaker 2Uh well, I mean, I guess they are because the market's up, right.
Speaker 4So somebody is some very smart people are doing that.
Speaker 2Um, you talked about risk earlier. Uh, national debt. I mentioned maybe war creeping in. I I I think inflation could be. Uh, another issue if we keep giving out free stuff, um, we're not really free, so we're giving breaks the people who need breaks, they're probably going to spend the money. They're going to save the money. At the same time, we have the highest credit card debt we've ever had as a country. That's coming right out of covid, where it got became the lowest. Uh, people have very much lived day to day, don't they? Right from from saving ton of money to oh, I can spend money now, and you just let them spend money yeah so, so that that's a concerning to me, but personal debt as well as the international debt.
Speaker 2When you look at we'll kind of wrap up with this when you look at framing our Wiser portfolios. So you're now talking to the Wiser client base now, but as you're framing these portfolios for this year and beyond, how are you trying to position those? What are? What do you try? How are you trying to position those?
Speaker 1Yeah.
Investment Strategies for Long-Term Growth
Speaker 1So you know, in general we want to frame the portfolio.
Speaker 1You know it's a long-term mindset and it's really overall, you know, I'd say I don't want to say market neutral, but just not taking too big of a bet, deviating from like broad market exposures. And what I mean by broad market exposures is like the SPF hundred, the Us bond market, which is the barclays aggregate index, um, and yes, there's maybe some tweaks here and there to get a little bit more exposure. But again, when we make these tweaks, they're they're also long-term position moves, like we've had a, you know, a technology focus fund that gets a little bit more exposure to the technology names, and that's because we are big believers in this space. But you know, there's also, you know, a bond fund. You know where we think this manager is better to navigate, the you know the fluid dynamics of the bond market that an index might not necessarily be able to capture. So it's, you know we're making some tweaks here and there, but overall it's portfolios are positioned to capture these broad market exposures at a low, a low cost too.
Speaker 2Yeah, I, I try to explain to people. It's like we like winning. I hate losing and really the only way you can lose and investing is if you start doing these themes where you think you're smarter than the market and if you buy the S and P 500 as a core holding.
Speaker 2It really is self healing over time there are time periods where other strategies would have worked, but they're very short in nature compared to a 20 year time horizon and it's it just doesn't make sense to me to make bets to hope to beat an average that only 2% of fund managers beat nationally over a 20 year period. So the value of a financial advisor, I think in the future and now currently, has been in the financial planning. We talk about that with Missy and Shana, but there is some method to the madness in in the asset allocation side. Obviously we're not just buying it and just setting it and watching it.
Speaker 2We do other things right Tax loss, harvesting, rebalancing, making strategic pivots like with a tech technology or with a free cashflow. We have one fund that focuses on on markets, on stocks, free cashflow. Those are all things that help add value to the to the portfolio. And then what we give our flat fee clients is just an abbreviated version of that that they can implement on their own at home or through our flight path program. So it's it's very, it's very interesting to me to see. So we have a database. This the database is called Orion. You can look into there and you can see our portfolio performance versus thousands of other firms who also use the orion accounting platform.
Speaker 2It's one of the largest in our business, uh, and we're always in the top quartile and I always kind of chuckle at that because, like man, every time I meet another advisor they have some crazy strategy and all it is is they're, they're spinning their wheels to come out to be less than average every single time.
Speaker 1And then also there's firms that are too tactical, like a firm I came from where they would make under an overweight calls on equity and you know you might have the smartest team or economists in the world you know, preaching that you should go underweight equities at this point and then.
Speaker 2But then turn out to be wrong and very lagged the market, and then how do you make up for the lag? You have to then be really right about something else, exactly so yeah it's the same way.
Speaker 2Something else I thought I'd mentioned on the podcast today you sent me a chart. I actually put it on my LinkedIn. I think it was on my X feed as well actually put it on my LinkedIn, I think it was on my X feed as well, which my X feed, by the way, is a bullish pilot, so, but the I in bullish is actually a one. So, anyway, look me up if you're on X. I don't have any many friends on X. I just I just started using it, but I think I posted it there as well. But the the uh, the chart is the market movements after trading hours versus during trading hours.
Speaker 2And for all these people that think that they can, oh, we things get volatile, I'm gonna move my money to cash and I'll put it back in later when what they're really telling you is when they feel better, because they don't have any economic data supporting one thing or another.
Speaker 2But they say the dow's at uh 40 000 and it's sold down through 35 000 and they say, okay, well, I'm gonna sell, um, but if it goes, if it goes down, I won't participate in that, but when it comes back up to 35 000, I'm gonna buy back in. Well, it was like 90 of the stock market movements are all done at night, meaning that, if you're not, I think it's even higher than that, higher than that. So it's the open. So when, when the market opens the next morning, if it opened, if you, if you sold at 35 000 and the next morning it opens at 36,000. You missed out on a thousand points, right, and there's no way to get that back. There's no way you could really buy that either, unless you're into the futures market and no one, no one at home. If you're, if you're running scared, you probably don't have a future strategy in your back pocket, Probably not hedging.
Speaker 3They don't, they don't talk about that on the view.
Speaker 2So they don't talk about that on the view. So, yeah, just the buy and hold game is just way undervalued. And when things get volatile, that's why you have bonds in your portfolio, that's why you have two years or three years worth of cash in reserve for your expenses. So you don't have to talk to an irrational market. You can step away and just kind of let it all settle out. The worst case scenario is it takes a couple of years for it to come back, but no more than two historically. So anyway, well, andrew, thank you for this and the outlook. I don't think we got too many hard predictions in that, but this is not what we do. We're not going to pick a sector that we like. We're not picking a fund that we like. We're not going to pick a sector that we like. We're not picking a fund that we like. We're simply just kind of looking at across the landscape going. Is there anything that we need to navigate away from, or is there any small tweaks in the portfolios that we can make to be able to make sure we're achieving market-like returns or slightly higher? You're doing a good job of that, so thank you for taking care of us. Yep, no problem, all right.
Speaker 2Thanks for listening to this episode. We have a few other episodes talking about index funds and strategies and benefits episode 235. Also talking about investing for the long haul, that's episode 182 from a while ago. We also have YouTube channel A Wiser Retirement Tips for investing when you have variable income and does lump sum investing beat dollar cost averaging. That's one of my favorite little pieces there on YouTube. A couple of charts for you as well, talking about sector performance over presidential elections. That'll be in the show notes as well as earnings estimates for quarter four, 2024 and onwards. Thanks for listening and we'll see you guys next week.
Speaker 3Thanks for listening to a Wiser Retirement Podcast. We hope you enjoyed today's episode. Make sure to subscribe wherever you're listening. That way you don't miss any new episodes. We'd also appreciate if you could leave a rating and review. If you have any questions about anything that was discussed today, head to wiserinvestorcom and reach out.
Speaker 3This episode was produced by Rachel Dotson. This podcast is strictly for informational purposes only and is not to be considered as investment advice or solicitation to buy or sell any financial products, securities, digital assets or any other investment vehicles, or a basis to buy or sell any financial products, securities, digital assets or any other investment vehicles, or a basis to make any financial decisions. Wiser Wealth Management Incorporated is a registered investor advisor with the SEC. The host and or guests may personally own securities, digital assets or other investment vehicles mentioned on this podcast. Neither the host nor guests of the show are compensated for their participation and no referral fees are paid to or received by any host or guest for clients, listeners or similar interests. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial advisor, tax professional, insurance professional and or legal professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.