Global Economy, Inherited IRA's, Arthur Brooks, with Client Circle Guest Katy

All right, so let's roll into our first segment, and that's just news of the week.

I mean, the market is at all-time highs, and yet the world, as you have mentioned before, Steve, it just gets more and more uncertain today.

There's just some chaos.

People near or in retirement can take prudent and meaningful steps to protect and grow their wealth.

So we wanted to unpack all of that today.

So the market record highs.

What is going on? We keep thinking we're going to see some kind of roller coaster effect, a dip or two.

We haven't seen it.

But we're gonna.

But we can't get lulled into complacency.

That's a big thing.

But, you know, some weird things are happening at the same time.

The market keeps on hitting record highs and at the same time.

Inflation keeps on getting worse and the number of people working is less.

So unemployment's going up.

It's a problem.

So the labor market itself, it's cooling according to July's employment report that showed that it came out softer than expected.

And at the same time, the market keeps on going up.

The large company profits, they're doing well, but many households are feeling less prosperous because people aren't working as much and prices are going up.

So here's the takeaway for this.

Ready for this one, Morgan? I'm ready, I'm ready.

So a record stock market does not mean that people that are near retirement or in retirement should automatically get in and have that FOMO and take more risk.

In fact, when markets are expensive and near records like they are right now, the prudent advice is to take some of those gains off of the table and put some of it in a safe, guaranteed, protected place, not take excessive amounts of risk because your greed factor got in the way.

And, you know, you can make the same mistake my dad did.

Let's talk about it.