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Growling Bear Market

On Monday, the economic malaise that’s been causing market volatility received a more formal confirmation. The S&P 500 is now trading down more than 20% from January’s high, entering bear market territory. Along with inflation hovering at a 40-year high, it’s fair to say optimism has been dampened on both Wall Street and Main Street.

But that doesn’t mean you don’t have options. Times like these demand an adjusted game plan. That’s true for monthly spending, your portfolio, and even your job.

Labor and Housing

Starting out with the good news: the job market is hot and, if you’re a homeowner, real estate prices remain elevated. If you’ve been thinking about selling your home, it’s worth weighing the pros and cons. Every situation is unique, but for some people real estate holdings are a source of equity, given the fact that home values have appreciated and housing inventory remains tight.

On the job front, it’s also a good time to evaluate your options. Currently there aren’t enough workers available to fill all the positions employers have posted. That also means it could be a good time to search for openings that offer a potential upgrade in terms of commuting costs or earnings.

Rebalancing Risk

Many investment advisors are talking to their clients about risk management amid the changing environment. Given the recent volatility, some are encouraging reallocation into mutual funds that include dividend-paying value stocks. Again, every individual has their own investment goals and risk tolerance so there is not a one-size fits all approach. The main takeaway is that it’s important to review your portfolio on a regular basis during both the good and not-so-good times.

Although volatile markets and elevated inflation present challenges, many people do have options at their disposal. It’s important to remember that there is no magic bullet for building a solid financial foundation or long-term wealth. Thinking strategically about your options and acting tactically if necessary may be the most prudent approach.

Please understand that this information provided is general in nature and shouldn’t be construed as a recommendation or solicitation of any products offered by SoFi’s affiliates and subsidiaries. In addition, this information is by no means meant to provide investment or financial advice, nor is it intended to serve as the basis for any investment decision or recommendation to buy or sell any asset. Keep in mind that investing involves risk, and past performance of an asset never guarantees future results or returns. It’s important for investors to consider their specific financial needs, goals, and risk profile before making an investment decision.
The information and analysis provided through hyperlinks to third party websites, while believed to be accurate, cannot be guaranteed by SoFi. These links are provided for informational purposes and should not be viewed as an endorsement. No brands or products mentioned are affiliated with SoFi, nor do they endorse or sponsor this content.
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