Stock market volatility and a correction are in the cards for 2022, say a majority of Americans in a poll conducted by Allianz Life.
More than three-quarters (77%) expect the stock market to remain volatile this year and 59% expect a correction, the survey found. In addition, 67% say they are worried that new Covid variants will cause another recession, and 74% say they are concerned about their purchasing power over the next six months. Almost two-thirds, 64%, say their income is not keeping up with expenses, and the same amount worry their income will not keep pace with tax increases.
“With added pressure from increased uncertainty, 61% say they are worried their current financial strategy won’t provide the lifestyle they’d like to have in retirement,” Allianz said, noting that one-third of those surveyed said that putting some money into a financial product that provides a guaranteed stream of income in retirement is the most important step in having a secure retirement.
Thirty-nine percent of Gen Xers expressed interest in a product that offers guaranteed income compared with millennials at 33% and boomers at 30%.
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Pro-bitcoin professionals, however, say the cryptocurrency has ushered in change.
“LPL has evolved significantly over the last decade and still wants to scale up,” says one industry executive.
Survey findings from the Nationwide Retirement Institute offers pearls of planning wisdom from 60- to 65-year-olds, as well as insights into concerns.
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This season’s market volatility: Positioning for rate relief, income growth and the AI rebound
