A flurry of disappointing economic data released before the opening bell resulted in the major indices starting today’s session in the red. Though stocks bounced off their morning lows and into positive territory, a sell-off later in the day caused the averages to close in the negatives.
Early in today’s session, earnings results from Cisco Systems (CSCO) and Kohl’s (KSS) sent shares higher. However, Wal-Mart’s (WMT) first quarter earnings miss caused shares to fall. Also, Wall Street analyst upgrades sent shares of Molson Coors (TAP) into positive territory, while downgrade calls of Computer Sciences Corp (CSC) and Barrick Gold (ABX) pushed shares into the negative.
Investing in the stock market should be done to help build wealth over the long-term. By investing in established, dividend paying stocks with a sound strategy, you should be able to accumulate savings and wealth that will lead to a prosperous retirement at a reasonable age. However, many Americans have failed to properly prepare, and as a result they are working later into their lives to make up for inadequate savings and eroding wealth.
According to a study by Gallup, the average age of retirement in the United States is now 61. This is up from 59 in 2002 and 57 in 1993. One of the reasons that people are now retiring later is that they can; advances in medicine make it easier for people to keep on working as they age. However, the more troubling reason that people need to delay retirement is that they do not have the means to prosperously retire. For years, it was expected that income from Social Security and a pension, an investment in a home, and some bank savings would be enough for someone to be able to settle down into their golden years. Unfortunately, it’s just not the case anymore. Investing in stable, dividend paying stocks is necessary to accumulate the wealth needed for retirement. Getting started sooner rather than later will only boost your chances to be able to settle into retirement like you had always dreamed.
Also, the delaying of retirement is not just affecting the older Americans. With more people delaying retirement and keeping their jobs, it is failing to open up new positions for younger people fresh out of college looking to start their careers. This is certainly worth monitoring as we all know a consistent and vibrant job market is necessary for continuous long-term prosperity.
Thanks for reading, and We’ll see you tomorrow!
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