For investors, the first half of the year has unfolded quite
differently than expected. On the back of an ugly 2022, when stocks
and bonds slumped and inflation and interest rates surged, the
January consensus was duck and cover. A recession was widely
advertised, with the only question being whether it would hit in
the first or second half of the year. Job cuts started piling up
and GICs were very, very popular.
Seven months later, things are looking better. Or are they? In a
glass half full/half empty world, it might be a good time to get a
second opinion on your retirement savings strategy.
THE GOOD NEWS
2023 has been a mixed bag so far. Yes, stock markets and the
economic outlook have improved, but with caveats. In the US, a
thick slice of the 19% year-to-date gains in the S&P 500 are in
the seven tech stocks at the top—Alphabet, Amazon, Apple,
Meta, Microsoft, Nvidia, and Tesla. Strip out "The Magnificent
Seven," though, and the rest of the index shrinks
