The performance of stock and bond markets is dismal, inflation is soaring, and economic uncertainty is burgeoning as the Federal Reserve aggressively hikes interest rates in an effort to tame inflation. In spite of this challenging environment, there are positive developments underway. People increasingly say they are open to professional financial advice and more than four in 10 Americans say they have made up all or some of the financial ground they lost during the first year of Covid, according to one study.
If the Senate passes SECURE 2.0, a version of which the House of Representative has already passed, the act will delay required minimum distributions (RMDs), expand catch-up contributions, and help people with student loans save more for retirement. Though it was placed on a temporary administrative hold by a federal appeals court in November, if allowed, the Biden Student Loan Debt Relief Plan could ease the financial burden of millions of Americans, offering up to $20,000 in student-loan forgiveness per eligible individual.
As a defined-contribution plan sponsor, you can help as well.
Important Risks: Investing involves risk, including the possible loss of principal.
The views expressed herein are those of Schroders Investment Management (Schroders), are for informational purposes only, and are subject to change based on prevailing market, economic, and other conditions. The views expressed may not reflect the opinions of Hartford Funds or any other sub-adviser to our funds. The opinions stated in this document include some forecasted views. Schroders believes that they are basing their expectations and beliefs on reasonable assumptions within the bounds of what they currently know. The views and information discussed should not be construed as research, a recommendation, or investment advice, nor should they be considered an offer or solicitation to buy or sell any security. This information is current at the time of writing and may not be reproduced or distributed in whole or in part, for any purpose, without the express written consent of Schroders or Hartford Funds.
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