Uncertainty is fueling inflation. Here's how to take charge of your investments and retirement.
A large investment company is warning anyone with stocks to hold on to your hats. Information from JP Morgan says uncertainty is fueling inflation, but so far the market has been more resilient than expected.
So what does this mean for casual investors and people planning for retirement?
After four decades of hard work, maintenance specialist Kemet Imhotep says retirement feels as far away as ever.
"I still got to grind, so I don't really know what retirement would look like truthfully and honestly at the moment," said Imhotep, of St. Paul, Minnesota.
And he's not alone. The stock market is stirring many, according to Twin Cities economist Dr. Bruce Corrie.
"There is so many things happening at the same time," Corrie said. "There's the AI that has so much promise but also poses a threat. Then you have external factors like the war in Iran."
Corrie, who just retired himself, can't share investment advice — but he can share his decision.
"I decided I don't want to be active in the market because I don't know what's happening next, so I have kept it in a safer, cash or near-cash retirement account," he said.
And that tracks with advice from one of the largest investment firms, Fidelity. Their advice for people nearing retirement in this economy is to make a plan with an expert, cut expenses and increase dependable income like amenities, bonds or CDs.
"I would like to stay conservative," Corrie said. "Other people may have an appetite for risk, but not me."