Unemployment is at a 50 year low and we're spending spending spending for the holidays. Things are good this year- so how's your 401K doing? Troy Sharp of Oak Harvest Financial says 2019 showed great profits for those who kept their investments in the stock market. "More people are working, companies are more profitable, you have the opportunity to take advantage of your company match.” Sharp also says 2020 should be just as advantageous. He says to save as much as you can, and here's a tip if you're 5 to 10 years away from retirement. “You have to produce as much income as possible because your 401K is designed to replace your income when you retire.”
What about 2020? Sharp explains, "There are some risks out there --- but things are lining up to be a very positive 2020. And most important – investors need a financial plan and an investment strategy.”Consumer confidence is higher than it has been in 10 years which is great if you're early in your 401K. You can hear Troy Sharp on The Retirement Income Show Sundays on KTRH.