On January 31, 2023 we held an online event to share our Market Outlook and some of the key changes in new SECURE Act 2.0 legislation.

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As the world continues to grapple with the economic, health, and social impacts of the COVID-19 pandemic, investors are looking ahead to the future of the markets in 2023. With the passage of the SECURE Act 2.0 in December 2021, retirement savings have been given a major boost, and the market outlook for 2023 is looking increasingly positive.

The SECURE Act 2.0 made several changes to the existing retirement savings landscape. It raised the age limit for contributions to traditional IRAs from 70.5 to 72, and expanded the eligibility for the Saver’s Credit to include more low-income earners. It also increased the amount that can be contributed to a 401(k) and IRA, and eliminated the age cap for contributions to a traditional IRA.

The SECURE Act 2.0 also introduced a new retirement savings vehicle, the Lifetime Income Annuity. This allows individuals to purchase an annuity that will provide them with guaranteed income for the rest of their life. The annuity is available to individuals over the age of 59.5, and can be used to supplement Social Security or other retirement income.

The SECURE Act 2.0 has made retirement savings more accessible and secure for many Americans. This, combined with the continued economic recovery from the pandemic, is expected to lead to a positive outlook for the markets in 2023.

The stock market is expected to continue its upward trajectory, with the Dow Jones Industrial Average and the S&P 500 reaching new highs. The technology sector is expected to remain strong, and the renewable energy sector is expected to continue to grow as well.

The bond market is also expected to remain strong, with interest rates remaining low. This is good news for those looking to invest in bonds, as it will provide a steady stream of income without the risk associated with the stock market.

Overall, the market outlook for 2023 is looking positive. With the passage of the SECURE Act 2.0, retirement savings have been given a major boost, and the economy is expected to continue its recovery from the pandemic. This is good news for investors, as it should provide a solid foundation for investment success in the coming year.