Insights

President John F. Kennedy frequently used the phrase, “A rising tide lifts all boats,” during the early 1960s to illustrate how broad economic growth benefits individuals, businesses, and communities alike. The expression has since become a popular metaphor for periods of economic expansion when favorable conditions help support growth across many sectors of the economy. Read in this UPdate our views of recent developments that include the SpaceX IPO, resolution of the Iran war, and lower oil prices.

Every bull market comes with a chorus of commentators predicting its end, but what if all that bad news is exactly what keeps the rally alive?

During every bull market, there is no shortage of commentators predicting the imminent end of the rally. These bearish forecasts often receive significant media attention, fueled by concerns over geopolitical conflicts, including the war with Iran, inflation, tariffs, rising living costs, a sluggish residential real estate market, elevated gasoline prices, high mortgage rates, and the latest comments or policies coming from Washington.

In the past year, we have had several clients retiring from their professional careers. Most were clients for more than five years, and some for several decades. Back in 2019, nearly all of them asked the same question:“Can I retire in five years with our $1 million portfolio?”

The US economy is still recovering from the significant whipsaw impact caused by the pandemic and related government restrictions on businesses and society. Last week, the Bureau of Labor Statistics reported that the year-over-year (YoY) increase in hourly earnings increased 3.6% from the same time in 2025 and is still ahead of rising costs. At the same time, unemployment has remained at historic lows for the past four years, with last week’s Unemployment rate at 4.3%.