News about Peter Gallagher

According to experts, millions of Americans could be missing out on retirement savings by failing to take advantage of compound interest's simple power. Being on the right side of this phenomenon will help you build wealth, but the key is to start profiting as soon as possible. Put simply, compound interest is the point you earn from an interest.

Both the S&P 500 and the Dow Jones Industrial Average soared to new highs this week, amid Wall Street's optimism that the Federal Reserve will begin lowering interest rates soon. As the majority 401(K) accounts have some money invested in these benchmark indices, the most typical American has the first exposure to the stock market is likely in their retirement plan. This is good news because it means their portfolios are likely to recover substantial losses from 2022, when the S&P 500 closed out the year down 20%.