Joe and Al put the old adage “Sell in May, Go Away” to the test. Is it really worth it to sell stocks at the beginning of May and buy them back in October? If so, where should you be putting your money? Also in this first hour are five full proof ways people can save for retirement.
1:24 “So here’s the theory if you’ve never heard of it: you should sell stocks at the beginning of May and then buy them back at the end of October…they say you will reap the profits”
3:18 “The S&P500, although statistically has not done so well for May and October, who knows why, it’s done way better than anything else”
7:28 “CNBC said that you need two and a half million [dollars] to retire today”
17:38 “One of the expenses that people think they don’t have much control over, but they actually do in retirement, is income taxes”
24:15 “There’s something called Simple, which launched in 2012…it lets you set saving goals to calculate how much you should set aside daily to reach those goals”
35:43 “Based upon your income level, as much as 85% of your Social Security is taxed at whatever tax rate you’re in”