Despite ongoing conflict with Iran and oil prices around $100 per barrel, markets pushed higher last week. The S&P 500 and Nasdaq both hit new records, and the Dow is closing in on 50,000 again.
April was actually the best month for markets since the pandemic recovery in November 2020.
So, what’s driving the rally? Markets are signaling they believe the worst of the Iran conflict is behind us. Earnings have been strong, and inflation hasn’t spiked as dramatically as some feared.
That said, there are a few things worth watching. Oil prices remain elevated, and we’re all feeling the increase at the gas pump. There’s also some new uncertainty at the Federal Reserve. Jerome Powell is stepping down as Fed chair, but he said he’s staying on as a Fed governor. That could create some interesting dynamics at future Fed meetings.
This all comes down to the fact that markets are resilient, but there’s still plenty to watch. As always, we’re keeping a close eye on these developments and adjusting portfolios as needed.
If you have questions, don’t hesitate to reach out.
In The News
Americans Are Feeling Less Confident About Retirement
The USNews article highlights:
- The 2026 Retirement Confidence Survey shows a significant drop in retirement confidence, falling to 61% for workers and 73% for retirees.
- Persistent inflation and a volatile market have made the past year especially difficult for those on fixed incomes.
- Seven in 10 retirees and 80% of workers worry the government will make negative changes to the current retirement system.
- Confidence in Social Security and Medicare is declining as both programs face looming funding gaps and automatic benefit cuts by 2032.
- Medicare confidence dropped sharply to 62% as premiums rose and some Advantage plans reduced coverage or increased co-payments.
- Personal debt is increasingly becoming a major obstacle, with 58% of workers saying it negatively impacts their ability to save for the future.
- In response to rising costs and uncertainty, roughly 31% of retirees now expect they will have to work at least part-time during retirement.
- While confidence is slipping, planning and maximizing 401(k) contributions can help retirees stay in the 47% who still feel financially secure.
Good news, our Creating Your Dream Retirement process puts a plan in place so you can enjoy financial security! Check out some of the ways you can secure your retirement income. https://bertramfinancial.com/faq/how-do-i-guarantee-retirement-income
Show me the Gold Silver
While gold often leads the discussion on portfolio diversification, silver deserves just as much attention. Unlike gold, silver plays a dual role—as both a precious metal and a critical industrial material. It’s essential in defense, electronics, renewable energy, EVs, and advanced technology, making its demand uniquely resilient.
Since 2021, the world has seen consecutive annual silver deficits, with silver consumption outpacing production for six years straight. Four years of shortages alone have totaled 678 million ounces—about ten months of global mining output. In 2025, the shortfall reached approximately 230 million ounces. Addressing this is not as easy as ramping up production: about 70% of silver is mined as a byproduct of copper, lead, and zinc, so silver supply is tied to the economics of these base metals rather than silver prices. Even if prices spike, new mining projects take 5 to 8 years to come online, making quick fixes impossible.
China has recently implemented stringent measures to restrict the export of silver, aiming to prioritize domestic consumption and support its growing industrial and technological sectors. These measures include tighter export quotas and increased scrutiny on silver shipments leaving the country. China’s dominance in the global silver market is significant, as it controls approximately 18% of the world’s silver output. By limiting exports, China exerts considerable influence over global supply chains, further exacerbating supply challenges for other nations and industries reliant on silver for manufacturing and investment purposes.
You should not place precious metals in a portfolio to generate aggressive growth. You place them there to act as the unbreakable foundation beneath everything else you own.
Think of gold and silver as essential financial insurance. It serves as direct protection against the arrogance of policymakers who believe they can print infinite amounts of money without consequence.
When you study how ultra-high-net-worth individuals manage their wealth, a clear pattern emerges. The truly wealthy do not buy gold to become rich. They already have wealth. They hold physical gold and/or silver because they deeply understand the mechanics of fake, fiat money. They know that paper wealth can vanish, but tangible wealth survives. Every level of wealth deserves protection. Learn more – https://bertramfinancial.com/silver-and-gold/gold-and-silver
Just for Fun
Dad Joke of the Week:
What do you call a dog who meditates? Aware Wolf.
Say What?
Chonkers the sea lion draws crowds to San Francisco’s Pier 39.
An intrepid sea lion nicknamed Chonkers is waddling his way into the hearts of tourists and locals who have flocked to San Francisco’s Pier 39 for a glimpse of the massive pinniped.
On Thursday morning, visitors snapped photos as the Steller sea lion flopped on the pier, surrounded by dozens of much smaller California sea lions that call the docks home.
“He’s like a Volkswagen! He’s so huge!” said Oluwaseyi Akinbobola, a visitor from Los Angeles who had an extra half hour, so she ran down to the pier for a hopeful peek of the elusive sea lion. “I have heard everywhere about this big giant sea lion, and I like to look at things, so just thought I’d check it out.”
Chonkers likely came from up north off the coast of Washington or Oregon and is estimated to weigh between 1,500 and 2,000 pounds (680 and 907 kilograms), said Laura Gill, public programs manager at The Marine Mammal Center in nearby Sausalito.
Chonkers has been one of the few Steller sea lions to venture to the pier, which is protected from predators and crashing waves while providing a fish-filled buffet.
This Week in History
1804 – Lewis and Clark depart to explore the Northwest
1914 – Woodrow Wilson proclaims the first Mother’s Day holiday
1929 – First Academy Awards ceremony
1954 – Brown v. Board of Education is decided
1974 – House votes to initiate impeachment proceedings against President Nixon
What Did it Cost? (twin mattress)
· 1975: $199.00-$239.00
· 2005: $279.00-$479.00
· 2025: $500.00-$650.00
Have a great weekend!
Live Your Dream!
Michelle Bertram
www.CreatingYourDreamRetirement.com
608-987-1511
Click here to schedule a time on my calendar