The stock market recently broke out of its 21-month trading range, setting the stage for a potentially strong start to 2020. Gains in valuation amid a slowdown in earnings growth are consistent with past inflection points. Price tends to lead earnings at the turns, so now it’s up to 2020 earnings to grow—and thus justify the P/E expansion. This assumes the Federal Reserve has intervened in time to avert recession, but because this is unknowable in real time, I think a 60/40 strategy remains a reasonable approach. Protecting against the tails—both deflation and inflation—also remains important.

You've worked hard and saved diligently. And now, you're considering stepping away from full-time work. Whether you're anxious or excited about the transition, it's a good idea to start getting specific: Consider the details of where you stand today, what your ideal retirement looks like, and how much money you'll need. Now's also the time to think about important decisions like when to claim Social Security and your level of health care coverage.

The best plan is a flexible one that can weather inflation, market swings, and unexpected expenses—all while helping you make sure you have enough income to last.

"I took a trip to Ethiopia for personal reasons, and it reinforced my belief in the large global growth opportunity facing many payment companies," says Jed Weiss, portfolio manager of Fidelity® International Growth Fund (FIGFX).

Weiss notes that roughly half of global transactions are still done in cash, and cash accounts for a significant majority of transactions in major parts of Africa.

"Only a few hotels took credit cards, so I needed a money belt everywhere I went," Weiss says.

Partly for this reason, Weiss explains, the fund was invested in Kenya-based Safaricom as of November 30. Weiss notes Safaricom is a major Kenyan telecom company, as well as the operator of the M-PESA cell-phone-based mobile-payments network, with notable market share in Kenya and the potential opportunity to expand into Ethiopia.

This investment fits into a broader global theme Weiss is following: He says the percentage of transactions conducted online and by credit...

The quarterly market update features Fidelity's views on the macro global and U.S. markets. Our professionals will provide an in-depth analysis of what drove the market in the most recent quarter and what you can expect in the near future. In this webinar, you'll learn:

Near retirees are supposed to be amassing wealth to live off of in retirement, but unfortunately, some are drowning in debt instead.

Such was the case for one 60-year-old man, whose child posted on Reddit that he was buried in about $600,000 in debt. The father owed about $200,000 on 10 to 15 of his credit cards and still had $400,000 on his mortgage. The child (it wasn’t clear if it was his son or daughter) said the father manages monthly payments, but wasn’t sure that were true. “Last week someone from the court came to our house and said one of his credit card companies is suing him if he doesn’t respond to the court with a payment plan in the next two weeks,” the Reddit user said.

The home was bought four years ago and probably doesn’t have much equity, the original poster said. The father said he earns $200,000 a year, but allegedly used a credit card to pay the down payment. “I honestly don’t know what to do,” the user...

Despite recent volatility, the managed-care industry should benefit as the US health care economy transitions to a payment model that incentivizes value over utilization, with the patient at the center of care decisions. The sweep of merger-and-acquisition activity across the managed care space—with medical providers combining with health insurers and drugstores—is representative of this overall shift to a more holistic and coordinated approach to health care. A more personalized, lower-cost model should save money both for patients and for the entire health care system.

Fidelity's rule of thumb: Aim to save at least 15% of your pre-tax income each year for retirement. The good news: This 15% goal includes any contributions you may get from your employer. Remember: Your personal target saving rate may vary depending on a variety of factors, including when you plan to retire, your retirement lifestyle, when you started saving, and how much you've already saved.

5G wireless network technology could eventually enable capabilities such as the internet of things, autonomous driving, sophisticated augmented-reality and virtual-reality experiences, and much more. Once 5G infrastructure is in place, companies further down the value chain should benefit: In particular, handset and other hardware makers, and ultimately providers of applications and software. The smartphone market could see an upgrade cycle as companies introduce 5G phones in 2020 but it will depend on 2 factors: 1) the robustness of the network carriers build and 2) the richness of the experiences that developers build on the network.

Repeals the maximum age for traditional IRA contributions, which is currently 70½. Increases the required minimum distribution (RMD) age for retirement accounts to 72 (up from 70½). Allows long-term, part-time workers to participate in 401(k) plans. Offers more options for lifetime income strategies. Permits parents to withdraw up to $5,000 from retirement accounts penalty-free within a year of birth or adoption for qualified expenses. Allows parents to withdraw up to $10,000 from 529 plans to repay student loans.

Generational shifts and a changing economic landscape have transformed the real estate investment trust (REIT) market in recent years. Traditional REIT segments such as retail, apartments, and offices are giving way to new and emerging categories, including single-family home rentals and data centers. We're paying close attention to these shifts, evaluating new opportunities and assessing which traditional REITs are best-positioned in an evolving world.

Tap into your passion and skill sets to help define and drive your new business. Keep personal debt in check, and keep saving for your retirement. Stress test your idea before you start a full-time business. Weigh options carefully to finance your new business.

We offer multiple ways to help you evolve your options trading strategy, be more effective with your research and analysis, and better leverage our trading platforms and tools. Choose the way you prefer to learn.

Set firm goals—and make a plan to meet them. Get a handle on your debt and make a budget that builds your savings. Be considerate and obey the ground rules to reduce family friction.

Money is a sensitive subject—especially for women.

I think about this a lot and believe it often has to do with lingering perceptions and hard-to-shake habits. My maternal grandmother, for instance, has never felt comfortable talking about money. To her the subject is taboo, even within our family. She never discussed money with my mom, who then never talked about finances with me. As a result, there's a shortage of money confidence in our family that sometimes feels like a genetic predisposition.

This meant I had a lot of catching up to do as a young adult. In my early 20s, I found myself in a position where I had to be financially responsible for my college education and a child. This meant learning how to budget so we could afford groceries, not spending on frivolous things (like another pair of shoes I didn't need), and starting to build up an emergency fund.

Just 20% of women say their parents...

First, think about how long you plan to stay invested, your financial needs, and how much risk—or price fluctuation—you could tolerate. Consider how much of your investment mix should be in stocks, bonds, and short-term investments to give you a suitable level of risk and return potential. Finally, pick a diversified mix of investments.

* Not all Fidelity account information can be imported directly into TurboTax, H&R Block or TaxAct. For example, information on institutional retirement plan accounts serviced by Fidelity Employer Services Company LLC (including 401(k) accounts) and annuity or life insurance contracts cannot be imported.

The outlook for investors in the 2020s will depend on how governments respond to a wave of retirees in the world's biggest economies. My base case is policymakers will "thread the needle" between inflation and deflation, and a diversified mix of stocks and bonds should continue to work well. For stocks, I would look for competitive yield and reasonable valuation. But it makes sense to protect against "tail risks." If you are concerned about inflation, consider Treasury Inflation Protected Securities (TIPS) and commodities. If you're concerned about deflation, think about minimum volatility strategies and long-duration bonds.

"Data science developed by Fidelity is helping me improve my ability to accurately forecast same-store sales (SSS)—one of the most important retail metrics I track," says Katherine Shaw, portfolio manager of Fidelity® Select Consumer Discretionary Portfolio (FSCPX).

According to Shaw, Fidelity studied SSS trends for 10 years, concluding that companies that reported upside SSS surprises tended to show stock outperformance, on average. Conversely, those that lagged SSS expectations tended to underperform.

Shaw says the forecasting system uses raw inputs that include consumer transaction information, and applies a proprietary model that was built in-house to improve accuracy and help filter out "noise" in the data.

The result, she says, is better SSS predictions relative to the way analysts made predictions in the past, which partially relied on human-based checks of distribution channels.

Shaw has used the system to identify several consumer...

Bad news—as well as good news—is priced into the financial markets, presenting income-seeking investors with opportunities as well as risks. Multi-asset income strategies can invest in a wide variety of income-oriented investments. Attractive opportunities currently exist in convertible bonds, dividend paying stocks, floating rate bonds, and some emerging market stocks and bonds. Prices of preferred stocks and real estate investment trusts have risen to the point where they offer relatively little appeal for income-seeking investors.

A few years ago, the night before a big event where I wasn't going to know many people, I left work and headed to the mall. In shoes that were in no way appropriate for extended walking, I began the hunt for the perfect outfit to wear the following day. After an hour and a half of overturning all my usual stores, I was energy-depleted, sore-footed, and still empty-handed. Realizing I might strike out, panic started to set in.

As unusual as this high-stakes shopping trip may sound, it had become a usual occurrence for me. Events with strangers ramped up my stress levels, but a new outfit seemed to give me the boost of confidence I needed to get through it. Before long, every event became a reason to shop.

We offer multiple ways to help you evolve your options trading strategy, be more effective with your research and analysis, and better leverage our trading platforms and tools. Choose the way you prefer to learn.

US stocks are on track to rebound this year in a big way following 2018's 4% total return decline. Here are 3 charts that illustrate some of the primary trends that helped shape 2019 thus far—and may help indicate what to expect heading into 2020.