Conducting a portfolio fire drill might do nothing more than remind us of the importance of saving enough today, and quite possibly mean the difference between a comfortable retirement - or no retirement at all. On the surface, a continued strong stock market seems plausible. The economic expansion, now the longest on record, shows no signs of abating as the first quarter of 2000 comes to a close. The broad stock market, as represented by the Wilshire 5000 index, is on track to return more than 20 percent for the sixth consecutive year. Inflation remains subdued.
Consumer confidence is at an all time high.
Rumor has it that recent advances in technology are increasing production in all sectors of the economy. Our book of the month club is reading Dow 36,000 by James Glassman and Kevin Hassett. No fire drill needed in my new economy world. Life couldn't be better. Let me try to convince you otherwise, and remember, it's only a fire drill.