July 13, 2021
Over the weekend, billionaire and founder of Virgin Galactic, Richard Branson, made history by becoming the first man to recreationally fly into space aboard his own company’s spacecraft. He narrowly edged out fellow billionaire and founder of Amazon, Jeff Bezos, who also announced he is planning to travel to space in a similar fashion. As the stock market continues to incrementally set new record highs, less than a year and a half since the start of the global pandemic, many have begun to question how much higher can it go? Could recreational space travel be a new frontier that continues to propel the markets higher? While space travel will certainly be a luxury that only select few can afford, the demand appears to be high, as one individual bid millions of dollars for the chance to join Jeff Bezos on his voyage. Space travel is just one potential frontier that could grow exponentially in the next few years and with the pandemic recovery seemingly behind us, it may be just what is needed to spur more economic growth. To discuss the stock markets, potential growth sectors, or any of your other financial needs, reach out to us today!
Carol Dixon, CFP® & Kevin DeRosa, CRPC®