Stocks generally see higher average returns over time, making them fantastic for building wealth. However, they're also often hit much harder during periods of market volatility. For that reason, most people will want to gradually shift their portfolio toward the conservative side as they get closer to retirement.

The U.S. stiock market has dropped considerably over the last week amid concerns over the impacts of President Donald Trump's proposed tariffs.

Even if the country enters a recession, the housing market will mostly remain "on solid footing," Redfin said.