The Dow Jones has reached a new high.
It closed above the 20,000 mark for the first time in history Wednesday, and today, that benchmark holds strong.
As the Stock Market sails to new heights, many are wondering what does this mean for me?
Should you invest your cash? Or pull out of the market?
Local Financial Advisor, Kent Ballard says, what ever you do, you should be cautious.
“I would just step back and say okay, short term, where does this market go,” claims Ballard.
When deciding what to do with your money, Ballard says, it depends on what you’re trying to accomplish.
However, if you’re thinking of investing now that the Dow hit the 20,000 level, Finance Professor at MSU, Naveen Khanna says, don’t be surprised if you take an initial loss.
“The markets always go up and down, they fluctuate at about 20 percent a year, and they’re very hard to predict,” says Khanna.
As the economy continues to grow, both these financial experts agree that the successful market may be here to stay.
“There’s many, many different things I can site here locally that tell me that the economy is much much better than it was just three or four years ago,” says Ballard.
And while some say the election of President Donald Trump gave the momentum a boost, Ballard believes this milestone would have come no matter who won the White House, because he says, the economy was already rolling in this direction.
“The pace of it can be dictated by maybe an administration or what rules are made, but it’s really hard to knock that expansion off course,” says Ballard.