Hey guys Justin Goodbread doing an emergency update here on the stock market! So, February 5th, 2017 the Dow Jones it dropped 4.6% That is the worst single day in market history! Are you grabbing your babies and heading for the hills yet?
The media is excited to say that the stock market is at an all-time high. This news has us wondering, is it time… “should I sell my stocks?” This is a reasonable question and one I answer almost every day. The Standard & Poor’s 500 index has grown almost 300% percent since hitting bottom in early 2009, and people want to know if it’s time to be a bull or a bear.
As a child, I vividly remember playing Chicken with my younger brother. We would hop on our bikes driving straight for each other waiting to see who would be the first “chicken” and swerve away and ultimately lose the game. Of course, there were also times we walked into the house with bruised elbows and skinned knees because neither of us was willing to let the other outdo us. We were so hardheaded we chose to crash into each other. A recent phone conversation with a client had me reminiscing that game. They wanted to know my thoughts on the current market—especially with the recent tragic events: school shootings, weather-related disasters, the unpredictability of certain foreign countries. With all the chaos dominating the news, we are all concerned with how these events will affect our retirement.
Growing up in a small coastal city of Southern Georgia taught me to never underestimate hurricanes. They are not just something you see on TV; they are actual monsters to fear. Riding out a storm was never an option with my parents. The sheer magnitude of devastation they leave in their wake quickly brings you to your knees. Now as a CERTIFIED FINANCIAL PLANNER™ in Knoxville, TN, my heart aches for those preparing to overcome Hurricane Harvey in Houston. Not only that one but Hurricane Irma, which is barreling directly toward South Florida. What damage will be left in the wake of her landfall for those residents is yet to be determined. While the heartbreak and gut-wrenching scenes of havoc play out before our very eyes, I was recently asked why the stock market has not taken a hit of epic proportions with these destructive storms displacing so many Americans. […]
Recently an interaction with another financial professional left me puzzled. He suggested that a ROTH is always better than a regular IRA. If there’s one truth in the financial world, it’s that always is NEVER always.
Late December of 2016 was mixed for the markets, as the Dow increased by 0.44%, while the S&P 500 lost 0.06%, the NASDAQ dropped 0.13%, and the MSCI EAFE gave back 0.55%. We also saw a variety of data released, giving a similarly mixed view of recent economic activity. Retail sales and the Consumer Price Index showed modest gains, while industrial production and housing starts both declined. The biggest headline from last week, however, was a development the market anticipated for quite some time: The Federal Reserve decided to raise its benchmark interest rates – for only the second time since 2006. Why did the Fed raise rates? The Federal Open Market Committee (FOMC), the group of Fed officials who meet to determine interest rates and other policies choices, has a mandate to “foster maximum employment and price stability.” In its quest to uphold this mandate, the FOMC aims to […]