There is no denying the psychological effect the recession of the past few year’s has had on our nation. It seemed like every time we turned on the news, it was to hear about stock market downturns, layoffs, and bleak turn-around predictions.
Which is why last week’s news of the Dow Jones Industrial Average resurgence, in which it closed above the 12,000 mark for the first time in nearly two and a half years, was such a triumph.
Pittsburgh Post-Gazette financial journalist Len Boselovic reported on the ups and downs of the Dow Jones Industrial Average over the past few years.
In this article, I share with Len what this resurgence means to Americans, “It is momentous in the sense that it is a psychological, emotional hurdle to get over.”
You can view this article in its entirety here.
However, even though the markets have recovered significantly since their low point in March of 2009, and this recent Dow Jones resurgence is big step forward, there is never absolute certainty in a time of financial recovery.
As trusted financial advisors, we tell our clients that the best way to make decisions and stay informed on the current state of the economic and financial marketplace is to view recurring data trends, which provide significant insight into market action. I recently wrote another blog post on this very topic, which analyzes and explains market actions of the past few years, which you can view here.
The ups and downs of the Dow Jones Industrial Average can seem like a rollercoaster ride that leave many people feeling uncertain about the state of the economy, and consequently, their finances. For this very reason, it is imperative to have a financial advisor you can trust to offer guidance and direction on the state of the market. Feel free to contact us and see find out how we can help you feel secure in your financial journey!
The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.
Investing in stocks and/or bonds entail risks, including possible loss of principal.
Robert Fragasso is the Chairman and Chief Executive Officer at Fragasso Financial Advisors, a Pittsburgh-based investment and financial planning firm. Due to industry regulations, comments are not permitted on this blog. If you would like to contact the author, please email us at blog@fragassoadvisors.com. Robert can also be reached for comment at 412-227-3200.