HOUSTON – When it comes to the stock market, investing is the only way you can build wealth.
Trevor Shakiba, private wealth advisor with Ameriprise Financial, reflects on the current status of the market and what that means for investors.
He says that year to date the market is up approximately 9%, but if you recall the market was down at the end of 2018 and then jumped back up at the beginning of 2019.
Both were extremely volatile months historically and prove that market timing does not work out well long-term.
Shakiba explains that in order to make money in the market, you have to be invested.
“If it’s a large sum of money or you just retired or there’s a pension that you’re rolling over, maybe you don’t plop it all over into the market, but you do something called dollar cost averaging. Which spreads your risk out, means you put a certain amount in per month, because we don’t know what the market is going to do in the near term," Shakiba said.
Instead of trying to time out the market, Shakiba suggests investors stay focused on what's important, like long-term financial goals and plans.
For more information or to request a complimentary consultation with The Shakiba Group, call 281-724-9917 or visit, www.theshakibagroup.com.
This article is sponsored by The Shakiba Group.