GREEN BAY - The Dow Jones Average, the best known stock market index, reached a new record on Tuesday, erasing the losses from the Great Recession.
If you need a pick-me up, taking a look at your 401K balance might do the trick.
"They are probably going to see themselves having the highest balance that they've had in quite some time," said Chad Nehring, a financial planner for Conceptual Financial Planning Inc.
Nehring says the Dow's record day is to thank. He points to the Federal Reserve putting more money in the system as a reason.
"That makes traders in Wall Street extremely happy when the fed does that," said Nehring. "That tends to push the market up."
Nehring says investors should use this time to re-evaluate their financial situations.
"Do you still have the same tolerance for risk in your portfolio? Have your goals or your needs changed? Do you really want to be an investor? The old fashioned adage of not keeping all your eggs in one basket, very very true when times are good like this," said Nehring.
UW-Green Bay finance professor Bill Lepley says things can change quickly.
"Whenever the market goes up, your basically seeing the result of a vote where people are voting with their dollars," said Lepley. "The vote could go the other way two days from now or two months from now."
Financial experts say the housing market plays a big role in the economy. And Nerhring says keeping track of the transportation industry is also a good idea.
"They are the ones who are moving materials," said Nehring. "They are moving finished products to the stores for us to buy as consumers."
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