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Newsletter
2020 5th Edition (Other Editions)
The Dow hits 30000 for the first time - is it the time to sell or to buy?
On November 24, the stock market rallied by 450 points following a few days of positive rise, leading to a market close of the all-time high for Dow at 30,000.
These events come with the possibility of next stage development of coronavirus vaccines - rising hopes of combatting the virus that has killed over 1.4 million people, with the total number of cases reaching 60 million worldwide. Additionally, Biden's upcoming administration drives positivity among people, hoping that things will improve. The question here is whether or not the stock market will continue with its' vicious rise.
Some might think it's too risky to invest during the period where stock prices are hitting high points, while others believe that the rise will continue. You could make a huge profit, or you would be better off keeping your money at the bank despite facing inflation problems.
It is advised to keep a diversified portfolio to lower risk - so-called "Risk-diversification." However, it depends significantly on the person's financial background and their corresponding financial needs and aspirations for the future. A financial coach can help you with that and develop a tailored solution targeted to what you need.