VisionQuest’s Senior Vice-President, Joe Baker, was recently interviewed by ABC News 4 television in Charleston, South Carolina regarding the Dow Jones Industrial Average (DJIA) moving to a historic high.
Joe explains in his interview that there are some psychological benefits when an index crosses an all-time high, but it has little significance on your long-term goal-based objectives. New highs should be and are appreciated by VisionQuest, but we remind our clients that they do not foretell future direction or offer any predictive data.
In closing, we are excited that the Dow Jones Industrial stock market index hit above 20,000 for the first time, but we will continue to urge clients to follow Joe’s advice of “staying true to your own goals, time horizon and risk tolerance profile.” The point is a well-designed, diversified portfolio that delivers growing cash flow and appreciation is your best opportunity to meet your financial goals while at the same time staying ahead of taxes and inflation. As Joe said “always have a plan” and “stick to your plan and avoid reacting to emotional highs and lows.”
With that, we are excited that a major stock market index hit above 20,000 and we are equally excited that Joe Baker had the opportunity to share his insight with the Charleston community and our clients.
If you have any questions about this write-up or Joe’s interview, you can contact either me, Randall Griggs, or Joe Baker at the contact information below.
Randall C. Griggs, CFP, AWMA, AAMS Joe Baker, CFP®
Senior Vice President – Chief Compliance Officer Senior Vice President
VisionQuest Wealth Management VisionQuest Wealth Management
(704) 351-5497 (843) 259-8792