Commodity prices soar while stocks plummet, how do you navigate the chaos?
BIRMINGHAM, Ala. (WBRC) - Whether you are a consumer or investor, these last few months have been a challenge. The prices of commodities are soaring, and the DOW is plummeting.
Finance experts I spoke with stressed caution. Investing is still possible, and there are some sectors that seem to be doing well, although tech, a sector that has over performed in recent decades, is bleeding.
In other words, the market is in flux. I spoke with is Marshall Clay of the Welch Group earlier and he says the market is still trying to figure out how these higher interest rates will land or impact the market.
He stressed that the stock and bond markets are leading economic indicators, and with higher interest rates it isn’t shocking to see the current dip. Still Clay believes there are safe ways on investing your money and ensuring you see a return.
“If you are a younger person early twenties, thirties, even forties and fifties, if you have a five to ten year time horizon, I think it is not a bad time to look at particular areas of the economy to get your money invested. Certainly if you are in your twenties or thirties you should continue to add money consistently to your 401k over time is the right move,” said Clay.
If you are closer to retirement, Clay hopes you have some savings available and suggests holding if you’re currently in the market because you certainly do not want to sell at a low point.
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