The Dow Jones Industrials Index hit 21,000 for the first time this week. So, what does this mean for your 401K?
Certified financial planner Kyle Walters told KTRH it really depends on what you have in your 401K. If your 401K is mostly stock based, you're sitting pretty.
“You’re going to be seeing an increase in value. Keep in mind the 401K is just a wrapper. There could be all kinds of investments in it,” Walters said.
There is some debate as to whether this is all due to the Trump Bump, and how much impact the President’s speech had on the markets this week. Walters says at the end of the day the speech probably was part of the equation.
“It does help when someone lays out the numbers they want to see,” Walters explained. “It reduces a little bit of uncertainty in the markets.”
Walters says President Trump has been more direct in communicating what he wants to see happen, so investors are more comfortable in going 'all in.'dow