Today is the 20th anniversary of the Dow Jones breaking through the 9,000 mark for the first time in history. Now, of course, we are over 24,000.
You might think that back then the thought of the Dow at 24 thousand would have been crazy. But certified financial planner Richard Rosso says that isn't true at all.
“There were books coming out in 2000 about Dow 100 thousand. We always knew the Dow would move higher. It’s just where you’re caught in the cycle whether you are going to make money or not,” Rosso explained.
So, if that's the case, where could we be in 20 years from right now?
“We could be at Dow 50-thousamd. These are numbers that will continue to grow as long as the corporations within the Dow are doing well,” Rosso stated.
But will we all benefit? Rosso says the one thing that disappoints him about the Dow's growth over the years is that not everyone has been able to benefit because many, thanks to the recession, could not afford to invest in the first place.