Unless the stock market takes an unexpected dive today, we will see a record many of us never thought we’d see 10 years ago.
If we get through today without a crash the bull market that started in March of 2009 will have lasted a record nine years, five months and 13 days. Financial planner Richard Rosso explains that conditions were right for this to happen. For instance, the Federal Reserve kept interest rates in check for years.
“It’s been a slow boil. Think about when you put water on the stove at a low temperature. The water can stay in the pot for a heck of a lot longer,” Rosso explained.
But what does this really mean to you? Rosso says that depends, because following the financial crisis a lot of people simply were scared to invest.
“You have a generation of investors that pretty much gave up after 2009, and you have a new generation of investors that don’t trust the stock market,” Rosso said.
But even if you missed out on gains from stocks during this bull market, Rosso says you may have benefited because the value of your home has gone up over the years.