Roller Coaster Market: Tips on Investing Your Money

Stock market experts say January was a wild month but ended on a good note.

Jumping into the market can be scary but here are some tips for people already investing and those looking to start.

Experts say 2013 and 2014 were both good years for the stock market.

Last year’s was neutral.

But 2016 started with a bang in the wrong direction.

I spoke with a financial advisor and got tips on where you should be putting your money.
 
“Historically the market has been a really good place to be and give you a good return. We like to say this is a great time to buy the stock market on sale,” says Legacy Wealth Management President Paul Meyers.
 
The stock market can be confusing, especially if you don’t follow it.

But if you’re looking to get into the market, Meyers says the first step is to seek help from an expert.
 
Meyers explains, “Is to contact a good financial advisor. Talk to them about your goals, your needs and your resources.”
 
For people looking to get their feet wet or already swimming in the market, another tip to succeed is to look for blue chip stocks.
 
Meyers adds, “You’re looking for companies that have been around for a while, that aren’t just based on the latest fab or the last thing going on.”
 
Blue chip is stock in a corporation with the most quality and still, profitable during good or bad times.

But if there’s anything you should really be banking on, it’s on yourself.
 
“If you have a 401k plan first of all it’s a good retirement plan. Put as much in that as you can. And number two, don’t just forget about it. Take a look at what you’re invested in because that will make a huge differences,” says Meyers.

Even with the stock market being volatile, Meyers says,”prices are good. And the market is going to be okay in the long run. The markets going to do just fine.”

Financial experts say right now is a good time to invest due to all the low interest rates.