ORLANDO, Fla. – Following the results of the Nov. 5 election, there has been a major spike in the U.S. stock market.
Crypto, tech, and the auto industry are just a few stocks that saw major gains. Experts believe it’s a reaction from investors about pro-growth policies that are likely to be implemented in 2025.
But people are easily spending hundreds of dollars on their grocery bills and having a hard time getting ahead. Investment and wealth advisor Eric Reinhold of Reinhold Financial has been advising clients in Central Florida for 30 years. He says it’s possible to take advantage of the stock market with exchange-traded funds (ETFs).
[EXCLUSIVE: Become a News 6 Insider (it’s FREE) | PINIT! Share your photos]
”Sometimes you can get a lot cheaper price if you go to an exchange-traded fund and for example, if you want to buy the technology sector, you can get just one,” said Reinhold. “And this is just one example, for instance, go to IYW and you’ll get about 30 technology stocks for one price.”
As for the minimum amount needed, Reinhold says, “A lot of those ETFs are $50 a share, $75 a share. So you get the advantage of getting into 30 different stocks that you couldn’t typically buy, for just the lower price.”
If you want to try something less risky than stocks, you can look at a short-term CD.
Most require at least a minimum of $500.
Reinhold says timing is important, and the time is good right now.
“Interest rates are great right now. So, for safety, a three-month CD is a great place to be. The three-month Treasury Bill is probably the most secure thing. It’s paying, a little over 4.5% right now. So certainly that’s a good place to put money.”
He also says trying out this type of investing is not as complicated as it used to be.
“It’s easy-going online, opening up an account and typically you can link it to your bank and then just move some funds over and start.”
Get today’s headlines in minutes with Your Florida Daily:
