News Talk 94.1/AM 1600 Where The Upper Cumberland Talks
A stable economy should mean a positive year in the stock market, but the presence of COVID still remains a red flag.
That is according to Diamond Financial Partner Jason Murphy. Murphy said while he expects an overall up trend, the market will be volatile.
“I do anticipate a correction in the market in the first half of the year, which is a 10 to 20 percent dip in the market,” Murphy said. “However, I see a strong recovery from that and don’t see us looking at another recession until at the earliest 2022.”
Murphy said the presidential transition does play a part in the economy, but the stock market often has a mind of its own. The Cookeville investment advisor said as COVID goes away, the economy should continue to grow.
“I believe the economy is extremely strong,” Murphy said. “I am looking forward with a positive year in the market. I believe we will have some up and downs.”
Murphy said he recommends people start investing long before retirement.
“The only thing that keeps people from starting is simply that,” Murphy said. “Just get started in investing. You can get started in investing as low as 50 or 100 dollars a month. Don’t put it off until your 50’s or 60’s.”
