The New York Stock Exchange has been down and up since Donald Trump's election went from unlikely to reality.
Markets calmed down as the idea of President Trump settled in. The Dow Jones Industrial Average closed up more than 250 points, and at a record high.
Certified financial planner Steve Pomeranz hosts a weekly radio show on NPR from his Boca Raton office.
“What the stock market does on a day-to-day basis is really just a bunch of noise,” said the host of The Steve Pomeranz Show.
But looking at the long term gets a little murky, according to Pomeranz.
Trump has promised to cut taxes, pump money into infrastructure and rework trade agreements. But Pomeranz hasn't seen a detailed plan on how Trump will deliver it all.
“So there is an awful lot of uncertainty until things parse themselves out,” he said.
Pomeranz said with lower taxes, people and corporations will have more money to spend and invest. But changing certain trade agreements could mean higher prices for U.S. consumers.
If Trump does what he says, Pomeranz expects stock prices will go up. So he suggests you invest now and hold. Don't act on every spike or drop.
Michael Brill learned how to invest the hard way. He said he lost money going all in on a stock market spike years ago. This time, he'll let the market work itself out.
“If you can't afford to lose it, don't invest it,” Brill said. “And if you invest it, don't worry about it.”
Pomeranz isn't worried and said you shouldn't be either.
“Neither your greatest fear, nor your greatest dream are likely to come true,” he said calmly.
Other financial experts are keeping an eye on interest rates. They wonder if Trump will push to replace the chair of the Federal Reserve, who sets the rates.
The last time interest rates went up was December 2015.
