Dow hits 24,000 for the first time

Dow hits 24,000 for the first time

November 30, 2017

The Dow Jones Industrial average hit a record new high Thursday, topping 24,000 for the first time, adding to the already sizable 2017 gains of 401(k) investors that have exposure to stocks in their retirement accounts.

The 2017 stock market rally has pushed the Dow up more than 21%, has been fueled by a global economic recovery that has been a boon for corporate profits and has lifted consumer confidence to its highest levels since 2000.

High hopes for passage of the tax bill in Washington, D.C., has also elevated the mood of investors. Lowering tax rates for businesses and everyday Americans is seen as stimulating corporate sales and profits as well as consumer spending. 

Now is a good time to lock in your gains and move some of your equity into a fixed indexed annuity. By doing this you will have safety of principal and at the same time be linked to an index so if the markets continue to move up you still participate in the gains without the downside risk.  

There are many variations of fixed indexed annuities on the market so it's important to work with an adviser well versed on this subject to find the right one for your needs.