Record gains for the stock market are making some people feel better about their financial futures.
Marvin Harris has been retired for ten years and explains, "I'm like everybody else. I'm just hoping it will continue going up and hopefully it won't go down like it did five years ago."
Josh Mattox works for Morgan Stanley. He manages Marvin's retirement savings and knows what the Dow does from day to day is important to his clients.
He says, "The worst thing when the market goes down beyond the fact that your statement is worth a lot less but it is emotional it is draining on people
Harris says, "I lost probably 40 percent of my investments 5 years ago or whatever."
But because he kept his investments and waited the market out, he is in good shape. That's not the case for everyone.
Mattox points out, "If you participated on the way down and lost 40%, but you didn't participate on the way back up, that could be a life changing event in your savings. You missed from 8,000 to 14,000."
Before you start investing, get your savings in order. It is best to have 3-6 months worth of savings put away for emergencies before you start investing.