How ‘financial confidence’ can help you build wealth

#finance #yahoofinance #wealth #financialconfidence #consumerconfidence

The Conference Board reported that its Consumer Confidence Index dipped to 104.7 in March, though the outlook is improved year over year. Echo Wealth Management Financial Advisor Echo Huang joins Yahoo Finance to give insight into consumer confidence, investment psychology, and what investors and consumers should know about saving money to build wealth. Huang reminds clients that consumer confidence is short-term data, encouraging them to diversify across asset classes: “Right now is not as bad as a year ago. Of course with a short-term, investors should be still looking into the obviously the stock market valuation and I believe right now, the S&P index (^GSPC) valuation is relatively full. May not be extreme, but it’s about 20. So, in my mind for clients, I would advise them for the money that they need to withdraw for the next five years, they really shouldn’t have the money in the stock market. Especially when the valuation is relatively high. ” For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Editor’s note: This article was written by Nicholas Jacobino

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