know is picking a school this month but if your major is x and the job market needs y you could end up drowning in debt with a big zero. before you cash in your chips you want to make the right decision. in this economy the only way to get rich is to get smart because smart is the new rich. so how can you get ahead as the economy improves? clark howard is hln s money expert. terry savidge is a financial columnist and author of the savage truth on money. clark, the dow, the s&p 500 shattering records. if you re riding this bull run, you want to know if it s time to sell. if you re not in the market you want to know if it s too late to get in. let s start simple. when do you sell this market? when you need the money, truthfully, because i m the turtle, and what i do is every month i put in a set amount of money into a variety of investments. i ve been in thick and thin, going back you think about the crash in 2000, when we hit the
the path to least resistance is higher. as long as corporate earnings are strong, to this point, corporate earnings have continued to be very healthy, and barring a severe u-turn really in the economy, there really is a clear path to corporate america continuing to report good earnings, and in turn, that would support the stock prices. good earnings, they got a lot of money in the bank, they re not necessarily hiring people with all that money and that s the thing that really confounds the half of america, terry, who aren t in the stock market. recent cnn/orc poll found 55% investing in the stock market was a bad idea. how do you change the attitude toward investing so more americans can take part in wealth building? you look at for example the lottery. you can t win if you don t play. could you say the same thing about the stock market. if you re not in, you can t complain because some people are getting rich in stocks. the odds are so much better
opportunity with these ultracheap interest rates. terry, let me ask you about a mortgage. is blurring better on the mortgage front if you re a first time home buyer, do you need a 30-year fixed rate mortgage and that s the way to get into this game? absolutely, yes, you do. you lock it in around 3.5% for 30 years, even though you might not want to have that home for 30 years or you might want to pay extra on the mortgage. if down the road because of all the money creation, interest rates rise, will you find other things to do with your extra money but in the meantime, give yourself and your family budget that security of knowing what the rate is. don t go for 2.9 % because it will adjust in a few years. lock it in for 30 years. that s the most important thing as a young person getting started. i think when you look at where rates are today if you re talking about anything adjustable there s only one way for that to adjust, up, up, up. clark and kerry, so nice to see you this morn
low point four years ago. i stayed in. i ignored all the hype. i ignored all the fear of four years ago. if you stay in the game, you don t try to guess when to get in, when to get out. things may be a little overvalued right now because of the federal reserve manipulating interest rates down and people looking for a place to put money, but still, you got to think about your time horizon. i got a long time before i need the money. i m in the game and i m staying in. terry, he s in the game and staying in. and we ve come into this crazy time when we re almost becoming immune frankly to stock market records, again and again they re shattering these records but that can t last forever. what should people be doing right now their investments? well, clark and i preach from the same hymnal here. we believe and know for a fact nobody ever got rich betting against america. there s never been a 20-year period where you ve lost money
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