MEMPHIS, TN (WMC) - If you've been paying attention to money markets lately, you've seen some record highs.
A local financial advisor offered tips on how Memphians can get in on the action and improve their investment portfolio.
"We don't know what 2018 will bring; we're anticipating a reasonable year," John Miller said.
Miller has been a financial planner for Edward Jones Investments in Germantown for nearly two decades.
"We are cautiously optimistic," Miller said. "We don't expect to see the continued robust gains that we've seen in recent history."
He said on average, we usually see volatility in any given year, but in 2017 there wasn't any.
"We still have political uncertainty. We still have GEO political uncertainty. We have wage increases right now. Unemployment is the lowest it's been since 2000," Miller said. "Not to scare anyone [but] just be cautious what's going on in the world and how that can effect a portfolio."
Miller said Memphians should take comfort in the strong and robust local sector.
"Look at out community, look at what we're doing downtown," he said. "Look what we're doing at Overton Square; there's a lot of economic engines running in our city right now."
Every investor has different goals, and a lot depends on your age and what you want out of the market.
"Be diligent in building a very diversified portfolio that covers multiple sectors so that you can participate in an up market and also protect your money in a down market."
Miller said the tax cuts and changes to the federal tax code will help working Americans modestly. He's not expecting a big impact from the changes to the tax code in the year ahead.