Gross Domestic Product for the second quarter of 2014 rose 4%, which was better than the 3% consensus expectation among economists. EverBank Wealth Management senior market strategist Chris Gaffney tells TheStreet's Joe Deaux that while GDP was strong, investors shouldn't jump in front of the train too quickly to pile their money on the sidelines into stocks. Gaffney says that it's a good time for investors to start looking at where they may want to start investing extra cash. Gaffney also points out that investors should keep an eye on the Federal Reserve's interest rate policy.

More from Video

Video: Jim Cramer on Trade Tariffs, Rising Rates, Kimberly Clark and Hasbro

Video: Jim Cramer on Trade Tariffs, Rising Rates, Kimberly Clark and Hasbro

Video: Stop Using Student Loan Money to Buy Bitcoin

Video: Stop Using Student Loan Money to Buy Bitcoin

Let the Najarian Brothers Crash-Proof Portfolio

Let the Najarian Brothers Crash-Proof Portfolio

Learn Options Trading from the Najarian Brothers, the Best in the Business

Learn Options Trading from the Najarian Brothers, the Best in the Business

Jim Cramer: Kimberly Clark's Quarter Was Better Than Procter & Gamble's

Jim Cramer: Kimberly Clark's Quarter Was Better Than Procter & Gamble's