Investors urged to be careful but stay the course as the markets rollercoaster

BusinessFinancePoliticsDow Jones Industrial AverageFort LauderdaleFinancial PlanningElections

Financial planners have been trying to both warn and reassure nervous investors over the stock markets' recent plummets.

In fact, CNBC financial guru, Suze Orman, who owns a home in North Broward, advised in a tweet that "these markets could continue to go down.''

But, she added, "if you are dollar cost averaging in good quality stocks, ETFs, Mutual Funds, you are okay -- don't stop.''

She did advise putting on the brakes "if you are a lump sum investors -- where you take all your money and invest it in one lump sum -- I would not be doing it quite yet."

Matt Saneholtz, president-elect of the Financial Planning Association of Greater Fort Lauderdale, told clients to stick with their investment plans as long as they did not need their money immediately.

"We're long-term investors,'' he said. He said there is always the chance of short-term volatility.

Still, he admitted, that many of his clients have been rattled by the recent plunges, especially on Friday and Monday with the Dow Jones Industrial Average dropping more than 500 points each day.

"There's obviously a lot of uncertainty, of fear,'' he said. "No one knows where the economy is going, whether it is going into a double-dip recession.''

His clients have been saying, "I've been patient up this point,'' Saneholtz added. "They want to share their unhappiness with the current situation."

People also have been using humor to cope. One man tweeted "My 401(k): RIP.''

dgehrke@tribune.com, 954-356-4205

Copyright © 2014, Los Angeles Times
Comments
Loading