Importance of an Advisor during a Recession
Recessions can be quite unsettling. It’s important to have someone you can turn to for advice when you need it. Here are some of the benefits of having an advisor during a market downturn.
Worried about the Market?
2022 has been a challenging year for investors – I have spoken to dozens of clients each week about the market downturn, and whether anything needs to be done in their investment accounts. Every downturn is distressing – uncertainty and unpredictability are no fun – and downturns generally correlate with economic concerns, heightening the worry. What we KNOW is that you can manage a market downturn to your long-term advantage, or you can let the worry lead you into a harmful action.
Risk: How fast can you go?
We have a certain level of control over how fast we drive. The faster we choose to drive, the sooner we get to our destination. This upside comes with a downside, however. The quicker we go, we start to run into several risk factors.
The same argument can be made about investments. The more aggressive the portfolio is, the higher is the potential for a meaningful return. It must be this way in a free market economy.
Why Checking Your Investments is often Painful
Are you losing sleep over your investments?
Do you keep checking your accounts with mobile apps?
Do you follow the financial news daily?
If you answered “yes” to the questions above, you could significantly improve your well-being by merely checking…
What is the biggest Risk for your 401(k)?
We are experiencing exceptional turbulence in financial markets as the first quarter of 2020 has come to an end. Because of the Covid-19 Pandemic, daily moves of up or down 5% in the stock market have become common these days. This environment makes us all very fearful about the fate of our retirement savings in 401(k) plans and IRAs.
So, with all this going on, what is the most significant risk your 401(k) faces?