When it comes to the overall economy and the stock market, the word often used to describe both these days is “volatile.”
In recent months inflation is up, Wall Street is down, and for those who are watching their investments and retirement accounts, “panic” is a word that has also been heard.
That feeling is understandable, so we went to several Valencia County financial advisors to get a better understanding of the big picture and what we can do to ease our fears.
Justy Armijo is the director of investment services for Nusenda Credit Union. Yvonne Sanchez, of Rio Grande Financial Network of Los Lunas, has more than 30 years of experience advising clients. Both believe investors should stay patient.
“The stock market has always outperformed every other asset class,” Sanchez said, “and this is not the time to panic and sellout. You’ve got to kind of ride out this storm and be confident that in our country, we’re going to get through this.”
Armijo has a similar belief.
“The current state of the markets will work itself out,” Armijo said.
Do we just hold our breath until the upturn arrives? Not according to Sanchez, who recommends being proactive with your financial portfolio. Know what is in it. Know where you stand.
Work with your company’s financial planner or another financial agent or banker to make sure your investments are diversified and balanced, lowering the risk factors.
Original source found here.
