Posted on Thu, Sep. 25, 2008
last updated: September 25, 2008 12:27:33 PM
Here's some basic advice for investors worried about the turmoil on Wall Street: Don't hit the panic button.
Instead, call up your financial adviser, who more than likely will tell you that you can ride out the trouble without major changes to your portfolio.
"For the most part, if they're already invested correctly, they should stick with it," said Jeff Burrow, a financial planner and co-founder of Valley Wealth Inc. of Modesto.
He and other experts in the area said the turmoil, while not something they welcome, is just another bump for a financial system that has long-term strength.
They said bear markets give way to the bulls, as happened after the plunges of 1929, 1987 and 2001. And they said many companies are well-removed from the current problems -- fueled mainly by bad mortgages -- and remain sound investments.
Read the complete story at modbee.com