Financial expert talks about what you need to know during difficult market times
JOPLIN, Mo. – The markets have been in a tumble following the outbreak of the Coronavirus sending some investors into panic. However, some financial experts say things might not be as bad as they seem.
“We have a couple of different things at play, the main thing is the Coronavirus itself, first and foremost that’s a health crisis, and people are concerned for their health mostly, but it is having an impact on our economy.”
Kelley Foust is a Financial Advisor with Edward Jones in Joplin.
She’s been monitoring the markets and says she’s had clients pouring in with concern about their investments and retirement. “It’s that uncertainty that really creates the volatility in the market and until we get some certain answers we’re going to continue to see some volatility in the markets.”
Foust says there’s good reason to believe that things will improve, but, there’s not a specific time frame as to when that may happen. Despite the concern in the market, she says it’s important to remain calm and focused on long term goals. “I would let your goals be your guide and not your emotions right now, because, emotions can really impact some of our decisions at times and we don’t want to react emotionally and panic has never really paid out for anybody.”
Foust says in the end though, once things settle down, people will want to return to traveling and being out and about. “A compelling argument could be made that we’re positioned nicely for a vigorous rebound once this subsides.”
Foust says if you do have any concerns, or want to look at changing your investments, to just call your financial advisor before you make any drastic changes.