It has been a wild ride for investors in 2018 with the Dow down over 8 percent for the year. But one financial advisor says the economy is solid and you need to stay the course.
For investors – Wall Street has been a very rocky road to travel in 2018. With wild swings up and deep falls down, leaving people nervous about what the future holds.
“That’s a signal of waning consumer confidence,” said Dean Listle from Secure Retirement Solutions in Green Bay.
And this investment advisor says breath deep – it’s not as bad as it seems.
“Ignore the noise, hard to do, but ignore the noise,” said Listle.
The financial advisor says – yes – the Dow is going through an aggressive correction right now, down over 8 percent from 2017. But investors need to remember all the gains made during the past seven years.
“The percent change is 157 percent during that bull market,” he said.
Listle says unlike the Great Recession – when the housing bubble burst and banks and automakers went out of business, our economy is solid with unemployment at records lows.
“Economically we are significantly stronger than in 2008,” Listle said.
But he says there is uncertainty and the market doesn’t like it; talk of tariffs from the White House, rising interest rates and tough trade negotiations with China.
“It’s a perfect storm that we have a number of items all coming together at the same time,” he said.
Listle says if you are 40 or younger the dip creates a buying opportunity. If you are older – relax and stay the course.
“If you had good investments back in September, chances are they are still good investments.”
Because this market correction was long overdue and one day the wild ride will come to an end.