Mar 24, 2020
In times of uncertainty, it's human nature to try and control things - specifically within investing. Some of the most frequently asked questions we've received from our clients are: "Should I be reacting right now to try and stop the bleeding?" or "What are ways to utilize this market downturn to turn a seemingly bad financial situation into a good one?" We've also consistently been asked "Is this downturn different then all previous ones?"
Ben Carlson compiles some important stats in his recent blog post noting that while the U.S. stock market is currently down roughly 32% from all-time highs, that the market falling even up to 40-50% from previous all-time highs has been a fairly common pattern all the way back to the 1920s.
So what should you be doing during this downturn? And what should you be expecting your wealth advisor to be doing during this time? Are there any mitigating steps your advisor should be taking right now that will help to keep your portfolio diverse and set you up for the best possible outcome in the future?
Brandon and Erik discuss these questions and more in this week's episode.