Stock market turbulence is still not shaking confidence for some local investors. A downturn in the economy can still mean an upswing for your investment.
Janet Arthur hopes to wait out a tenuous stock market with her husband and still cash in on her investments. "It's a little scary because we are both 60 and we want to retire in a few more years," says Arthur.
Her financial adviser, Kyle Vest, says Arthur should not worry. "For most people the best thing to do is to stay the course, make sure you own quality investments and don't panic. And really if you have extra money it's a great time to add," says Vest. A time to add to your investment contribution because stock values are low.
Vest points out one of the most important things you can do is find out what's in your 401K. "Alot of people own an investment but really don't know what it is. 'Is this agressive? Is this conservative? Or is it middle of the road?'" Vest notes a financial adviser will probably review your portfolio with you for free.