WICHITA, Kan. (KSNW) – The current flux in the stock market amid the coronavirus raised many concerns with people’s investments.
“There are multiple factors that impact the way the market moves,” said Karen Reimer, a certified financial planner.
She says people need to look at the data and think with reason instead of their emotions when making changes to their investments.
“So, the emotion is really real and I think it merits in being identified and related to, but we need to take that emotion and not necessarily act on it,” she added.
Reimer says people who are closer to retirement are more inclined to make hasty decisions when it comes to their investments.
“People who are within five years of retirement find this kind of thing extremely disconcerting, and statistically the five years before retirement and the five years after retirement are very critical,” said Reimer “Doing the right kind of planning and the right kind of strategizing in order to ensure that your money is going to last as you need it to,” she said.
Reimer says people need to look at their assets in order to know what steps to take before deciding whether or not to pull out of their investments.
“I would hope that they have been diligent in finding ways to anticipate what they need in the early years of their retirement, figure out what you are getting from social security figure out what you’re getting from a pension if you have one,” said Reimer.
She says investors should consult a fully certified financial planner when wanting more information about their investments or stocks.
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