The stock market tumble is deepening, with the Dow dropping another 1,200 points this morning. The S&P 500 fell by 3.8 per cent in early trading today, and the Nasdaq composite started trading today 4 per cent lower.
A local investment advisor is recommending nervous investors to maintain good communication with their financial advisors as dramatic turbulence in the markets in the wake of U.S. President Donald Trump’s sweeping trade tariffs continues.
Larry Short of Short Financial, a branch of iA Private Wealth says market volatility is often taken into account in most financial portfolios, but what an individual investor is willing to tolerate varies from person-to-person.
He says if you’re worried about investments or your pension, open communication with your advisor is important, “to ask them, are you properly situated, what is the specific impact on your own circumstances? Has money be put aside for you, as a pensioner, to continue to be able to spend the way that you have been? ”
“Or is now (the time for) a change? The key is (to) communicate with your advisor to see if you’re properly situated.”