Despite White House policy uncertainty, devastating hurricanes, interest-rate hikes and a North Korean nuclear threat, the stock market surged nearly 20 percent last year. But, now, it’s nearly eight percent below its January all-time high.
CPA, tax attorney and author Mark J. Kohler said this year’s returns will still be better than average compared to the last 10 years. He said this is Wall Street versus Main Street and there’s nothing you can do, but buckle up and trust Warren Buffett—unless you want to take control.
“If you’re not happy putting on your blinders, with this crazy topsy-turvy experience of your 401K where you have no control of it, stop the insanity, get off the roller-coaster and take control of your retirement account,” said Kohler.
He said whatever you do, just don’t blindly follow Wall Street, the stock market and your advisor.
“I’m not saying get rid of your entire 401K, but if it’s just sitting in mutual funds, maybe take 20 or 30 percent of it, or 40 or 50 percent of it and put it in some things you’re more confident in,” said Kohler.
Experts recommend:
Check in on your portfolio
Benefit from dividend-paying stocks
Don’t try to time the market