The stock market has been performing well over a year now. But, there is a feeling that could end.
Yes, we've heard those predictions for a while. But Derrick Kinney, a private wealth advisor, tells KTRH there are some specific things that could cause a downturn. For instance, if the Federal Reserve raises interest rates too aggressively.
“If they were to be too aggressive, that has been proven in the past to slow the economy down and drag the market down,” Kinney explained.
So what should you be doing to prepare for this?
“Talk to your advisor about how you would feel if your portfolio dropped by as much as $200 thousand,” Kinney stated.
Kinney says take some risk off the table, play it conservatively, and if the market drops, you still have something to show for it.