After two days’ worth of losses on Wall Street, the Dow Jones recovered by gaining over seventy points in trading yesterday. But that doesn’t mean investors were not nervous.
Indeed, financial planner Andy Smith he says there were some nervous people earlier this week.
“It’s no fun to watch. Clients were not concerned. They just want to know what’s going on,” Smith explained.
But he also says you have to take days like Monday and Tuesday and not get too worked up by what happens.
“The more that you watch the market the more you’re going to drive yourself crazy. You have to pull back and you have to look long term,” Smith said.
So what should you be doing as we move along this year when it comes to your portfolio? Smith says it's a three-pronged approach.
“Optimize, increase and long term planning. This is where everything comes together. You are looking at your goals and your time horizon,” Smith stated.
Smith co-hosts 'Investing Sense' airs Saturdays at 10am here on Newsradio 740 KTRH.