The market is crazy right now, but Ken Moraif of Money Matters says don't run with the crowd. No matter if you're a new investor or have a massive portfolio, this market is making you frightened. Financial expert Ken Moraif of Money Matters says there are reasons behind the craziness."The market right now is reacting to 2 things at the same time. One is the elections and the other is Coronavirus." Moraif says not to panic, but to expect the unexpected. "Earlier this week...the coronavirus was getting worse - but the Dow's up almost 900 points earlier. It must be because of what we learned on Super Tuesday."
He suggests for you to see a financial advisor to see which is more important to you...growth or saving your principle. .. especially if you are planning for retirement. Handle your investments for what is best for you personally. If you're preparing to retire, like many of Moraif's clients, concentrate on the lifestyle you will want and what will make that happen in this up and down market. "We believe that growth is important for your investments - however, we think that protection of your principle is more important."
Moraif stresses that experience and expertise in your financial planner is key to managing your future financial happiness. Hear Money Matters Saturdays and Sundays on KTRH.