Despite the big swings in the stock market, there isn’t as much to worry about, as some are suggesting.
That’s the advice from local financial guru, Jim Naleid of Naleid & Associates.
Naleid says volatility might be there occasionally on Wall Street but, over time, the trajectory is up. So, get out of the mindset, he says, of playing the market to get rich overnight.
“If you have a (well-diversified) portfolio, that meets up with your time expectations, you should be fine,” Naleid said Wednesday morning on WIZM with Mike Hayes.
Naleid added that Wall Street tends to act independently of politics.
The stock market swings are normal, and not necessarily a function of who is occupying the White House, he added.
“The market does things regardless what’s going on in the beltway and Washington, D.C.,” Naleid said.
As wild as the dips and dives in the markets seem like this week, the percentage changes are pretty moderate, Naleid pointed out. Keep your even keel investment strategy in place, he says, and you should be fine over the long haul, though it never hurts to take a look at how you’re padding your nest egg.
“You do have to rebalance and look at issues from time to time especially in light of all the complex issues that are on the table today, politics included,” Naleid said. “So, it really comes to your individual needs and when you’re going to need that money.