A new survey from financial advisors shows that 42% of Minnesotans are pessimistic about the economy. Chris Wayne, President, and CEO of Laraway Financial Advisors in St. Cloud say uncertainty and volatility in the markets are not a heightened reason to panic about the health of personal retirement accounts:
“Is it time to panic I would say no you just have to kind of weather the storm it’s always good to reevaluate your risk tolerance but I don’t believe it’s a time to panic not at all.”
Wayne says the best way to control market volatility is to have some extra cash on hand and double-check your investments to make sure they match your risk tolerance.