JACKSON, Miss– After a hectic day at the stock market Wednesday, News Mississippi got the info you need about managing your money.
When the bell rings at the end of the day and the stocks are down, you may be breaking a sweat. It’s your retirement or your kid’s college fund invested. So what action do you take?
“Now is the time to assess,” says Doug Munzenmay, Client Financial Adviser at Medley and Brown.
That means if you’re invested with an aggressive broker, look at whether or not it needs to me adjusted to a less aggressive stock. Also see if your retirement is banked too much on an ever-changing stock.
“If you’re seventy and in retirement, you’ll want to make sure you aren’t putting too much equity into something that is too volatile,” says Munzenmay.
And if you’re not investing and want to get started, Munzenmay says the best way to do that is to first get educated on the subject. Read and research on different money markets, get an adviser, and know what to avoid.
“Get rich quick products,” says Munzenmay, “usually aren’t real opportunities for anyone.”
