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Katherine Ross: How should investors approach their 401k or their portfolio?

Tony Drake: The biggest thing is to have a plan. If you have a longterm plan, you don't want to make short term reactions to what I call kind of situational events that happen, right? If we look at this inverted yield curve that's getting all the attention - data shows us, it has to be 10 days plus before it really has a good indication. And again, there's a lot of economists that are saying may not be the indicator that it used to be. Not too much in the six months in, you're following a yield curve inversion can be a really strong. So best thing is to have a plan. Make sure you're staying diversified, rebalance the portfolio, not due to a yield curve inversion, but due to the right balance that fits with your planning, your time horizon.

Whew. 

It's been quite the week in the markets. 

So, after all of this, how should investors approach a 401k or portfolio?

Tony Drake, CEO of Drake and Associates, sat down with TheStreet to discuss how investors should look at their portfolios and 401k. 

"The biggest thing is to have a plan. If you have a longterm plan, you don't want to make short term reactions to what I call kind of situational events that happen, right? If we look at this inverted yield curve that's getting all the attention - data shows us, it has to be 10 days plus before it really has a good indication. And again, there's a lot of economists that are saying [the inverted yield curve] may not be the indicator that it used to be," said Drake. 

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