It's been a wild week in the markets. Here's how investors should approach their portfolios after a series of volatile sessions in the markets.
Tony Drake, CEO of Drake and Associates, sat down with TheStreet to explain how investors and potential retirees should look at their 401k's after a week in the markets that may have left many with anxiety.
When asked about whether or not investors should pay close attention to the 10-year after a brief yield inversion Wednesday morning.
Here's what Drake had to say:
"You know, it's certainly catching a lot of media attention and in particular for retirees, if you're retired or nearing retirement, hearing all this noise can be really scary. But I think it's important to look at the fundamentals of the economy," said Drake.
And, of course, after a series of volatile days in the market, how should investors approach their 401k? Drake breaks it down:
"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 the 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," he said.
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