Here's some advice from an expert on how to navigate risk tolerance in a volatile market.
Tony Drake, CEO at Drake and Associates, broke down the advice he's been giving his retiree clients when they express anxiety about the market volatility.
Here's what he told TheStreet.
"A big question I'm getting from all my retirees today is, should we stay in or should we bail? Is this time to get out and go to cash? And we look at gold. These type of market phenomenons give us a great opportunity to take a look at. Do we have the right balance? Do we have the right risk tolerance set up in our portfolios? But if you have a good plan, a good income plan, a good plan that's balanced for the long term, these type of phenomenons might actually provide an opportunity to buy into the market at a low point," said Drake.
Jim Cramer and TheStreet Launch Bull Market Fantasy Channel on Maven
Catch Up: Today's Top News Videos Below