- Neighbors tell me how they are feeling about finances right now.
- Chris Buck, a local financial advisor, breaks down the impact and what neighbors should do.
- Video shows what the current stock market is looking like.
(The following is a transcription of the full broadcast story)
After a difficult week on Wall Street had a big impact on 401(k) accounts and investments across neighborhoods, many stock market watchers are wondering what this new week will bring.
“I’m not going to lie, I’m anxious,” said Don Waskiewicz, a Mason neighbor who has felt the impacts of the last couple of years.
“It’s not just the market. You start asking yourself, what is the cost of everything?”
Now, he said he’s seeing the impact of the stock market dropping firsthand.
"You start thinking to yourself, am I still going to be able to retire when I plan on retiring? Or will I have to work extra years?"
Waskiewicz said he has seen the investments he’s made for over 40 years drop drastically.
“Seeing a negative impact on your investments that is equal to many people’s yearly salaries.”
After former President Donald Trump’s newest set of tariffs, the stock market experienced major drops.
Money is still at the top of people’s minds, and neighbors are watching their finances even more closely.
Previously, I met with Chris Buck, a local financial advisor, who said last month that people should avoid making drastic decisions.
“If you pull out now, you will lose money. Or you can wait until the market returns. It will rebound and will return. When will it? No one knows, but it will,” Buck said.
He said neighbors need to be strategic with their investments.
“With the turbulence right now in the market and the tariffs, diversification not only in your market portfolio, but what bonds, stocks, mutual funds you can do based on your risk factor,” Buck said.
Though the volatility has neighbors like Waskiewicz nervous, he said he just has to trust the process and hope for a market rebound.
“I look at it like it’s down, but it’s really not down until you draw it out. So if you draw it out, it is really down, but if you come back, you’re going to be okay,” he said.
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