As stock markets tumble, experts urge patience

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As stock markets drop and the Federal Reserve announces interest rate hikes to try to slow inflation, New Hampshire residents said Thursday the financial uncertainty is affecting their long-term plans.The stock market has had a turbulent few months. On Wednesday, stocks skyrocketed after the Fed hiked interest rates 0.75 of a point but then fell Thursday as investors began to weigh the possibility of a recession.”The expectations that we are going to go immediately into recession are probably a little bit overblown,” said Tim Lesko, of Marine Wealth Advisors. Lesko recommended that people take risks they can afford to take.”Most investors know that we are going to have bull markets and bear markets and economic expansions and economic contractions,” he said. “So, when you see big market down days like this, this means that some people are really unwinding risks that they did not want.”Granite Staters told News 9 that one big concern is how the turbulence affects retirement.”A lot of people have their IRAs and retirement accounts invested in the market one way or the other, and people may either not be able to retire or have to retire further out,” said Jesse Fournier, of Manchester.That, on top of rising costs of other necessities such as food, gas and rent, is causing many to scale back on their spending.”For the lower middle class like me, yeah, things are very hard right now,” Fournier said.The big question on everyone’s mind is when the financial ups and downs will end. Lesko advises being patient.”The market tends to go up over time,” he said. “And we’re still pretty constructive on where that’s going to be looking out a year or two years, three years from now.”Lesko said another thing to keep in mind is planning. He advised not to keep all your money in one spot.

As stock markets drop and the Federal Reserve announces interest rate hikes to try to slow inflation, New Hampshire residents said Thursday the financial uncertainty is affecting their long-term plans.

The stock market has had a turbulent few months. On Wednesday, stocks skyrocketed after the Fed hiked interest rates 0.75 of a point but then fell Thursday as investors began to weigh the possibility of a recession.

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“The expectations that we are going to go immediately into recession are probably a little bit overblown,” said Tim Lesko, of Marine Wealth Advisors.

Lesko recommended that people take risks they can afford to take.

“Most investors know that we are going to have bull markets and bear markets and economic expansions and economic contractions,” he said. “So, when you see big market down days like this, this means that some people are really unwinding risks that they did not want.”

Granite Staters told News 9 that one big concern is how the turbulence affects retirement.

“A lot of people have their IRAs and retirement accounts invested in the market one way or the other, and people may either not be able to retire or have to retire further out,” said Jesse Fournier, of Manchester.

That, on top of rising costs of other necessities such as food, gas and rent, is causing many to scale back on their spending.

“For the lower middle class like me, yeah, things are very hard right now,” Fournier said.

The big question on everyone’s mind is when the financial ups and downs will end. Lesko advises being patient.

“The market tends to go up over time,” he said. “And we’re still pretty constructive on where that’s going to be looking out a year or two years, three years from now.”

Lesko said another thing to keep in mind is planning. He advised not to keep all your money in one spot.