Recent Market Activity Impact on Seniors
We are unfortunately experiencing another difficult stock market day. This can be a worry for all, but especially for many seniors who need their savings for care and other expenses. Try to not focus on the market daily, remember that this is cyclical. Remember that right now nothing is fundamentally wrong with the economy, the market, or earnings. Experts at Merrill Lynch indicate that this recent downturn appears to be entirely political in nature and will likely snap back on track at any time.
Until then, do not do anything drastic in terms of financial decision making or changes. Most seniors are conservative in terms of their portfolio, approach to savings and overall financial management, which will carry them forward in a positive way.
So, stay calm, stand firm and wait things out...it will cycle back!