NORWALK - As much as investors may be unclear about what to do with their money given the volatility of the stock market, financial experts haven?t reached a consensus either.
The experts do agree that the best solution depends on the investor?s current situation.
Eric Tashlein from Connecticut Capital Management Group in Milford says timing the market typically doesn't work, especially now. ?Try not to follow the herd and get out completely,? Tashlein says. ?I don't think that makes sense for anybody at this point.?
Tashlein says even retirees should keep their investments where they are because no one knows what will happen in the markets next. However, he recommends making financial adjustments for those who have trouble paying their bills.
Mathew Tuttle, of Tuttle Wealth Management in Stamford, says investors should be active about their finances. ?Don't just sit there and take it,? he says referring to the ups and downs of the stock market. ?Yeah, eventually it will come back but the question is will you be alive when it does.?
Tuttle says not to put money in the stock market if it will be needed in the next five years. He says to take that money out immediately.
Both Tashlein and Tuttle say the best thing investors should do is sit down with a financial planner before making any moves.