Lufkin financial advisors comment on Fiscal Cliff - KTRE.com | Lufkin and Nacogdoches, Texas

Lufkin financial advisors comment on Fiscal Cliff

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LUFKIN, TX (KTRE) -

"I don't know how we can fix this thing", said Senate Majority Leader Harry Reid.

Comments like Reid's and four days left till America goes over the so called "Fiscal Cliff" has many people worried about financial security; even enough to think of selling off stocks

Local financial advisors say this may not the best idea.

"Most people will ride it out and wait for the results, no one I know is selling off anything," said Larry Byrd of Williams, Byrd, Attorney's at Law in Lufkin.

"We've seen a little bit locally but I think common minds and common since are not reacting as they did in the past," said Robert Telford of the Advanced Financial Group.

Telford has more than 30 years of financial experience and has seen this before, warning that by selling now, you may not make a profit later.

He also adds that fear can lead to consequences if the investor makes a poor decision.

"Just to sell out because you think we are going to get bombed on this cliff, I'm not saying the market won't go down but I think they are going to fix this thing," said Telford.

Even those who understand the market are still getting mixed signals.

"I heard a commentator on t.v. this morning make the remark that they will simply make a deal in January and backdate it to January first," said Byrd

They agree that when a deal hits the market will find it's place.

"It's all uncertainty now. Rules, whether you like them are not, once you know what they are business will react to that," said Telford.

Until that happens it remains a waiting game.

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