Retirement planner, Jarrod Null leads a State of the Markets seminar in Nacogdoches.
State of the Markets has a lot of investors concerned, but the panic of years past exists with few.
Judy Stoddard, a retired investor, takes notes and remains confident her IRAs will serve her well during retirement.
NACOGDOCHES, TX (KTRE) -
Due to national attention, investors with 401ks and IRAs know the stock market is steadily dropping. Thursday marked the fifth massive decline in the last six days. The concern is what it means for a person's future or current state of affairs if they're already retired.
Nacogdoches retirement planner Jarrod Null's seminar on the State of the Markets couldn't have come at a better time. He began with a reminder of performance before the downfall.
"The market hasn't even gone down by half of a percent in two days in a row for 310 trading days," said Null
Investors knew a plunge had to happen sooner or later.
"In reality I knew at some point things would level off a little bit. It would have to," said investor Judy Stoddard.
Now retired, the Garrison resident and her husband rely on their IRAs more than ever. The Stoddards remain confident. It's a big difference from how the couple reacted back in the stock market crash of 2008.
"We panicked, as did others, and pretty well got out of the stock market. Regretted it later," said Stoddard.
Working investor Cory Beasley is at least 30 years away from retiring. He's a banker who remains calm about his 401K.
"In the long term the market has performed well and you can ride out those volatile times. Back in 2008 the market fell 50% and we're back above those levels now quite a bit," said Beasley.
Null tells clients if you're nervous about the stock market it's probably time for what he calls a 'gut check'.
"A gut check is a chance for people to evaluate what they're doing. If you're watching the news and you see the market is going down and you get concerned about those headlines than you try to make sure you're on track to meet your goals," suggested Null.
Beasley invests each month and has over the last 15 years. The Stoddard's have safe money accounts.
"That makes it easier for us knowing that these ups and downs aren't going to effect our retirement," said Stoddard.
Stoddard left the seminar thinking about her afternoon canasta game, instead of panicking about the stock market.
Pineywoods Financial is bringing lunch and learn discussions to Nacogdoches. Next month's topic is taxes.