by Christa Lollis
The stock markets are still buzzing with energy but their numbers are way down.
Financial advisor, Robert Telford says, "I'm sure people are afraid and there's a lot of fear out there. The economy's not doing great and with the banking debacle there's a lot of fear. The markets down more than 20 percent for the year."
He also said that what will save investors is putting your money in secure investments like 401K's and low risk stocks. But, he says what we're seeing now isn't anything new. He remembers a time in the 80's when a lot of people were scared to invest in anything. "The prime rate was in the neighborhood of 22 percent and here in that time across the U.S. on savings loans and banks there was over 800 savings loans and banks that went by the wayside."
In the last few months several banks have closed and that's why Telford says you have to ask questions. "It makes sense to know something about your bank if you're gonna go over the insured amount but as long as your insured you're gonna get your money, your not gonna lose any money and there's nothing to fear."