Local Advisors React to Stock Market Tumble, Post-Election Day - Northern Michigan's News Leader

Local Advisors React to Stock Market Tumble, Post-Election Day

Posted: Updated:

The election is over, and the stock market felt the change today.

The DOW fell below 13,000 for the first time in about two months.

Analysts say tax hikes and spending cuts set to take effect at the first of the year known as the "fiscal cliff", is pulling the market down.

Local Advisors tell us the smart thing to do is think about when you'll need cash and long-term goals.

Jay Berger from Independent Wealth Management says,

     "What happens is people make trades sometimes based on day to day news and they shouldn't be doing that.  If they were concerned about the elections, they should have been making changes to their portfolios a few months ago."

Advisors say the best advice for investors is to plan ahead, rather than making decisions based on day to day changes in the market.

 

  • Most Popular StoriesMost Popular StoriesMore>>

  • Antrim County Deputy Accused of Theft

    Antrim County Deputy Accused of Theft

    Tuesday, July 22 2014 5:41 PM EDT2014-07-22 21:41:51 GMT
    An Antrim County Sheriff's deputy is being charged with theft crimes today. The Antrim County court says Deputy Michael Bingham is accused of taking money that was seized during the search of a home in Mancelona.
    An Antrim County Sheriff's deputy is being charged with theft crimes today. The Antrim County court says Deputy Michael Bingham is accused of taking money that was seized during the search of a home in Mancelona.
  • GT Co. Police Investigating Meijer Retail Fraud

    GT Co. Police Investigating Meijer Retail Fraud

    Tuesday, July 22 2014 1:00 PM EDT2014-07-22 17:00:59 GMT
    Grand Traverse County Sheriff's Office is investigating a retail fraud complaint. The incident occurred Monday, July 21 around 7:40 p.m. at Meijer in Traverse City.
    Grand Traverse County Sheriff's Office is investigating a retail fraud complaint. The incident occurred Monday, July 21 around 7:40 p.m. at Meijer in Traverse City.
  • Two Admit to Making Meth in Wexford County

    Two Admit to Making Meth in Wexford County

    Tuesday, July 22 2014 11:00 AM EDT2014-07-22 15:00:34 GMT
    An update on a story we first told you about in March. Two people accused of making meth in Wexford County have admitted to the crime. 
    An update on a story we first told you about in March. Two people accused of making meth in Wexford County have admitted to the crime.