Greetings! I trust that this will find you well and enjoying life.
The market volatility that I spoke about in my last writing began to manifest itself early last week and intensified as the week progressed. As of today the draw down has reached an official technical “correction” which denotes a 10% decline in the broad markets including all major indexes. It is a natural for a sell off to occur periodically. This time initiated for the most part from a recent market sell off in China’s markets and uncertainty about the ongoing strength of their economic expansion. I continue to remain positive long term about US markets because of the continued strengthening of our economy and the forces behind that.
What should you do with the sell off and volatility accompanying it? Stick to your long term plan. Don’t react and panic and do something rash. Count on the fundamentals to sustain you that I wrote about last Monday.
If you have questions, concerns or feel that I can help in any way with your retirement planning don’t hesitate to call.
Best regards,
Jeff Christian CFP, CRPC