What if you're 10-20 years away from retirement? Stay in stocks, says this financial adviser -- stocks will (eventually) come back up.
For Thursday, we’ve got earnings news ahead from Apple, Amazon and Gilead, the latter of which has been fueling optimism with its own COVID-19 treatment.
“If you were already in the stock market on Feb. 1 or March 1 or April 1, and you watched the market go down and those resources are allocated to a long-term goal and your risk tolerance is still suitable, there’s no need to change that because the market is eventually going to go back up,” says Orth.
Orth says Ameriprise started preparing clients for a downturn last fall, selling out of positions and making sure they had enough cash on hand for any near-term purchases. For example if you need a car on May 30, start getting the cash ready, she says. Europe stocks SXXP, -1.00% edged lower, with the European Central Bank leaving key interest rates unchanged, and President Christine Lagarde warning that the eurozone economy could fall by as much as 12% in 2020, with French and GDP numbers out earlier worse than expected. Asia markets tracked Wall Street gains.
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