Keith B. Frifeldt, a senior portfolio manager with Wealth & Creative Preservation in Grand Haven, said it is also important to be cautious about investing.
“The losses and volatility might be OK for a young investor who has plenty of time for their portfolio to recover, but that is not the case for someone nearing retirement,” Friefelt said. “That is why we monitor and adjust our clients’ stock market exposure based on what is happening in the world. We started getting cautious in June and July, and were fully defensive in our clients’ accounts by the first of August.”
Meanwhile, U.S. stock futures fell early today as economic jitters and uncertainty about Europe’s finances fuel another day of selling around the world.
The Associated Press contributed to this report.
To read more of this story, see today's edition of the Grand Haven Tribune.