Tulsa - Financial analysts are spending much of their time trying to calm nervous investors. NewsChannel 8's Bill Mitchell spent the day with one to find out how they are trying to make the ride a little less rocky.
In Tulsa today, nervous investors spend a lot of time on the phone looking for advice on what to do next. The biggest advice they are getting? Don't panic.
Stan Rickner is president of Seasons Financial Group. With more than 15 years of experience, he has seen down markets like this one before and now, with eight straight days of down markets, his advice has remained the same.
"Stick with the plan. We've got a plan in place for each one of our clients and we're sticking with the plan," Rickner says. "Right now is not the time to sell. If it's the wrong time to sell, it's the right time to what? And, that is to selectively buy into the market. The market is on sale. We're literally at a 40-percent discount."
Rickner urges people with 401k plans to continue to invest because, he says it's a great time to put money into the market.
He says if the current stock market causes people to have a lot of anxiety and lose a lot of sleep, then it might be a good time for them to pull out and just step aside and wait until things calm down.
NewsChannel 8 to leave comments on news stories.