'No need to panic': A Lincoln investment group wants people to keep their stocks
An investment group based in Lincoln is telling people they do not need to panic about the over 2,000 point stock market drop Monday.
Capital Consulting and Asset Management have nearly 100 investors in Lincoln and investor Amber Roemer said this is the worst time for people to sell their stocks. "We recommend them to stay the course," Roemer said, "And don't sell anything and, in fact, now is the worst time to sell something."
Roemer said the stock market had a 30 percent increase last year, and seeing it dip this year isn't a surprise. She also said now is the best time for people to invest in stocks. "The stock market is at a clearance or a discount," Roemer said.
University of Nebraska-Lincoln economics professor Eric Thompson said if the economy does slow down nationwide, it will also slow down in Nebraska. While it could slow down, Thompson said it likely isn't long term.
"The risk of a slowdown has increased," Thompson said, "But by no means is it certain it would fall into a recession."
Thompson also said Lincoln's economy is strong enough where if a recession were to hit the nation, the impact would be less severe because of it's growing population.
"I think there's reason to be confident that this economy will respond appropriately," Thompson said, "And the underlying strength will allow us to come out of this."
Capital Consulting and Asset Management said people with stocks should be willing to have them sit for at least five years. For younger people, it recommends not selling your stocks and waiting this out. For people looking to retire in the next year, it said they should rely on a fixed income for three to six months.