Financial planners say now is the time to review your investments given changes in the stock market due to issues in Greece and Europe, U.S. debt, the impact of the Gulf oil disaster. Financial planners say it's important to understand how such issues will affect investments.
Emil Everett is an investment advisor and Buffalo native who now runs New Amsterdam Wealth Management in New York City.
He says another a big concern right now is inflation, which typically hurts fixed income investments. "Given the current environment, it's likely we're going to see a 70% chance of inflation re-occuring over the next 12 to 24 months," Everett said. "This is an opportunity for fixed income investors to take advantage of that opportunity and to protect themselves with their fixed income investments."
Everett says many seniors have fixed income investments, which guarantee a return. He says those investors do have options like diversifying portfolios, buying inflation protected bonds or commodities like gold or agricultural products. He recommends talking to a financial planner about various options.