Amid scary headlines of war breaking out in Europe and higher prices of oil and gas, it’s best to sit tight, especially for Mom-and-Pop investors, some experts urge.
Instead of making panicked moves in retirement and other investment accounts, financial planners said it is best to view these geopolitical shock events as short-term.The biggest impact will likely be to oil and gas bills, said Tim Chubb, chief investment officer at Girard wealth management firm in King of Prussia. “Higher energy prices, more than trade, is where we’ll see the impact for the U.S.”
Geopolitical uncertainty has roiled the stock markets — measured by broad benchmarks like the S&P 500 index. The market has already been selling off for days ahead of Russia’s attack and bombing of Kyiv and other Ukrainian cities and has fallen more than 10% from highs in January, crossing into what’s known as a “correction.”
