CNBC: “‘With volatility typically comes opportunity.’ These are the smart moves advisors are telling clients to consider now”
CNBC, Feb. 23, 2022 — Marguerita Cheng, CFP® Pro, is featured in today’s article on CNBC by reporter Lorie Konish who explains: “Escalating tensions between Russia and Ukraine sent stock markets lower once again on Wednesday. Many individual investors are feeling the recent market declines triggered by geopolitical risks personally, particularly when it comes to their retirement account balances.”
She notes that financial advisors say this could actually be an opportunity to put any cash you have available to work toward your long-term goals rather than sitting on the sidelines.
Now is also a good time to get a jump on 2022 retirement contributions, including IRAs as well as 401(k) accounts, according to Marguerita, who believes the strategy works for investors who are just starting out.
“I had my 25-year-old daughter fully fund her Roth IRA account over the weekend,” she says. “The geopolitical turmoil served as a learning opportunity for her daughter, a gig economy worker who is experiencing the first downturn of her professional career.”
While her initial retirement investment soared around 38% two years ago, she was disappointed to see it in the red now.
“The best thing for you to do is not panic,” Marguerita said she told her daughter, noting that if someone is in a good position, now is a good time to invest.