CNBC Acorns: “This ‘tried and true’ strategy helps protect your long-term money goals, especially when markets are volatile, CFP says”

Sofia Pitt explains, “Stocks rallied Monday afternoon following seven straight weeks of losses for all three of the major stock averages. Last week, the S&P 500 briefly dipped into bear market territory, which is when an index closes at least 20% off from a recent all-time high. As of Friday’s close, the S&P 500 was nearly 19% down from its January 5 record.”

Sofia turned to Marguerita Cheng, CFP® Pro for insights.

“If you’re one of the many investors who have watched their portfolio take a hit during this volatility, it is okay to be nervous, but do not panic and react,” says Marguerita, CEO of Blue Ocean Global Wealth in Gaithersburg, Maryland.

When Cheng talks to worried clients, “I make sure clients know the reason why each asset is in their portfolio,” she says. That’s because having a diversified portfolio is a “tried and true” strategy, especially when the markets are volatile, she says.

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