Personal Finances: Staying the Course

By Lou Sorendo “I had quite a few people that just basically said, ‘no, let’s sit tight. I like my allocation and I’ll just ride this out’.” Zeigler Things may get ugly. That’s the sentiment of Randy L. Zeigler, a private wealth adviser with Ameriprise Financial Services in Oswego, who spoke recently about how investors are reacting to the COVID-19 pandemic. He said everybody is probably reacting to some degree emotionally. “In the span of four to five weeks, we went from an economic circumstance where we were in the middle of an 11-year record growth cycle in the U.S. and hitting an all-time high on the stock market Feb. 19, to being in the depths of what we expect to be a pretty ugly recession,” Zeigler said. “If there is a time to use the word ‘unprecedented’, this is it,” he said. “We’ve never been on this road before.” He said the economy has plummeted not because of structural problems within the economy itself. It has plunged because of the government’s response to fighting the virus itself and trying to mitigate deaths. Personally, Zeigler said his “head was spinning” for the first two weeks of the crisis when there

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