OMAHA, Neb. (KMTV) — We know many of you have questions about retirement with the changes in the market, reporter Molly Hudson went to Retire SMART, after President Trump's tariffs announcement Wednesday afternoon, and spoke with CEO David Brooks.
BROADCAST TRANSCRIPT:
Molly: "If you could pick one question that people have been asking the most in this moment, what would that be?"
David: "A lot of times we are getting questions, is Trump going to crash the economy? And the simple answer is no, we have gone through many versions of legislative changes, policy changes, in various administrations and I think people need to tune out the white noise, so to speak. It does make headlines in the news when the markets get a little volatile, but it's a long game, and when you are investing, you are investing for the long horizon. The average retirement in America is 23.8 years, so you should build a portfolio that is going to last through that type of time period. You shouldn't make long-term decisions, based on short-term data."
Molly: "What do you say to people who are looking at the changes in the market and the volatility and are looking at, is there a way to make money on this volatility?"
David: "Yeah. We get clients in calling in, 'hey is it a good time to buy a certain stock. Should I buy Berkshire Hathaway, should I buy Tesla, its gotten beat up, etc.', and that is appropriate for some people, if they have the risk capital available, and the other thing is younger investors can take advantage of this, it is an opportunity, whenever you see that market decline, like we are over 10% down, we call that a correction. The magnificent 7, the mag 7 it's called, the big stocks that have led the way the last three years, they are in bear market territory, they are down collectively over 20%, we call that a bear market, but those are great companies, Apple, Amazon, Nvidia, Google, etc., these are companies that if you could buy them at 20% or 30% off and you know you want to hold them for 10 years or longer, that's probably a good thing to do."