Local expert weighs in on stock market fall - WGEM.com: Quincy News, Weather, Sports, and Radio

Local expert weighs in on stock market fall

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QUINCY, Ill. (WGEM) -

The stock market fell more than 1,500 points Monday. It is the worst drop within a day in market history according to CNBC.

"In my career in this business, I found out people love volatility only on the upside not the volatility on the downside," Senior Wealth Advisor Mark Schlipman said.

He added it is important to remember why you are in the market and what you own in current market conditions, because the market is unpredictable.

"There are ways to protect the downside but you gotta make sure you have that game plan with your financial advisor or the investment firm that your working with because if you don't have a game plan your just running off emotions and fear,"  Schlipman said.

Missouri resident Linda Bradshaw began focusing on her retirement 15 years ago, but is not worried about the recent market fall.

"People get nervous and they take their money out or stop deferring and I think that's a problem," Bradshaw said "I think they need to stay in it, put as much as you can and you wont notice it before the taxes are taken out."

Schlipman recommends investing in your goals and to not throw money into market on impulse.

"Make sure whatever happens in the market is not gonna effect your income in your retirement because that can really throw off a long time game plan on a short cited view."

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