Every day, there are new signs of turmoil. From violence in Gaza to war protests at home, to sabre rattling in the Pentagon, there is uncertainty. A point not lost on investors, as the Dow Jones continues to shrink. But, local financial advisor Jose Feliciano says he's not worried.
"We can't be in a reactive situation. We have to be in a proactive situation in what's important to ourselves and our families."
Feliciano looks to history. The stock market dips almost every time there is a major world crisis. From the fall of France during World War II, to Nixon's resignation, to the last war with Iraq, there was always a dip.
"We've been in wars. We've had major events. Of course, 9/11 is a major event. This has happened and we've always rebounded and the stock has continued to go up."
But, Feliciano says there are specific steps you can take to ride out the dips and drops due to world events. "Number one, you want to get out of debt. Number two, you want to build an emergency fund that has at least six months of your cash flow, your monthly expenses. Number three just make sure that your whole portfolio is well diversified. "
"It's like the weather. You've got your storms that come by, but there's always sunny days ahead."
Jose Feliciano says in order to build up that six month emergency fund, you have to remember to pay yourself. He reccomends while paying your monthly bills, keep a regular portion of your take home pay for yourself.
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