Mums and dads warned: Keep calm!
While millions of parent investors may be chewing their nails to the quick as the economy nosedives, a host of experts have urged them to keep calm while the storm rages.
Speaking during an Advertiser roundtable discussion, experts agreed that pulling out of stocks and putting cash into high-interest savings accounts could prove disastrous in the long term.
The paper explained that while Wall Street and the City have rebounded in recent weeks, Australia’s stock market remains held down at record lows.
Bourke Shaw Financial Services adviser Lawrence Orlando conceded that while this will surely be a cause of stress and worry for many small investors, it is important to take the long view.
“I think investors should push their emotions to one side and think rationally on current market conditions and just remain focused on the reasons why they invested in the first place,” he said.
Stocks and shares stress may have been compounded by a recent report from the Daily Telegraph showing that 2008 outstripped the Great Depression and has become the worst investment year on record.