(The Canadian Press)

By Alison Sandstrom

Financial fears

Don’t panic: local financial advisors offer advice as markets tumble

Mar 9, 2020 | 3:05 PM

Amidst plummeting oil prices and growing fears of coronavirus, two Prince Albert financial planners say investors have no need to panic, despite plunging stock prices.

“Eventually this is all going to blow over and it’s going to get better, but you just have to ride that wave,” Rupert Bremner, a consultant with I.G. Wealth Management told paNOW.

Bremner said he’s telling his clients to stick with their financial plans and to not make changes to their investments out of fear.

“2008 was a way worse year than what we’re seeing right now,” he explained. “People who stayed the course were rewarded for that and you have to do the same in this case too.”

Adriann Locke, a financial advisor at Thierman Financial, agreed with Bremner that investors should focus on their longterm goals and not immediate hardship.

Honouring a neighbour

'He's smiling down at us': Wes Petterson Memorial Park opens in Weldon with special ceremony

21h ago

Community events

Sunday's annual Walk for Veterans in P.A. to be only one in Saskatchewan

Sep 21, 2024

BDO Debt Solutions

The Financial Impact of Assisting Adult Children

Sep 21, 2024

“You need to remind people to look in the longterm, the stock market will go up, it always has over time, history has shown us that,” she said, adding the downturn actually presents a great opportunity to buy stocks.

“Basically right now the stocks are on sale, this would be a great time to put money in the stock market,” Locke said.

–

alison.sandstrom@jpbg.ca

On Twitter: @alisandstrom