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The headlines. for the average person, i would try to take a vacation from the market for about two to three weeks. don t do anything rash or silly by selling when it appears news is bad. riley thinks the good news is we re in a multi year bull market for stocks. thinks profits will be excellent for american companies next year. migel? thanks, christina. if you weren t sure gridlock is trickling to main street, the first piece of evidence in a new survey. consumer sent meant at the lowest level in nine months. people are worried about the economy taking a hit. want to bring in a few people. scott liars, joins us from new york. karen lee, certified financial planner here with us in atlanta. so let s start with what we know. consumer confidence is slipping, scott. what s the immediate consequence of lower consumer confidence? well, consumer confidence is tied directly to the stock ....
Slow down. big yields, lots of innovation, and government will spend on medicine and medicines, no matter what. karen, one thing you say is to have three to six months cash reserve in case of emergency. most don t have that, are able to have that. is the message to stay calm, keep things where they are now and wade through this? absolutely. if you can t get that three to six months, make sure you have credit available that you haven t used, whether it is a home equity loan, your credit card. i hate to say that, but you re right, some people can t get it together. i agree 100% with scott, stay calm. don t panic. this, too, shall pass. we have been here before and we ll have more of this in our future. all right, karen lee, scott bleier, thank you for joining us. good luck to everyone in the market. we have response from the white house on the failed senate vote. we have that coming up, we go live to the white house and have a report on that after the ....
Do what s best for you, don t let your emotions run away with you. you re an optimist, my friend. karen, my heart is pal pi at a timing. should i take the money from the 401(k) and put it under the mattress. go back to investment basics. we all should have three to six months minimum cash set aside to pay bills, including government nonessential workers. you have to have that to rely on. two, you shouldn t have money in the market you need in the next three to five years. migel, i would ask you, are you planning to use your 401(k) sooner than five years? my guess is the answer is no. i hope not. exactly. i agree with scott. we have to stay consistent with our investment strategies, do not panic. stay calm. if you re the little guy investing in 401(k) and the market turns south, you invest into the downward spiral and get the best upward potential when it turns around. thank you very much. in a minute, we will put these ....
Break. icans take care of busine. they always have. they always will. that s why you take charge of your future. your retirement. ameriprise advisors can help you like they ve helped millions of others. listening, planning, working one on one. all right, karen lee, scott break. to help you retire your way. with confidence. that s what ameriprise financial does. that s what they can do with you. ameriprise financial. more within reach. bleier, thank you for joining new brakes help you stop faster and safer. ....
To washington? they need to work for us and listen to us and work together, both parties have to work together and quit blaming each other. feel what the people feel, you know, put yourself in our shoes. unhappy voters. before the break, we were talking about how gridlock in washington is starting to trickle down to main street. we re now starting to see consumer confidence slipping. joining me again, investment strategist scott blier and certified financial planner karen lee. talk about what people should do to get ready for a jolt to the economy. what do you think that should be, scott? well, the first thing you should do is as karen said, always have some cash. now, not everybody can give themselves a cushion of cash. what happens, if you re not tied to the gdp, sit back, watch, ....