Tennessee Valley reacts to potential bear stock market
CHATTANOOGA, Tennessee (WDEF)-Randy Pickett has been expecting a market pullback.
“Actually, I’ve been planning on this. I knew it was going to happen. Because, when I watched it in 08, it taught me that hey it’s going to happen again,” said Pickett.
Joel Susman is living off his retirement savings now and, although he prepared for this, it’s still a little nerve-racking.
“Being retired and living off Social Security it’s been rather frightening to see what’s happening to my retirement fund for the last few months,” said Susman.
Both trust in long-term investing and know that the market isn’t something they can control.
“Don’t get upset. It’s beyond my control. I’m invested, I hope reasonably conservatively,” said Susman.
“I’ve lost money but I’ve made more than I’ve lost over time. So, I’m not concerned about it. If anything, I’m gonna put more into it,” said Pickett.
They say, having seen market swings before, allows for confidence that the market will rebound.
“In the long run, it’ll pan out,” said Pickett.
“The advice of money managers. I’m not an expert in financial markets but I have some pretty good money managers that are helping,” said Susman.