{"id":31398,"date":"2018-11-15T13:00:59","date_gmt":"2018-11-15T18:00:59","guid":{"rendered":"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/?p=31398"},"modified":"2018-11-15T15:54:44","modified_gmt":"2018-11-15T20:54:44","slug":"advisers-say-investors-should-not-panic-even-when-stock-market-shows-signs-of-dropping","status":"publish","type":"post","link":"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/2018\/11\/advisers-say-investors-should-not-panic-even-when-stock-market-shows-signs-of-dropping\/","title":{"rendered":"Advisers Say Investors Should Not Panic Even When Stock Market Shows Signs Of Dropping"},"content":{"rendered":"
\"\"
Dan Hazewski Sr. of Legacy Planning Partners in Glens Falls.
Courtesy Legacy Planning Partners<\/figcaption><\/figure>\n

By Jill Nagy<\/p>\n

\u201cKeep calm. Stay the course,\u201d advised financial advisor Dan Hazewski Sr. of Legacy Planning Partners in Glens Falls regarding investment in the stock market as the end of 2018 draws near.<\/p>\n

\u201cThere is nothing abnormal going on,\u201d he said on a day when late October\u2019s falling stock market was recovering. \u201cVolatility is a constant.\u201d<\/p>\n

\u201cWhen the market was down, I went out and bought things for my clients. If you make good investment choices and you leave them alone, they\u2019re going to grow,\u201d he advised.<\/p>\n

He said the economy is fundamentally sound.<\/p>\n

\u201cI don\u2019t give credit to either Obama or Trump,\u201d Hazewski said, \u201cbut to American ingenuity and creativity. Developments like technology, artificial intelligence, and robotics are driving our economy.\u201d \u00a0<\/span><\/p>\n

He noted, however, that Obama did not get enough credit for \u201criding us through the storm\u201d after the 2008 recession.<\/p>\n

\u201cThe economy is as strong as it has ever been and the best thing to do at this point in time is nothing,\u201d Hazewski urged. Where he sees the normal gyrations of the investment market, \u201cpundits like to find reasons\u201d for concern.<\/p>\n

As for year-end planning, he said \u201charvest your losses\u201d and use them to reduce income tax liabilities.\u00a0<\/span><\/p>\n

He also urged people to fund their retirement accounts in 2018 and arrange for their mandatory withdrawals. It is also a good time to review and \u201crebalance\u201d an investment portfolio.<\/p>\n

\u201cIt will be an interesting tax year,\u201d Hazewski\u00a0 <\/span>said. \u201cNo one knows how it will all pan out.\u201d<\/p>\n

\u201cLeave it the heck alone,\u201d said Jeff Vahanian of Vahanian & Associates in Saratoga Springs.\u00a0<\/span><\/p>\n

The worst thing an investor can do is to sell when the market drops and then miss the upswing that is likely to follow, he said.\u00a0<\/span><\/p>\n

Tim Pehl of Luther Forest Wealth Advisors agreed. \u201cWe try to keep our clients on the straight and narrow,\u201d Pehl said. His advice to nervous clients: \u201cStick to your plan.\u201d<\/p>\n

There is not much new in the way of new laws and regulations this year. However, Pehl did highlight a possible source of tax savings that, after being temporary, is now permanent: the ability to make charitable contributions from an IRA account, thereby avoiding taxation of the funds.\u00a0<\/span><\/p>\n

Where it really comes into play, he said, is with taxpayers unable to itemize deductions under the new tax law. \u201cThis is one of the biggest pieces of advice that we are giving out this year,\u201d\u00a0 <\/span>he said.<\/p>\n

Hazewski also thought that was a good idea. An IRA or other tax-deferred savings plan is an \u201cincome tax trap,\u201d he said, with the taxes avoided earlier coming due when the funds are withdrawn. \u201cIf you don\u2019t need the money and you\u2019re charitably inclined, it\u2019s a wonderful thing to do.\u201d<\/p>\n

Pehl was skeptical about some New York state innovations intended to ease the effect of new ceilings on the deduction of local taxes. New York state allows employees to reduce their payroll and withholding and receive a tax credit in exchange. There is also the scheme to allow taxpayers to make charitable contributions to local taxing authorities instead of paying taxes. In both cases, the IRS opposes the scheme. \u201cI\u2019m not sure exactly where it stands,\u201d he said of the payroll-reduction\u00a0 <\/span>scheme. \u201cYou don\u2019t want to be a guinea pig on this. Wait until the dust settles.\u201d<\/p>\n

While urging steadiness, Vahanian acknowledged that it is a \u201cgreat challenge\u201d for him to get clients to focus on the long term during this time of political divisiveness, social unrest, and global trade tensions. \u201cIn the short term, the market is a voting machine,\u201d he said, \u201cIn the long term, the stock market is a weighing machine, weighing the value of a company.\u201d<\/p>\n

Hazewski, who has a small family-run business with long-term clients, finds that his clients have learned to be, like him, fairly unflappable. \u201cMy clients have been with me a long time,\u201d he observed, \u201cso there was little reaction to the market correction.\u201d They seemed to realize that there was noting abnormal going on, he felt.<\/p>\n

As a corollary to advice to try to ride out the ups and downs of the market, Vahanian advised people not to put money into the stock market that they will need in the short term, but to match investments to when money will be needed.\u00a0 <\/span><\/p>\n

While the timeworn advice to diversify and not put all of one\u2019s money into stocks is still good, both Pehl and Vahanian\u00a0 <\/span>acknowledged that alternatives that yield good income are limited. Pehl thought that short-term bonds could make sense as interest rates increase. Vahanian pointed to real estate as another investment vehicle that can protect buying power.<\/p>\n

Most portfolios recovered from the 2008-09 recession, Pehl pointed out, and he expects them to recover from the recent downfall as well. So, to repeat, investors should just hold on.<\/p>\n","protected":false},"excerpt":{"rendered":"

By Jill Nagy \u201cKeep calm. Stay the course,\u201d advised financial advisor Dan Hazewski Sr. of Legacy Planning Partners in Glens Falls regarding investment in the stock market as the end of 2018 draws near. \u201cThere is nothing abnormal going on,\u201d he said on a day when late October\u2019s falling stock market was recovering. \u201cVolatility is […]<\/p>\n","protected":false},"author":89,"featured_media":31399,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[52],"tags":[],"yoast_head":"\r\nAdvisers Say Investors Should Not Panic Even When Stock Market Shows Signs Of Dropping - Glens Falls Business Journal<\/title>\r\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\r\n<link rel=\"canonical\" href=\"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/2018\/11\/advisers-say-investors-should-not-panic-even-when-stock-market-shows-signs-of-dropping\/\" \/>\r\n<meta property=\"og:locale\" content=\"en_US\" \/>\r\n<meta property=\"og:type\" content=\"article\" \/>\r\n<meta property=\"og:title\" content=\"Advisers Say Investors Should Not Panic Even When Stock Market Shows Signs Of Dropping - Glens Falls Business Journal\" \/>\r\n<meta property=\"og:description\" content=\"By Jill Nagy \u201cKeep calm. Stay the course,\u201d advised financial advisor Dan Hazewski Sr. of Legacy Planning Partners in Glens Falls regarding investment in the stock market as the end of 2018 draws near. \u201cThere is nothing abnormal going on,\u201d he said on a day when late October\u2019s falling stock market was recovering. \u201cVolatility is […]\" \/>\r\n<meta property=\"og:url\" content=\"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/2018\/11\/advisers-say-investors-should-not-panic-even-when-stock-market-shows-signs-of-dropping\/\" \/>\r\n<meta property=\"og:site_name\" content=\"Glens Falls Business Journal\" \/>\r\n<meta property=\"article:published_time\" content=\"2018-11-15T18:00:59+00:00\" \/>\r\n<meta property=\"article:modified_time\" content=\"2018-11-15T20:54:44+00:00\" \/>\r\n<meta property=\"og:image\" content=\"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/wp-content\/uploads\/sites\/109\/2018\/11\/investing-tips-hazewski-c.jpg\" \/>\r\n\t<meta property=\"og:image:width\" content=\"433\" \/>\r\n\t<meta property=\"og:image:height\" content=\"666\" \/>\r\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\r\n<meta name=\"author\" content=\"Jake Van Ness\" \/>\r\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\r\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Jake Van Ness\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\r\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/2018\/11\/advisers-say-investors-should-not-panic-even-when-stock-market-shows-signs-of-dropping\/\",\"url\":\"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/2018\/11\/advisers-say-investors-should-not-panic-even-when-stock-market-shows-signs-of-dropping\/\",\"name\":\"Advisers Say Investors Should Not Panic Even When Stock Market Shows Signs Of Dropping - 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