Especially as piggy
banks are attacked

Winchester — Bank failures, frozen credit lines, and wild swings in stock values have been pushing the limits of risk tolerance for even the most seasoned investors in recent weeks.

Local financial advisors say they have been spending a good deal of time lately, quelling the fears of clients who want to know what they should do about the sinking value of their investments.

While investors need to be cautious, Mike Cesnik, a financial advisor with Edward Jones in Kernstown, said they shouldn’t let the hysteria on Wall Street drive their decisions.

“Panic is not a good investment strategy,” he said.

For the most part, Cesnik and other financial advisors in the Valley are telling their clients to hold onto what they’ve got, sit tight, and weather what experts are now saying is a bear market.

“People during this time tend to look at their accounts frequently,” Cesnik said. And when they see the effect of Wall Street’s erratic ups and downs on their investments, it only fuels their fear and anxiety.

But what if you’re getting ready to retire?

While investors with youth on their side have time to wait out the market, those planning to retire soon are facing some tough choices.

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