Financial expert discusses investments during uncertain economy – KIRO 7 News Seattle

CHARLOTTE — There are fears of a recession and uncertainty with investors over President Donald Trump’s tariffs and government cutbacks.

WSOC’s Evan Donovan spoke with an expert to see if that’s where we’re headed and what you can do now to protect your bottom line.

What to do depends on several factors, including your age and where you are in your career.

For most of us, financial experts say invest it and forget it.

However, if you’re at or near retirement, it’s a little more complicated.

“It’s difficult for people nowadays,” said Tina Kelly, who spent most of her career in Charlotte. “It’s very difficult.”

She is now retired.

“With the economy, it’s just crazy,” Kelly said. “You see everything is up, eggs, everything.”

The stock market posted an uneven performance on Wednesday. The Dow Jones Industrial Average closed down 80 points, or 0.2%, while the S&P 500 climbed 0.5%. The tech-heavy Nasdaq ticked increased 1.2%, according to ABC News.

Investor fears over tariffs and a possible recession which is driving uncertainty in the market.

“A mix of equities and fixed income, bonds, tends to mute that downside,” said Tracie McMillion, head of Global Asset Allocation Strategy at Wells Fargo Investment Institute. “But it also tends to mute the upside.”

McMillion said that when it comes to people’s investments, those far from retirement can be more aggressive in investing in more equities.

Retirees should have more money in corporate bonds and treasury bonds, bills, and notes.

Experts say to ask yourself, “When do you actually need the money?”

“Cash and bonds don’t tend to decline as much as equities do,” McMillion said. “So, if it’s something you need within the next three months, that might require a more significant adjustment.”

As for a recession, McMillion said the economic data isn’t showing that yet, and Wells Fargo is bullish on Q3 and Q4.

“While we might see a technical contraction in growth this quarter, we think that we’ll see growth resume in the 2nd half (of this year),” McMillion said.

Retirees, including Kelly, hope she’s right.

“It’s worrisome,” Kelly said. “It’s worrisome. You just have to stay prayed up and go with the flow.”

Financial experts say you should aim to save 10% to 15% of your pretax income for retirement.

Also, ensure that you take advantage of any benefit programs where your company matches the funds you invest.

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