Just about everyday now we hear a bit more bad news on the financial front, with an article just yesterday talking about investors fleeing the market.
That's why I found it refreshing to read a recent New York Times op-ed piece written by the world's richest man, Warren Buffet.
In a column titled, "Buy American. I Am." Buffet says now is the time to get in the game. "Why? A simple rule dictates my buying: Be fearful when others are greedy, and be greedy when others are fearful. And most certainly, fear is now widespread, gripping even seasoned investors."
Buffet goes on to write: "To be sure, investors are right to be wary of highly leveraged entities or businesses in weak competitive positions. But fears regarding the long-term prosperity of the nation's many sound companies make no sense."
This is great advice for those of us looking for a good deal and with five-to-ten years to wait out the storm. But what about the seniors -- those who their need money now or in the very near future? As much as I respect Buffet's investment acumen, I'm not sure his current philosophy addresses the needs of retirees.
That's where you come in. Advisors will play the key role in keeping clients' fears in check during these turbulent times.
Now, more than ever, your clients will look to you to be that calm, confident voice amid the storm, guiding them to a safe financial landing.
