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Financial advisors recommend conservative approach with new president in office

Posted: 6:20 PM, Jan 22, 2017
Updated: 2017-01-22 20:28:09-05

The stock market has had its ups and downs ever since Donald Trump was elected president of the United States.

Financial experts say that's something to get used to in the short term and that anytime there's a change in the administration people tend to react with their emotions. However, it's advised to avoid doing that.

Instead, you're encouraged to consider all of your options carefully and error on the side of being conservative.

Right now, local financial advisor Mark Roby says the economy is fairly strong with wages going up and unemployment rates on a downward spiral.

"Don't go out and make decisions based on your emotional reaction to the election, whether it's positive or negative," Roby says. "Do your homework and think what it is that you're trying to accomplish with your investments and make the appropriate investments."

Roby predicts it will take 18 months up to two years for Americans to feel any affects from the new president and his administration on the stock market.

In general, though, he says April and May are good months for the stock market.