Surviving the Volatile Market (Betty Sexton)

Where is the best place to park your money and see it grow? That's the question a lot of callers asked financial planners and investors with UBS Financial Services. They were nice enough to lend their expertise to our Call for Action's Ask an Expert week.

 

 

 

As I mentioned in my earlier blog, I learned a lot from our team of experts. They say when deciding the best place to put your investment dollars consider these factors: your age, your needs, and how you eventually want to use that pool of money.

Here are a few high points. Gold set a record Tuesday at $1,400 an ounce! Is this a good choice? Financial planners say ... not always.

Don't listen to those television ads making it sound like you're really missing out if you don't have some gold ingots or coins. Brad Harvey, a UBS certified financial planner says when you buy or sell gold, you have to pay commission fees. These charges are part of every transaction. And he says going back to1980, gold has barely kept pace with inflation.

Yes, the price of gold is high, and the value of the dollar may be dropping, but Brad says that may be because a lot of folks are panicking and looking for a safe haven. He says gold may look like a good bet, but history doesn't show it is.

Brad says the best advice... don't let emotions play into your long-term financial planning decisions. If you let today's headlines factor into your choices, you may be headed down the wrong road.

And, don't be afraid to get advice from a certified financial planner. They're educated, experienced professionals who study the markets everyday so you don't have to.

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