NH financial advisor weighs in as S&P 500 enters bear market

The stock market is now in bear market territory, meaning it’s 20% down from its recent highs and many are concerned about inflation. Financial experts said employers are paying higher wages, then charging more for goods to compensate. News 9 spoke with people who said they’re paying more for everything from gas to food. “You have to pick and choose, like you know what you can and can’t get and it’s been a huge, big barrier for families,” said one New Hampshire resident.Another Granite Stater said they were working more, budgeting more and started couponing for the first time. Still, experts like Scott Schermerhorn, managing director at Mariner Wealth Advisors, say don’t panic. “We still continue to see corporate profits doing well, the job market is still great, so I think by getting towards to the end of the year, you’re going to see this all turnaround,” Schermerhorn said.Schermerhorn said to focus on long-term goals.“Don’t be getting spooked by short-term volatility, for most people, unless they have to access their money right now, it really doesn’t matter,” Schermerhorn said.He said the stock market is up 80% of the time and down the remaining 20%.“So, if you have a negative view and you want to go all cash, there is an 80% chance you’re going to be wrong,” Schermerhorn said.According to Schermerhorn, jobs are robust and corporate profits are strong.“And so you’d really need almost another big shock to the economy for me to see this going into a recession,” Schermerhorn said. Schermerhorn said supply chain issues could be worsening inflation, but when they subside, there could be some improvement.

The stock market is now in bear market territory, meaning it’s 20% down from its recent highs and many are concerned about inflation.

Financial experts said employers are paying higher wages, then charging more for goods to compensate.

News 9 spoke with people who said they’re paying more for everything from gas to food.

“You have to pick and choose, like you know what you can and can’t get and it’s been a huge, big barrier for families,” said one New Hampshire resident.

Another Granite Stater said they were working more, budgeting more and started couponing for the first time.

Still, experts like Scott Schermerhorn, managing director at Mariner Wealth Advisors, say don’t panic.

“We still continue to see corporate profits doing well, the job market is still great, so I think by getting towards to the end of the year, you’re going to see this all turnaround,” Schermerhorn said.

Schermerhorn said to focus on long-term goals.

“Don’t be getting spooked by short-term volatility, for most people, unless they have to access their money right now, it really doesn’t matter,” Schermerhorn said.

He said the stock market is up 80% of the time and down the remaining 20%.

“So, if you have a negative view and you want to go all cash, there is an 80% chance you’re going to be wrong,” Schermerhorn said.

According to Schermerhorn, jobs are robust and corporate profits are strong.

“And so you’d really need almost another big shock to the economy for me to see this going into a recession,” Schermerhorn said.

Schermerhorn said supply chain issues could be worsening inflation, but when they subside, there could be some improvement.

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