Weekly Economic Update 8-20-19

Last Wednesday, August 14th, there was an unexpected stock market downturn. It was the worst week on Wall Street in 2019, and naturally, panic set in for many people. Many people were worried about their 401(k)’s and other financial accounts that are exposed to the market. My partner Eric Hogarth, CFP® addressed these matters on WFSB’s Face The State on Sunday morning.

  • The Dow plummeted 800 points, which has triggered fear in many investors
  • On Thursday the market was on its way back up due to positive consumer spending
  • CT tax implications of the downturn

To help alleviate fear and anxiety now is the time to make sure you have the right financial and retirement plan. If you do have the right plan, now is the time to stick with it. If you’re like many other people who are unsure of what to do next, we would be happy to meet with you and assess your plan.

Joel Johnson, CFP ®

CEO and Managing Partner, Johnson Brunetti