KAYLYN NORWOOD 米兰体育 13. OF COURSE, THOSE TARIFFS COULD HAVE AN EFFECT ON YOU TODAY. 米兰体育 13 S ZOE BLAIR SAT DOWN WITH A FINANCIAL PLANNER TO GET THE FACTS ON HOW YOU CAN NAVIGATE THE FALLOUT. ZOE, WHAT IS THE BIGGEST ADVICE FOR CONSUMERS RIGHT NOW? HE SAYS DON鈥橳 PANIC. THAT ADVICE COMES FROM SCOTT COLE, A LOCAL FINANCIAL PLANNER. HE SAYS HE鈥橲 NEVER EXPERIENCED A TRADE WAR BEFORE, BUT HE BELIEVES IT鈥橲 STILL IMPORTANT FOR CONSUMERS TO STAY CALM WHEN INVESTING OR MAKING LARGE PURCHASES. AND THAT鈥橲 WHAT HE BELIEVES. THIS IS A TRADE WAR. COLE SAYS THESE TARIFFS COULD BE HAPPENING FOR ONE OF TWO REASONS. FIRST, HE SAYS THEY COULD BE A BARGAINING TOOL TO TRY AND GET SOMETHING FROM THOSE OTHER COUNTRIES, JUST LIKE WHAT HAPPENED WITH CANADA AND MEXICO EARLIER THIS YEAR. IF THAT鈥橲 NOT THE CASE, COLE SAYS THIS COULD JUST BE PRESIDENT TRUMP鈥橲 ECONOMIC PHILOSOPHY. EITHER WAY, HE SAYS, DON鈥橳 PANIC. IF YOU ARE INVESTED IN THE STOCK MARKET, HE SAYS, NOW IS NOT THE TIME TO SELL. AND SELLING YOUR STOCKS MAY ACTUALLY MAKE THE SITUATION WORSE. THE TIME TESTED WAY TO BE SUCCESSFUL IN THE MARKET IS TO STAY IN THE MARKET AND AND STAY IN THE MARKET FOR A LONG PERIOD OF TIME. DON鈥橳 TRY TO TIME IT. NEVER INVEST. OFF AN EMOTION. NEVER INVEST OUT OF ANXIETY. NEVER MAKE A TRADE OUT OF FEAR. JUST GO DO THE THINGS THAT YOU CAN DO. CONTROL WHAT YOU CAN CONTROL AND IT WILL BE OKAY. COLE ALSO SAYS YOU SHOULD NOT PANIC BUY AS A RESULT OF THESE TARIFFS. HE SAYS YOU SHOULD NOT MAKE ANY BIG PURCHASE PURCHASES JUST BECAUSE THERE鈥橲 A THREAT OF A PRICE INCREASE, ESPECIALLY BECAUSE THE TARIFFS ARE ALREADY IN PLACE. YOU DON鈥橳 NEED TO GO OUT AND BUY A CAR BECAUSE OF TARIFFS. YOU BUY A CAR BECAUSE YOU NEED A CAR. YOU WILL PAY MORE FOR A CAR IF YOU HAVE TO BUY ONE RIGHT NOW. AND THAT鈥橲 UNFORTUNATE, BUT THAT鈥橲 JUST THE NATURE OF THINGS. BUT DON鈥橳 GO OUT AND DO SOMETHING THAT YOU WOULD WOULDN鈥橳 NORMALLY DO. COLE COMPARED THE IMPACTS OF THESE TARIFFS TO THE COVID 19 PANDEMIC, SAYING THEY WERE UNEXPECTED AND ARE CAUSING A DROP IN THE STOCK MARKET. BUT JUST LIKE THE PANDEMIC, COLE EXPECTS T
'Stay in the market': Local financial planner has tips for dealing with tariffs
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Updated: 9:38 PM CDT Apr 3, 2025
Scott Cole, a financial planner in the Birmingham area said despite recent drops in the stock market, now is not the time to panic.Cole said that you should not see the drop in the markets and sell your stocks. He also said doing so could make the situation worse."The time-tested way to be successful in the market is to stay in the market, and stay in the market for a long period of time; don't try to time it," Cole said. "Never invest off an emotion, never invest out of anxiety, never make a trade out of fear, just go do the things that you can do. Control what you can control, and it will be OK." He also said not to act out of fear when it comes to big purchases, like buying a car."You don't need to go out and buy a car because of tariffs," Cole said. "You buy a car because you need a car, you will pay more for a car if you have to buy one right now. And that's unfortunate, but that's just the nature of things. But don't go out and do something that you wouldn't normally do."
BIRMINGHAM, Ala. — Scott Cole, a financial planner in the Birmingham area said despite recent drops in the stock market, now is not the time to panic.
Cole said that you should not see the drop in the markets and sell your stocks. He also said doing so could make the situation worse.
"The time-tested way to be successful in the market is to stay in the market, and stay in the market for a long period of time; don't try to time it," Cole said. "Never invest off an emotion, never invest out of anxiety, never make a trade out of fear, just go do the things that you can do. Control what you can control, and it will be OK."
He also said not to act out of fear when it comes to big purchases, like buying a car.
"You don't need to go out and buy a car because of tariffs," Cole said. "You buy a car because you need a car, you will pay more for a car if you have to buy one right now. And that's unfortunate, but that's just the nature of things. But don't go out and do something that you wouldn't normally do."
