Stay calm and think of the long run, financial advisers say as stocks sink

Despite the massive sell-off in the stock market recently, financial advisors urge investors to think of their long-term prospects. Despite the massive sell-off in the stock market recently, financial advisors urge investors to think of their long-term prospects. Photo: Richard Drew, STF / Associated Press Photo: Richard Drew, STF / Associated Press Image 1 of / 1 Caption Close Stay calm and think of the long run, financial advisers say as stocks sink 1 / 1 Back to Gallery

Stay calm and think of the long run, financial advisers say, as stock markets plunged Monday morning. While the drop may affect short-term investors, history has shown that stock markets recover in the long run.

"Many would view this as a long-term buying opportunity," said Matt Goff, founder of the investment management firm Goff Financial Group. He pegged the swings in the market to fears of the new coronavirus, as well as the uncertainty surrounding the upcoming election. Both will eventually play out.

"Epidemics have a beginning and an end to them — the question is how long," he said.

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David Harris, senior managing director with the financial services company U.S. Capital Advisors, agreed. "It's very likely that in a few years from now, no one will be talking or thinking about the coronavirus."

Financial advisers working with long-term investors said their clients understood that the market would eventually recover.

"This isn't their first rodeo," Harris said. "This is something that my clients and investors in general should take in stride. Sell-offs tend to be opportunities. ... If you buy the right companies at the right price, in the long term, you should do very well."