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Money Experts Answer Viewer Questions

Experts Advise Riding Out Market Turmoil

POSTED: 12:47 pm CDT October 1, 2008
UPDATED: 1:44 pm CDT October 1, 2008

Financial experts helped answer viewer questions for hours during FirstNews on Wednesday morning.

"Financial help, this is Lori," said Lori Wilkerson of National Bank of Kansas City.

KMBC's Donna Pitman reported that the experts were trying to untangle the web of fear, frustration and confusion on proverbial "Main Street."

"I thought it'd be every 15 minutes, but it's constant. People calling in the whole time," said Todd Geiman of National Bank of Kansas City.

Pitman reported that after more than four hours of answering the phones, financial experts heard repeated concerns over personal debt, mortgage, Social Security, and personal investments.

"There's just a lot of uncertainty out there, a lot of different advice, a lot of fear is what I hear in people's voices," Geiman said.

The overall advice from the experts was to ride it out if you can.

"If you're not needing that money, remember, the stock market historically comes back up. If you can ride it out, just wait until the money comes back," Wilkerson said.

For more advice and ways to help map out your financial future, visit our Economic Guide.

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