By Meg Gatto, ABC26 News

Financial Planner Says Stay Calm As Stock Market Plummets

Metairie – The stock market plummeted Thursday, leaving many investors worried and wondering what to do with their money.

It was not a pretty picture on Wall Street… – the Dow, Nasdaq and S& P 500 all fell dramatically. Financial planner Brad Fortier says this can be attributed to fear’s over the European debt crisis.

“It’s causing some issues right now between two ideological segments of society and its playing out in our markets everyday,” Fortier says.

Retirees are sure to take a hit over the fluctuation in the market, but now is the time for young investors to take advantage of the prices…but make sure you spread your money out.

Fortier adds, “It’s the old adage, don’t put all your eggs in one basket, it’s always a good idea just to try and stay diversified. The way you deal with volativity is you own everything to a certain extent.”

And there are lots of places to turn for guidance with the market….if you don’t have access to a financial planner, Fortier recommends two websites that can give you some great advice….morning star.com and nick murray.com…Murray is an expert in the financial field.

Finally, if you do have a lot of money invested, try to stay calm on days when you may take a hit…and don’t do anything rash.

“The mistake most people make is they try to move from one investment to another and they try to pick which one is going to be the best one…you’re better off staying invested staying diversified and not trying to predict the future,” Fortier says.