Is it necessary to hire a financial advisor during a bear market?

Choosing an Advisor
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6 days ago
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I think that it is always a great time to hire a financial advisor when you are making important decisions as I laid out in my article on Planning Through Life's Stages to Avoid Money Worries.  But it is even MORE important (if not necessary) to do it during, or hopefully before, a bear market.  It is during a bear market that most people throw their investment "discipline" and financial plan out the window due to the market fear and "go to cash".  That it is why it is so beneficial to have a financial advisor and financial plan to help assure that you stick to the discipline when your "gut" tells you to change...typically as the WORST Time.  I have a few articles on CNBC that discuss both:

  1. Afraid of retiring into a bear market? Tips to hedge bets
  2. Are you prepared if the market tanks in Q4?

It is also important to have a good conversation with and interview a fianncial advisor to make sure that they have good experience, have clients that have worked with them through a "bear market" (they have experence in bear markets) and that they don't fall into the fimilar traps and mistakes that many financial planners do wrong.

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