JACKSON, Miss. (WLBT) – A topsy-turvy week for the stock market has many of you asking questions.

“Have a plan,” said Ryder Taff. “Follow the plan.”

That’s the name of the game for investments according to New Perspectives financial advisor Ryder Taff. And that includes a week like we’ve just had.

“The markets have been volatile,” noted Taff. “Might have gotten a little bit of whiplash watching it go down, down, down, and then up, up, up all at once. But for people who are investing, you should always invest with a plan, and your plan should involve the fact that these things can happen in the market.”

And it’s a reminder to have more investments than just stocks. Taff points out the S&P, large U.S. companies that have performed well in the last decade. However, he makes this point.

“It can get really hard when you see it going up so much to say,” he noted. “Why do I have international stocks? Why do I have bonds in my portfolio? But a year like this year…international stocks have held up a lot better than the S&P 500, a lot better than U.S. companies have. And bonds have provided important stability in portfolios. It’s really showing people the importance of a diversified portfolio.”

And various factors will impact what your plan should be.

“Every investor is going to approach the market differently depending on their needs,” he adds. “To a lesser extent their personal risk tolerance. Just what can they stomach? And maybe their age is stereotypically their age. But mostly I think about risk tolerance in what dollars do you need from your portfolio and when do you need them?”

That’s why he says young investors can likely afford to take advantage of sharp volatility to build their portfolios. Because that will grow in the long term.

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