LAS VEGAS (KTNV) — The national headlines on Monday morning sparked renewed concerns over a potential economic recession — leaving many people with questions about how that might impact them.
The Dow Jones Industrial Average had its worst day in nearly two years... but what does that mean for you?
Some people we spoke to on Monday were concerned about what the news would mean for their 401(k). I wanted to take all their questions to a financial analyst who could get them an answer.
Brad Zucker, a retirement financial consultant and president of SMA Wealth Management, agreed to answer those questions live on air.
Here's what locals wanted to know and Zucker's answers to their questions:
Mark Goldberg, who recently retired but spent most of his career with investment banking company Morgan Stanley, had this to say:
"I think the interest rates have to come down. Home mortgages, I think the prices have to come down. But how do you do that? How do you do that when you keep interest rates high — and the labor market, people are unemployed. People are worried. It's a very hard question to answer."
Hear Brad Zucker's answer to the question below:
Rosemary Kuropat, who's lived in Las Vegas for a year, wondered about this:
"I'd want to know, really, why the professional investors abandon ship at the first sign of trouble, but they advise retail customers like myself and my partner to 'hang in there,' because it seems like they may be exploiting us."
Hear Brad Zucker's answer to the question below:
