What Brexit means for your money

(WTNH)–With Britain soon to leave the European Union, the immediate concern for many Americans is how it affects their stock portfolio, 401(k), or other investments.

“By definition, investing is about risks that we don’t quite understand,” said Charles Kreitler, president of Kreitler Financial in New Haven. “So therefore we have to build a portfolio and structure our personal finances in a way that deals with those surprises.”

Kreitler manages $300 million in client assets all from his downtown New Haven office. He suggests this is a time to not to panic, since the ups and downs of any market are inevitable. To protect yourself from market shifts, it’s important to keep a diversified investment portfolio.

“I want to own different types of investments that are going to react in different markets, up or down, in different ways,” Kreitler said.

It’s also important to structure your cash to keep enough readily available in the form of a money market or U.S. Government Bonds.

“So that if I do have my portfolio go down, it’s not going to force me to sell at a time I shouldn’t. Or go into assets I should be leaving alone.”

A down market can also be an opportunity to buy stocks at low prices. History has shown that except for the great depression, the market will pick back up.

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