‘Bad idea’: As markets tumble, Lincoln financial adviser says now is not the time to sell

LINCOLN, Neb. (KLKN) — Data from the Federal Reserve shows more Americans than ever are invested in the stock market.

With more than 60% of adults counting on the market’s good fortune for their financial future, recent downfalls after President Donald Trump’s tariff announcement have experts and average investors alike more than a little nervous.

Lincoln-based financial adviser Brett Shunkwiler said Trump’s so-called “Liberation Day” was “not so liberating” for everyone.

But he thinks a rebound will happen — it’s just a matter of how much the market drops before that happens.

“I believe that (Trump) thinks ‘short-term pain, long-term gain,'” Shunkwiler said. “So, I think in his mind he believes that, ‘OK, well this might hurt really bad right now, but I really think, just give me time. You’ll see.’ And hopefully down the road, the stock market will go back up.'”

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His advice on panic-selling?

“Bad idea,” Shunkwiler said.

He advocates for the “contrarian approach” and said the best time to buy is when people are most fearful.

“Everything is suppressed, right? You know, it’s kind of like a spring,” Shunkwiler said. “What goes down must come back up. Right now, unfortunately, it’s pretty compressed.”

Shunkwiler added that converting to a Roth IRA might be the right decision for some as well. It could be better to pay the tax penalty now, then just let your money grow.

For those facing retirement in the near future, Shunkwiler advised taking a closer look at your situation before making any decisions.

“The real question is: ‘Do I have enough money to give me the income I need every year the rest of my life as long as I live — regardless of what the stock market does?'”

If yes, then great. If not, wait and reevaluate, he said.