Douglas Greenberg Discusses Strategies for Wealth Management in an Uncertain Economy

Douglas Greenberg

November 9, 2020

Douglas Greenberg uses his expertise as an advisor to help business owners meet their financial goals. His company provides small business owners with the information they need to make the best decisions for their company. Before beginning his own company, he worked as Executive Director for Morgan Stanley for over two decades. Today, Douglas Greenberg will pass on some of the knowledge he has gained by providing strategies for wealth management in today’s uncertain economy.

Invest Regardless of the Current Economy

Investing seems like a great idea when the economy is strong. When there’s a downturn or lots of uncertainty, it’s tempting to hedge your bets. Douglas Greenberg explains that investing in any market is risky. However, a down market also provides an opportunity for profit. A steady plan of investing is often more beneficial than only investing when the market is going up. Uncertainty often brings a down turn, but it can move back up quickly as confidence increases.

Diversify

Douglas Greenberg says that it’s important to diversify your portfolio, especially in uncertain times. This can maximize your risk to reward ratio. You’ll need to determine how much risk you are comfortable with, and then translate that into your investments. You should have a balance of stocks and mutual funds and liquid money market assets.

Stay Objective

Douglas Greenberg notes that it’s difficult but necessary to remain objective when deciding what to invest. You may be tempted to sell when a stock drops, or invest in stocks that are performing well because it feels right. The stock market is controlled by speculation. It is full of ups and downs. This can easily lead to an emotional roller coaster that can cause you to make impulsive decisions. Douglas Greenberg suggests having a professional help guide your investments can help you to remain objective.

See the Big Picture

It’s essential to keep an eye on the big picture, especially in a volatile economy. Douglas Greenberg says you should avoid making decisions based on one event or circumstance, no matter how influential it seems. Market changes are very rarely the result of a single event. You may see a quick jump or drop, but it typically evens out as the big picture comes back into focus.

Create an Investment Strategy With Expert Help

Douglas Greenberg explains that a sound wealth management strategy involves creating a plan and sticking with it. The plan should be adjusted according to your financial situation and market performance, but these decisions should be made objectively. There are many aspects to consider when you are developing a wealth management plan. A professional can provide an objective eye and the experience needed to offer sound financial advice. Speak with your financial advisor about when you should adjust your investment strategy, and avoid making hasty decisions on your own.