EVANSVILLE — The current debate over the nation’s debt ceiling has sparked some questions and concerns about how the issue may affect individual investors, local professionals say.
“The concerns started coming in about a week ago, and they are coming from people who are either retired or very near retired,” said Mark Pettinga, president of Evansville firm Pettinga Financial Advisors.
“They just don’t want to revisit a situation like 2008/2009 again.”
The situation is uncertain and unprecedented, the advisers say, but their advice is a familiar investment refrain: Stay the course and don’t panic.
“Don’t be knee-jerking and trying to do some timing maneuvers,” advised Ken Sendelweck, president of private banking and wealth management at Jasper, Ind.-based German American Bank.
Most of German American’s customers, Sendelweck said, have confidence the situation will be resolved before the Aug. 2