CHARLESTON, S.C. (WCSC) - News of the coronavirus has sent stock markets tumbling.
Every day many watch daily as the “virus” eats away at their retirement savings tucked away in the stock market.
However, there are other investment strategies available.
Real estate investor and attorney Clint Coons of Anderson Legal Business and Tax Advisors warns those with assets in the stock market not to overreact.
“You know it’s really easy to panic,” Coons said."Of course, what does panic lead to? Making rash decisions. What I would do is take a step back. Calm down. See what happens within the next month and then decide what you want to do with your portfolio as far as readjusting things."
Coons is in town for a three-day Tax and Asset Protection workshop.
It’s being held at the North Charleston Convention Center and is is designed to show people how to get started investing in real estate and the proper way to create LLC’s and tax structures for business.
Instead of investing in Wall Street, he suggests that you could do just as well investing on ‘your’ street.
“What I realized is that when real estate goes down it still cash flows,” Coons said. “When your market goes down your standard of living goes down. So that’s why I like real estate.”