Corona Virus versus money

Wide spread diseases affecting money

Cold front approaches.

For now, enjoy mild temperatures.

We are cooler away from the coastline with upper 50s at mount pleasant and charleston and summerville and headed for about 70 this afternoon.

Clouds hanging on most of the day with peeks of sunshine here and there.

Most of the day dry.

After 5:00 p.m.

Or 6:00 p.m.

Another round of rain coming through which is one of many of the next several days.

We timeout rain chances and let you know when heaviest will fall and howmuch will fall where you live and what the weekend looks like coming up as well .

>> jon bruce: coronavirus and 2 cases found at georgia on monday.

>> leah uko: spiking fears and shrinking retirement savings.

Brooke schwieters joins us with why you should not panic about either yet.

>> brooke schwieters: we sat down with wealth management group president here at mount pleasant who tells us that the effect of widespread diseases on the stock market is pretty common with major downturn last week with the stock market and a last-minute surge yesterday.

Local economy global economy saw this with sars at 2003 and ebola at 2014 as well.

Coronavirus we see this today.

Why does this happened?this begins at china where a lot of manufacturing takes place.

A lot shut down in light of the coronavirus where it originated.

Local wealth management president bobby cummings says it comes down to supply chain and ripple effect from product availability and future revenue which impacts the company's bottom line and possibly future investments like the 401(k).

He says it's important not to take the knee-jerk reaction and pull out as times look tough.

>> encourage those with a long time horizon and if it's retirement money to stick with their asset allocation if it's appropriate with their age.

Look at this as what will should prove to be which is a buying opportunity.

>> brooke schwieters: he stresses that the type of account is not as important as the timeline.

If you have years ahead of retirement, it's important to stick with long-terminvestments .

He adds that if you are one or two years from retirement, this could be the time to start assessing risk and talking to your financial advisor about what to do with your money.

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