How Islanders can protect their investments as Trump turmoil shakes the markets
CBC
Syed Imran Ali, a third-year student at the University of Prince Edward Island, started investing about six months ago.
Originally from Pakistan and attending UPEI's School of Sustainable Design Engineering, Ali said he wanted to prepare financially to build his life here on the Island.
"After graduation, a lot of the students would be looking into purchasing their first house, maybe their car, maybe starting up a family," he told CBC News. "It's very important for students in general to start saving early, especially if you're doing some part-time jobs, to save and invest them, so you can have it for your future."
But lately, Ali has been paying close attention to how the markets are performing.
Ups but mostly downs fueled by U.S. President Donald Trump's tariff threats have definitely shown up on his investment portfolio.
"I am actually invested in stocks and shares and mutual funds, and also I know a lot of my friends and relatives who are invested in different shares and mutual funds," he said. "I am personally concerned about the volatility in the financial market."
He is not alone. Financial adviser Paul Trainor said he's been hearing a lot of anxiety from Islanders these days about the impact of Trump's global trade war on their investments, including their RRSPs.
"Everybody's concerned about it," Trainor told CBC's Mainstreet P.E.I.
He said part of his role lately has been reassuring clients that short-term market drops are normal, and not a reason to act out of fear.
"Don't sell, because if you sell, somebody's going to buy it and make a good profit six months from now. So the big thing to get out to the public is 'Do not panic… It's going to be volatile, but it's going to settle,'" he said.
"You heard the old expression, you know, 'Buy low and sell high.' Well, right now it's a low environment. It's a great time to buy, for sure."
Trainor noted that stock markets always go through ups and downs. While short-term dips can be a cause for concern, the overall long-term trend of stock markets has historically been upward.
For people nearing retirement, Trainor said most financial advisers would recommend avoiding volatile markets altogether and investing instead in safer options like Guaranteed Investment Certificates, or GICs.
"Those funds are not going to really fluctuate that much," he said. "At 85, you wouldn't have put your investments in a volatile market."
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