Residents search for answers during financial crisis

Published 10:42 am Monday, October 13, 2008

“To buy, sell or stay put?”

Inquiring minds want to know.

“To stay the course, or not to stay the course, that is the question:

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“Whether ’tis nobler in the investors’ minds to suffer the slings and arrows of outrageous misfortune in the stock market, or to take arms against a sea of troubles with a bailout plan.

And by opposing end the financial crisis.”

“To die on the floor of Wall Street: to sleep until the sun rises.”

Imagine Shakespeare writing for Business Week about the current global financial crisis.

America has not seen this kind of turmoil since the Great Depression. First, Wall Street. Then, Main Street.

The crisis seems ready to consume all.

Long-term plan, more straight talk.

That’s what Kathy Wichmann offers.

She is a Thrivent Financial Services financial associate.

Since the home mortgage crisis erupted, and each day a new crisis or bailout remedy was announced, investors have been pecking away at Wichmann and other financial advisors with questions.

Wichmann’s company reacted strongly to those questions. Wichmann and other Thrivent Financial Services advisors offered good news in a sea of doom and gloom.

“Thrivent’s financial health is strong,” is their mantra. While other financial firms are struggling with significant investment write-downs, Thrivent is not.

In the face of risk and volatility in the stock market, Thriven touts its investments are sound. That’s why Wichmann is telling clients who worry whether their investments have sufficient protection simply to “Stay the course.”

“It’s the best advice we can give at this time,” she said. “History shows this to be true.”

Thrivent members are asking Wichmann about their investment portfolios.

“More people are calling now the question what they should do,” she said. “Thrivent asset quality is very sound,” Wichmann tells those members.

“Many people are concerned and rightly so,” Wichmann said. “They hear so much negativity every day.”

“I tell them to look at a long-term investment plan,” she said.

Wichmann points to Thrivent’s own strategy to protect its members as evidence how the company has anticipated some of the market troubles today.

“A long-term investment plan has worked through the years,” she said.

And one more time, Wichmann advises investors to “Stay the course.”

The nagging question left for investors and financial advisors to ponder is this: Are we tough enough to stay in the stock market?

Inquiring American minds want to know.

Wichmann’s office is located in the former Bone Appetit Canine Bakery and Gift Shop at 1211 Fourth Street Northwest (Phone 437-6262.

Thrivent Financial Services for Lutherans plans a live Web cast event 7:30 p.m. Thursday, Oct. 16, featuring Russell Swanson, chief investment officer, discussing “Standing Strong in Troubled Times: Surviving the Economic Roller Coaster.”

For more information go online to www.thrivent.com.