Local advisors offer advice on financial uncertainties in Santa Barbara

SANTA BARBARA, Calif. - Between rising interest rates, a shaky stock market, and recent bank failures some investors in Santa Barbara are worried.

"Worried about whether the dollar is going to be the reserve currency for the world, whether we’re gonna have a failure to pass that the debt ceiling we’re worried about with the housing prices are gonna go down," said managing partner Joe Weiland of Arlington Financial Advisors.

Other concerns advisors are hearing at the Arlington financial advisors involve retirement, how to pay for a child’s college, or other important life expenses.

"We’ve been extremely busy from the pandemic of people really taking stock of their financial lives, and seeing what changes how can I make corrective actions today to have the future I want financially in the future," said partner Dianne Duva at Arlington Financial Advisors.

As financial uncertainties mount, local advisors recommend you have a long-term plan. 

"What I think the most important thing for people to take is the message is that they should have a long-term perspective on their finances they should have a straightforward plan. They should have an understanding of what the what their resources are and how much they have to spend," said Weiland.

If you don’t have a plan, they said it’s never too late to create one.

"So you know where you’re going you understand the risks out there and you understand what actions you were going to do to ensure your financial security," said Duva.

"We advise people to think if it in terms of long-term cycles, not what’s going to happen in the next two to three months," said Weiland.

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