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Michigan financial experts speaks on managing investments, retirement funds amid trade war

It was another up-and-down day on Wall Street following President Trump's tariffs, with people throughout the country and the world losing money in their investment and retirement funds. 

As the stock market continues to disappoint, the nonprofit organization Greenpath Financial tells CBS News Detroit that more people are coming to it now for help managing the stress of seeing what's happening with their finances.

"You know, we just want people to kind of take that step back and say, look, you know what, in the long term, the market will correct and come back as we've seen in our history," said Andy Manthei, change cultivator at Greenpath Financial.

What to know about stock market turmoil 04:36

As a trade war ensues between America and the rest of the world following President Trump's tariffs, it's been uncertain and frustrating for most Americans who are reviewing their 401k and investment accounts. 

"It's terrible, and everyone is pissed. You know, I work in mortgages, and we're looking at the market all the time, and right now, it's hurting a lot of our clients, it's hurting a lot of people everyone works with, it's hurting my coworkers," said Elijah Barginere from Highland Park.

Andy Manthei at Greenpath Financial told me his advice to clients is to stay calm and not make any rash decisions when reviewing their portfolios. He tells me people make big financial decisions under stress far too often. 

"When we're under stress, we're looking at the whole situation, we're freaking out about a lot of different things, and if we can ground ourselves in what we know, that can sometimes help us make different decisions and better decisions."

Many economists recommend that people avoid monitoring the market's daily fluctuations, especially if they are not near retirement age. 

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