DENVER - Even though investors are really confident in the U.S. ability to pay its debts, the markets can change quickly if this debt default debate keeps going.
So, what should you do if you are worried about America defaulting?
Charlie Farrell with Northstar Investment Advisors talked to 9NEWS about what Americans should do to ensure they do not lose money during the economic troubled times.
"A couple years ago, we went through the Lehman Brothers fallout...and the market sold off heavily and then eventually recovered. We went through the decline in 2000 for 9/11. We always gotten through those crisis," Farrell said.
Farrell also reminded investors to make sure they know what they own and trade. Take a look at your portfolio and where it is dispersed.
He also recommended contacting your local congressman and senator because "this is a political issue, not really a business issue, so politicians will respond to people when they hear from them."
Farrell says to not worry about bonds. There is an ironclad guarantee that you will get your money with. However, the problem with the bond market right now is interest rates are really low. Stay shorter term, Farrell recommends.
Most of all, Farrell says to stay calm.
"Don't panic. Ultimately this has to get done. The U.S. is going to have to raise its debt ceiling - the numbers dictate that, everyone in the market knows that. It's going to happen, whether it's going to happen orderly or chaotically, the reality is look beyond it. Stay focused," Farrell said.
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