RICHMOND, Va. (WRIC) — When news broke that the Brits decided to break from the European Union, British native and local restaurant owner Terry O’Neill said he was shocked.
“It was a shock in a sense because I thought it would’ve been the other way around. After all, as I joke, it’s Britain now, we’re not Great Britain any more and it’s just another country in Europe where it was the country in Europe,” said O’Neill, owner of Penny Lane Pub in downtown Richmond.
O’Neill said British politicians failed to keep their finger on the pulse of the British citizens.
“They don’t go around checking on the Joe Blow or the carpenter or the bricklayer, the fellow who’s building the place, you know what I mean?” O’Neill explained to 8News Reporter Jonathan Costen.
Meanwhile, investment adviser Jeffrey Burgess said now is not the time for people back in the United States to panic about their 401k plans.
“If you are a 401K investor, you’re in for the long term already,” Burgess explained. “Stocks are the one thing people don’t want to buy when they go on sale and you’re getting a great bargain today. Your money is going in monthly, weekly, whatever your pay period, so some people are probably making money today.”
Burgess says you don’t want to sell just because the market is down.
“No, it’s a buying opportunity,” he said. “People are still going to wake up and go to Starbucks. People are still going to buy advertising on Facebook. The world will spin around,we’ll be all right.”