Published: Aug 09, 2011 4:22 AM EDT
Updated: Aug 09, 2011 4:33 AM EDT

FORT MYERS, Fla. -- Should Americans be worried about the downgraded credit rating and Monday's sell off on Wall Street?  Will people start to spend less and save more?  WINK News spoke with financial advisors to find out.

Investors suggest if you can, wait out the financial storm.  As the closing bell rang Monday, Fort Myers certified financial planner Todd Macke said it served as a wake up call for America.

"This is a reflection of something internally that is going on.  We need to become an educated society about how our economy works, how the budget works," said Macke, Macke Financial Advisory Group.

Between a mini crash last week and the Dow tanking 634 points on Monday, some said it's causing a stall in the economic bounce back, meaning more people are saving instead of spending.

"I would expect people are going to be a little more concerned.  I think consumer confidence is going to go down a little bit and the overall result is people are going to be more cautious about their spending," said Gary Jackson, FGCU Professor & Regional Economic Research Institute Director.

In the last two weeks, U.S. stocks have fallen 15 percent but Macke said it's not a reason to panic.  He said emotion can get the best of you at the worst time.

"This too shall pass and you're not going to fix this overnight.  You need to wait this out and then look back at your tolerance for risk and ask does this really match up to my pulse?  If not, maybe I need to make some changes to my portfolio," said Macke.

"When you come out of a recession where you have a housing bubble and a financial crisis, it really does take a long time to recover," said Jackson.

Local people said they're concerned but said what happens is out of their hands.  Others said the economy will take the ultimate blow.

"It is out of our control.  Only thing we can control is who we elect," said Rick Robbins, who is a concerned spender.

"I think we should all be concerned about it.  I think that we need to look at how we're spending things and what people have for debt," said Destiny Ramming Malone, who is watching the stock market.

Comparing to the crash of 2008, Jackson said it'll take time and that today's problems are from years ago.

"I think this is an overall process of working through the issues that were created from the recession that is now more than two years ago," said Jackson.

Macke said the stall out in growth comes down to people being scared for what the future holds, which holds back our economic recovery in the long run.

"The American people have begun to save more, spend less, and that is one of the reasons why we're not seeing the growth in our economy," said Macke.

Investors said tomorrow is another day and futures point to a lower open on Tuesday morning as of right now.  Investors said if you can, wait to make financial decisions until things become a little more stable.