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Don't get me wrong, but maybe I missed the memo that said the Stock Market gains are guaranteed.
I missed it to. People laugh at me but making only 5 percent in CDs it is fine with me and I don't have to talk about my portfolio going down. Looks like the stock people are in for a hell of a ride today. Who knows what way. Stocks tumbled up to ten percent around the world last night. Stocks dropped 22 percent in one day in 1987 and don't be surprised to see it happen again. I watched the same brokers saying buy at 13,000 then at 12,000, then at 11,000 and definately when it fell below 10,000. Well it's at 8,400 and it looks like another drop coming. Yeah when it actually hit's bottom it will be a good time to buy but it's like housing it's anyones guess.
I do think that there is an irony to all of this. Now I'm still learning the ropes in macro, but with all the selling that is going on out there, where are people putting their money? In something thats safe and secure- things like CDs and government bonds. People are flocking to these markets and in a way they are helping the government because the government is now flush with cash from investors fleeing the stock market. This is a good thing because that means that the gov't may not have to monetize (print money, possibly introduce inflation) to cover the $700B bailout because of the investors flocking to government debt (the safest investment you can make).
I missed it to. People laugh at me but making only 5 percent in CDs it is fine with me and I don't have to talk about my portfolio going down. Looks like the stock people are in for a hell of a ride today. Who knows what way. Stocks tumbled up to ten percent around the world last night. Stocks dropped 22 percent in one day in 1987 and don't be surprised to see it happen again. I watched the same brokers saying buy at 13,000 then at 12,000, then at 11,000 and definately when it fell below 10,000. Well it's at 8,400 and it looks like another drop coming. Yeah when it actually hit's bottom it will be a good time to buy but it's like housing it's anyones guess.
Finally someone that thinks like me. I'll take my lower interest CD'S money Markets and 401ks. It would be to much stress for me to own stocks in this crazy market. The Dow on my AOL broser keeps changing by the minute.
Is it me, but everytime one of them political knuckleheads address the nation with a press conference the stocks market tanks. Maybe if they stayed away from the cameras and shut up it won't plunge that much.
i have to make lemonade from lemons - my $5000 IRA contribution will be mailed very shortly...
tahiti - Hold on to that $5000 for a few days. You could end up buying out GM with that kind of money. You could go to the stockholder's meeting in your evening gown and sing (ala Dinah Shore) "See the USA in your Chevrolet!"
I did live within my means..and getting punished regardless. I will not risk my money in this garbage. Ill put it in Cds and the like where interest is guaranteed.
I did live within my means..and getting punished regardless. I will not risk my money in this garbage. Ill put it in Cds and the like where interest is guaranteed.
Forget stocks..401K's, they are all garbage..
No, Our 401k is in secure savings, it earns $1000 a month, and never goes down. I know somethings you can make more with stocks, but you can also lose it all. I'll take my $12,000 a yr and run.
I did live within my means..and getting punished regardless. I will not risk my money in this garbage. Ill put it in Cds and the like where interest is guaranteed.
Forget stocks..401K's, they are all garbage..
So you're ok with losing the money you lost now, not buying cheap now, and missing the upswing?
Not me. I increased my 401k contributions.
Quote:
Originally Posted by Diane Giam
No, Our 401k is in secure savings, it earns $1000 a month, and never goes down. I know somethings you can make more with stocks, but you can also lose it all. I'll take my $12,000 a yr and run.
Diane G
401k's are not guaranteed. You may have a Stable Value Fund, but these still qualify as low risk and not no-risk. Even Guaranteed Interest Contracts can be decimated by inflation, and is guaranteed by the insuring company only - NOT the FDIC.
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