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So am I. But my quesiton for you money gurus? Isnt this huge correction good for me in the near future if I want to start investing. Once everying gets as bad as it can get, it can only go up right? I sold my home last year (for profit), cashed in my IRAs (lost my 10 percent penalty), and I am just sitting on the sidelines. Had I not cashed out, my net worth would only be worth 26 percent of what it was 8 months ago.
I would say so. The market is a bit up and down right now, but if you catch it at the right time, it could be a HUGE benefit to you in long term after things stabilize and get back on track. Then again, long term investors aren't worried atm, the short term ones are the ones shaking in their boots. Makes sense though, I always saw short term trading as nothing short of rolling the dice at the craps table.
Well, in light of these past couple of weeks, that is not a very sensible response. I'm one of those who DID plan...carefully. I just retired 3 months ago and, supposedly, had enough in savings and investments to make my retirement comfortable as long as I was prudent. Guess what, I just watched my retirement money go up in smoke....despite my careful planning ...because of the greed and mismanagment of others. So today I am thankful that my SS was not invested in the stock market because it is about the only thing untouched.
Sorry to hear that. I hate to see folks loose what they've saved up for, truly sad. I hope SS stays in good standing. I'm not sure what a pocket full of money would be any good for in the future though, we may all end up living off the land or go hungry, with money or not. I invested in plenty of garden space,and woods for future fire wood.
Looks like Pelosi screwed up with that final speech. Look how many Dems voted against it Yeah, bi partisan my a-s-s, can't even get your own people on board Pelosi and Frank This is amazing
She is amazing....not. This is very interesting. In 89 the market droped 25 percent, in 29 it was over 50 percent. This is still a small percentage drop, so it will be interesting to see where it lands.
Well, in light of these past couple of weeks, that is not a very sensible response. I'm one of those who DID plan...carefully. I just retired 3 months ago and, supposedly, had enough in savings and investments to make my retirement comfortable as long as I was prudent. Guess what, I just watched my retirement money go up in smoke....despite my careful planning ...because of the greed and mismanagment of others. So today I am thankful that my SS was not invested in the stock market because it is about the only thing untouched.
Your SS is not untouched. It doesn't really exist. The money you put into social security was spent years ago. What you get now is simply borrowed from China. It's all a big shell game, the biggest pyramid scheme in history.
The bailout should fail, and I'm glad that it appears as if it has. I will endure any hardship I have to in order to ensure that my children and their peers do not have to have a 70% tax burden. If that means I'm working two jobs and don't get luxuries, so be it. Better I pay for the mess my generation has made then have my kids pay for it.
The House of Reps got it right for a change. Now let us watch the dance.
LML - good luck. I suggest just letting your investments stay where they are. If you diversified and were prudent you will be fine. There is still a lot of work to be done after the speculators are chastized.
Your SS is not untouched. It doesn't really exist. The money you put into social security was spent years ago. What you get now is simply borrowed from China. It's all a big shell game, the biggest pyramid scheme in history.
Exactly... and much of what was there has been borrowed against by the government itself.
And ... here's the big revelation... because your portfolio is down 15% for the year doesn't mean you lost 15% of your money. Until you sell for less than you purchased, looking at the basis, you don't lose money.
If you didn't sell a dime, and the companies you invested in didn't go bankrupt, you haven't lost a dime yet. Just like you didn't make a dime when you bought at $10 and it rose in value to $30 and you didn't sell.
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Yeah, bi partisan my a-s-s, can't even get your own people on board Pelosi and Frank
This is amazing
