There's been a little relief in the stock markets at the beginning of this week, but what a wild ride it's been lately. Oodles of money have been lost in markets and real estate, and nobody is quite sure where the bottom is.
The pros say don't panic, but some days that's hard for a nation nursing IRAs and 401K nest eggs into an uncertain future.
Listen to On Point conversation with top financial advisors from around the country about how to survive, and maybe even thrive, in this wild market.
Have you panicked? Cashed out? Are you buying in cheap? What's your question on how to defend and protect the family nest egg?
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Comments: 4
In the fall of 2009 maybe, I'll think about moving it back, and also maybe a bit in 2008 in the November time frame for a couple of months, but I don't know if I'll do that now.
Here we are being somewhat shocked at what the investing class, buoyed by Bush's tax cuts, have wrought, and yet apparently being pushed by advisors right into that class with a great heave-ho! (I read an article in a local publication by Robert Reich directly on this point very recently, saying concerns like those are not up to the investors; this is the appropriate job of government and they should keep their noses to that grindstone -- something along those lines.) Anyway, I am not holding my breath. I put most of my money in a particular "socially responsible" account last summer and watched in sink as my remaining diversified stocks spiked. I don't care.
I thought: The question is not WHETHER to switch all retirement monies into "socially responsible" funds. The question is who will determine what truly socially responsible means, and which funds reflect my idea of a solid pavement into the future. I would rather die a pauper than find I have invested in the process of destroying the planet.
And I do NOT want older Americans to find themselves cast in the same hopper with the "top 10 percent" just because they (like the top 10 percent) are guarding their assets. How happy the Republicans will be to have that baby boom bloc solidly in their pockets.
I am rebelling in advance.
Says who???
Nothing particularly new or interesting in the advice given.
Diversify, protect your investment from inflation, don't panic. Kind of a snooze.
Its true that good investing is not gambling and should not be exciting, but it would have been nice to hear more about the proper sectors to be in during a economic contraction or how to hedge.
I am getting good returns this year, partialy by hedging with ultrashort ETFs.