Tough times/ Bad Economy

sa meredith · 09-30-2008, 05:53 PM

Even the most optimistic person has to recognize the significance of what is happening around us. I mean, real estate, the market crash, Wachovia Bank actaully failing. The only safe investment right now is probably a Treasury Note...currently returning 1 to 1.25 percent (so $10 on every 1000). It is probably the equivalent of putting your money under the mattress, but it's safe.
Don't want to be the voice of gloom and doom...but I would say things are going to continue to get worse, very much so, before they get better.
I know I can't hold out much longer...my reserve cash supply continues to take a hit month after month, as I try to maintain some type of quality of life...but give it another year or so...and man, I've got to start all over. Sounds fun!

Pineedles · 09-30-2008, 06:18 PM

The "experts" have given you all their perspective of what this recent market flucuation is all about. If you are 5 years or less away from retirement and you have lost more than 20% of the value of your portfolio it is unbalanced! See your broker! Rebalace it, you have too much risk as you near retirement. BTW, it may not be your brokers fault, you may have told him that you are very risk/reward tolerant. If any other situation exists, don't look at your portflio, just watch the sunup and sunset, you will be fine. BTW, I am not connected to the Financial Services business in any way.

Just a semi-educated guy who is 13 years away from retirement and he will be adding bonds to his portfolio in 5 years. But not before!

SAMIAM · 10-01-2008, 09:37 AM

I remember,I couple of years ago.when Wachovia Bank announced they were "reaching out" to the illegal....oops,I meant undocumented immigrant community with loans and accounts without proof of residence.Looks like they reached a little too far.
Now,all of the sleazy politicians expect us to pony up.......they were elected to represent US, but don't care that the public is overwhelmingly opposed to the bail out.

SIKSUKR · 10-01-2008, 09:59 AM

Very impressed with the level of knowledge on this board of how this mess has happened.Methinks that people that play in water are very smart at knowing how NOT to drown and the Capt boneheads usually are the ones that get into trouble and need the Marine Patrol to bail them out because they had no idea what issues might arise out there.Yes,there is an analogy or something like that with that statement.It must be George Bush and the GOP's fault that guy on Long lake ran over those 2 poor people!

09-30-2008, 05:53 PM	#1
sa meredith Senior Member Join Date: Jun 2007 Posts: 986 Blog Entries: 1 Thanks: 32 Thanked 352 Times in 137 Posts	getting worse Even the most optimistic person has to recognize the significance of what is happening around us. I mean, real estate, the market crash, Wachovia Bank actaully failing. The only safe investment right now is probably a Treasury Note...currently returning 1 to 1.25 percent (so $10 on every 1000). It is probably the equivalent of putting your money under the mattress, but it's safe. Don't want to be the voice of gloom and doom...but I would say things are going to continue to get worse, very much so, before they get better. I know I can't hold out much longer...my reserve cash supply continues to take a hit month after month, as I try to maintain some type of quality of life...but give it another year or so...and man, I've got to start all over. Sounds fun!

09-30-2008, 06:18 PM	#2
Pineedles Senior Member Join Date: Aug 2004 Location: Moultonborough & CT Posts: 2,545 Thanks: 1,072 Thanked 668 Times in 367 Posts	I give up! The "experts" have given you all their perspective of what this recent market flucuation is all about. If you are 5 years or less away from retirement and you have lost more than 20% of the value of your portfolio it is unbalanced! See your broker! Rebalace it, you have too much risk as you near retirement. BTW, it may not be your brokers fault, you may have told him that you are very risk/reward tolerant. If any other situation exists, don't look at your portflio, just watch the sunup and sunset, you will be fine. BTW, I am not connected to the Financial Services business in any way. Just a semi-educated guy who is 13 years away from retirement and he will be adding bonds to his portfolio in 5 years. But not before!

10-01-2008, 09:59 AM	#4
SIKSUKR Senior Member Join Date: Apr 2004 Posts: 5,075 Thanks: 215 Thanked 903 Times in 509 Posts	Very impressed with the level of knowledge on this board of how this mess has happened.Methinks that people that play in water are very smart at knowing how NOT to drown and the Capt boneheads usually are the ones that get into trouble and need the Marine Patrol to bail them out because they had no idea what issues might arise out there.Yes,there is an analogy or something like that with that statement.It must be George Bush and the GOP's fault that guy on Long lake ran over those 2 poor people! __________________ SIKSUKR

10-01-2008, 09:37 AM	#3
SAMIAM Senior Member Join Date: Apr 2004 Location: Moultonborough Posts: 2,903 Thanks: 336 Thanked 1,678 Times in 587 Posts	I remember,I couple of years ago.when Wachovia Bank announced they were "reaching out" to the illegal....oops,I meant undocumented immigrant community with loans and accounts without proof of residence.Looks like they reached a little too far. Now,all of the sleazy politicians expect us to pony up.......they were elected to represent US, but don't care that the public is overwhelmingly opposed to the bail out.