Originally Posted By Jim in Merced CA The headline on the front page of the San Francisco Chronicle -- GRIM BOTTOM FOR RETAILERS Okay, so with the lousy economic outlook, we cut back on spending -- that's bad! Retailers are freaking out. But if we spend, were not saving enough, and living beyond our means. And heaven help us if we bought Chrisrmas gifts, paid with a credit card and don't pay it off immediately. And if you stay in your home with an 'upside-down' home -- we're saps for not walking away. If we get out of the stock market -- were wimps who have no guts. If you cash out your mutual fund account, you're stupid for not 'waiting it out' No matter what we do as consumers -- we're wrong! I'm sick of it.
Originally Posted By Goofyernmost My suggestion...do whatever works for you. As I always suspected all the "experts" are just guessing like the rest of us. If you can afford it, spend it. If everyone stops spending...hello depression. I have chosen the path of not changing a damn thing. I am doing the same as I did before the "big let down" and until I am broke and eating out of dumpsters, I will continue. As long as I keep my job I am better off then I was before anyway. Now that energy prices are down I actually have more spendable income than a few months ago. The losses on my retirement are still just paper and haven't started to change my standard of living. There's a good chance the dumpsters will be empty before long as well. Then I will get a job with the WPA and make the Bush ranch a national park. World War III will have kicked in by then so we will soon recover.
Originally Posted By vbdad55 ^^^^^^^^^^^^^^^^ I have got to agree with goofy here- do what you think is best. If someone had all the answers they'd have all the money also. I moved my 401K to money market/stable valueearly in the year because I believedthe economy was going to tank. Some 'experts' said it was and some said it wasn't- I did what I thought correct. I guessed right - but that's all it was - a guess. yes an educated one,not a whim,but it couldhave turned out differently. As for going out to eat - etc....all I can tell you is this. I attended the funeral of 4 friends this year - all younger than me ( 53 ). It was a very sobering year - and tomorrow is promised to no one. So while I am fixed on making sure I don't have to live under a highway overpass when I'm 70 because I'm broke...I am also trying to leverage that against enjoying the day as well. A health scare a few short years ago made me see day to day life much differntly than before that...
Originally Posted By mawnck >>If we get out of the stock market -- were wimps who have no guts.<< Which do you prefer, guts or money?
Originally Posted By vbdad55 I got out 9 months ago ( except for some stand alone stock investments- not 401K -type funds) - - and am damn glad I did....I may be gutless but I didn't lose 34% last year.
Originally Posted By fkurucz <<You don't lose until you sell.>> True, but it can take years or even decades to make up the lost ground.
Originally Posted By mawnck >>You don't lose until you sell.<< Ridiculous. If you're going to buy into something that you expect to do better (which can include cash), then of course you should sell. Only an idiot rides a stock down when he could do otherwise.
Originally Posted By Inspector 57 "Ridiculous. If you're going to buy into something that you expect to do better (which can include cash), then of course you should sell. Only an idiot rides a stock down when he could do otherwise." I wasn't offering stock market advice. I was merely stating the obvious: there is no gain or loss until the transaction is completed. <<Only an idiot rides a stock down when he could do otherwise.>> Okay, part of my point is that the market is predictably cyclical. Panic selling is usually not a good long-term strategy. But I defer to vbdad55 on this topic: "If someone had all the answers they'd have all the money also."
Originally Posted By fkurucz <<Okay, part of my point is that the market is predictably cyclical.>> Bubbles have a way of wrecking havoc with that. The Nasdaq still hasn't recovered after almost 10 years. The housing and credit bubbles have cleaned the market's clocks pretty good as well.
Originally Posted By SuperDry <<< Bubbles have a way of wrecking havoc with that. >>> When I first read the sentence, I thought it started out with "Bubbles HAS a way..." I thought: "What could Michael Jackson's monkey possibly have to do with economy?" I think seeing Bubbles at the beginning of a sentence with a capital B threw me off.
Originally Posted By mawnck >> I thought: "What could Michael Jackson's monkey possibly have to do with economy?"<< What indeed ...
Originally Posted By Dabob2 I heard that Madoff is singing like a bird to the Feds about Bubbles. I'm telling you now - Bubbles is going DOWN.
