Hello I'm Rich Brown and this is my personal website and blog. I'm just your simple, average, down to earth, professional, out gay man and aspiring circuit boy, living in Phoenix, Arizona with a few things to say while trying to find my place among all the scary, conservative, religious nuts in this sick and twisted world.
Thursday, October 09, 2008
Our Current Financial Crisis
With each passing day as I sit in my office and watch the market drop I get a little more sick to my stomach. I fight the urge to look at my 401k and investment portfolio because I know I'm now not only loosing the gains my portfolio made, but also the hard earned cash which had funded these accounts. I can only take some small comfort in knowing that I'm not alone and most people are in the same situation. I also take a little additional comfort in knowing that my monthly investment contribution will be able to buy more now then it did 6 months ago.
I think I can speak for most Americans when I say I never realized our economy was so volatile, but I guess in some small way, we all knew that just as everything can go up, it can also come down. I just don't think any of us expected it to fall so quickly. We're all watching eagerly to find out if we've hit bottom yet, or if we still have more drops to go.
I'm anxiously awaiting the upcoming election because I think once the new president is elected, things will finally start to stabilize out. I hope.
Um yeah, I have lost about half of my portfolio...but it's just retirement so I guess there's no point in worrying about it now. Still have over 30 years for it to go up! Although it's always nice to think you can pull it out in an emergency.
|______________________________________________________________________ posted by Jerry Timms @ Thursday, October 09, 2008 6:16:00 PM
I've been listening to NPR and the financial advisors for investments---especially for younger people who have time for recovery---are advising hanging tight, if you can. If you get out now, they say, you can't recover those losses. That sounds logical to me---but is probably hard, when you're watching your hard-earned income disappear.
Thanks for stopping by my blog! I appreciated your comment. Remember, most times when you hear "Save the Children", you should check to see if they are grabbing your wallet or curtailing your rights! *smile*
Anne.
|______________________________________________________________________ posted by Anne Kaelber @ Friday, October 10, 2008 6:49:00 PM
