I'm I the only person that is getting nervous about the economy and the stock market?
Things that were once considered safe investments - bank stocks have been getting hammered!
Guaranteed investments are only paying a few percent.
I'm hoping to retire one day, what are your thoughts/strategies?
I'm I the only person that is getting nervous about the economy and the stock market?
Things that were once considered safe investments - bank stocks have been getting hammered!
Guaranteed investments are only paying a few percent.
I'm hoping to retire one day, what are your thoughts/strategies?
Dave
Right now almost everything we have is cash in GICs and they aren't paying much, 4.5 to 5%. That said it beats the risks in the market. The TSX took a 400 point haircut today and with all the uncertainty I am uncomfortable with stocks.
I think the trick (for now) is to get your home paid off as soon as you can and be sure to set some money aside every month. Once the markets and the economy appear to be coming back it may make sense to get back in.
I am just as nervous as you...what I fear most is hyper inflation coming along and making our lifes savings valueless.
I'm I the only person that is getting nervous about the economy and the stock market?
Things that were once considered safe investments - bank stocks have been getting hammered!
Guaranteed investments are only paying a few percent.
I'm hoping to retire one day, what are your thoughts/strategies?
Dave
How old are you Dave? Your individual strategy will depend on your investment horizon and risk tolerance. If dips in the stock market keep you up at night then stocks/mutual funds aren't for you.
Depending on how much you have to invest different strategies can be formulated for you/your family.
I think the trick (for now) is to get your home paid off as soon as you can and be sure to set some money aside every month. Once the markets and the economy appear to be coming back it may make sense to get back in.
I am just as nervous as you...what I fear most is hyper inflation coming along and making our lifes savings valueless.
I'm just trying to get the morgage paid off and keep my dept load very low....
I'm I the only person that is getting nervous about the economy and the stock market?
Things that were once considered safe investments - bank stocks have been getting hammered!
Guaranteed investments are only paying a few percent.
I'm hoping to retire one day, what are your thoughts/strategies?
Dave
like the fellas said, it depends on how long you have until you plan on hanging it up.
i play aggressively in the energy sector, because i have contacts around the industry and it's what i know. my retirement plan, regardless of economic factors is to own commercial real estate so i earn an income and don't chip away at my capital. i currently have one that is paying me 10% annually. i'd recommend it to anyone. the risk of it in a downturn is that you may lose tenants, but my suggestion is to buy some building that has a government run department in it. post office for example. unless the world is nuked, the gov't will pay the rent and they ususally won't sneeze to hard at a fair "adjustment". stay away from tenants whose business is from peoples' "fun" money that won't be around in a recession and you'll be ok.
I've been working on a long term investment strategy that has taken me years to formulate but has a huge return. Its called inheritance
I just not ready to cash in quite yet
I've been working on a long term investment strategy that has taken me years to formulate but has a huge return. Its called inheritance
I just not ready to cash in quite yet
Here is what I know about the markets and investments,,,,,
If you stay to long,you will be told you got out to late
If you get out to early,you will be told you should have stayed longer,
If you bought a house and the price went down,you will be told you bought in at the wrong time
If you bought a house and after 3 yrs interest rates are 20 percent,you will be told you should have locked in for the long term
If you bought a house and you locked in for 10 yrs,and interest drops,you will be told pay the penalties for the lower rates,
If the US ecomomy does poor,so does ours,we have higher rates and a lower dollar
If the US economy does well,well we may be ok,as we will have higher interest rates and lower dollar
When the dollar is par with the US,hang on cause something in the Universe is skued,oh yea and we are screwed,
If you have made it this far,you can see that no one has a crystal ball,and that hindsight is 20/20.
We are entering an era that has never been travelled,so all the conventional wisdom is moot.Investing is like throwing a dart at a swinging dart board,the people that hit the most bulleye's get to distribute the most bull.
Remember,so far the governments have not figured out how to get the trillions of dollars people have accumilated in self worth,or have they?
I like to listen to people that are rich,drive expensive cars and retired by 35,anyone out there? Lotteries do not count,
I'm I the only person that is getting nervous about the economy and the stock market?
Things that were once considered safe investments - bank stocks have been getting hammered!
Guaranteed investments are only paying a few percent.
I'm hoping to retire one day, what are your thoughts/strategies?
Dave
Dave
If I owned any bank stock it would have been sold,by the end of 2007at the latest. I am very nervous about the economy, starting with the blow up of the tech bubble...with Big Al lowering interest rates...comes a real estate bubble..,.now you see the beginning of a the financial crisis... devaluation of the global currency ( U.S. ) dollar...comes inflation...loss of jobs...recession...anyway my point is I personally have been into precious & base metals also oil & gas since 2001...have I done the right move,we will see...its not over till you sell.
That`s my strategy and so far it works.
There will always be pull backs:
When in a bull market of any sector always buy on the dips.
Oil, Gas, Precious and Base Metals, Food, Uranium, etc.
I`m not telling you what to buy ,this is what I have done.
In this time in history you will have to know an advisor you can trust because a lot of them have told me I`m crazy, for investing the way I just set out. You decide.
If I owned any bank stock it would have been sold,by the end of 2007at the latest. I am very nervous about the economy, starting with the blow up of the tech bubble...with Big Al lowering interest rates...comes a real estate bubble..,.now you see the beginning of a the financial crisis... devaluation of the global currency ( U.S. ) dollar...comes inflation...loss of jobs...recession...anyway my point is I personally have been into precious & base metals also oil & gas since 2001...have I done the right move,we will see...its not over till you sell.
That`s my strategy and so far it works.
There will always be pull backs:
When in a bull market of any sector always buy on the dips.
Oil, Gas, Precious and Base Metals, Food, Uranium, etc.
I`m not telling you what to buy ,this is what I have done.
In this time in history you will have to know an advisor you can trust because a lot of them have told me I`m crazy, for investing the way I just set out. You decide.
Be wise Protect Yourself
Rod
Love the Vette
I have done this also. Bought into Silver, Gold & Uranium stocks. We should make out real well in the next few years
z060-0
I have done this also. Bought into Silver, Gold & Uranium stocks. We should make out real well in the next few years
Exellent, now the next trick is to watch the balance sheet of your broker, mine now as of July 23/08 will not allow anymore transactions with my bank card ,the one that I can use to move money in or out of my trading account. More worried obout the out part.
Things that make you go HUM.
Are we talking a little financial problem. Gotten into to many subprime cr*p, svo`s ,cdo`s ,otc derivatives maybe throw in a few ABCP`s, and presto writedowns.
Since I don't retire for another 20 years, this little rough patch doesn't faze me in the least. If nothing else, it allows my fixed monthly contributions to buy more units. It's impossible to time the market in the short term, and countless studies have shown that if you miss out on the 5 or 6 best days of the year, you miss out on the majority of the returns. Tomorrow could be one of those days. In the long run it all evens out. Having said that, any extra money I have is being parked at ING right now and if the markets dip another ~1500 points I will start buying. If not, I'll just have more cash for a Vette
Corvette Store
OT - Retirement funds, what to do?
