Just saw that the feds cut interest rates to help stop the plunge and curtail possible recession. Unfortunately this is a bandaid effect. Looks like the European Central Bank will probably raise its rates, to slow inflation, whick will untimately hurt the value of the US dollar even more. This may lead to higher oil prices and such.
Patience is hard when you see money jumping ship from your investments. I remember my father talking about not being patient in 87 and losing a bunch of money because of it. So after 9-11 and the market took its big dip I doubled my contributions from 10 to 20% of salary when everyone was selling. Best move I made. I feel the same scenario is playing today and for this year, unfortunately the best I can do right now is contribute the maximum allowed to my IRA.
2008-01-22, 01:35 PM
Hybrid Mode
