Just a sidenote: I have a relative who has substantial portions of their retirement portfolio in mutual funds.This summer before going on a month long vacation, she called and expressed concern to her financial advisor about the stock market.He calmed her, saying she would be ok in the long term. (Keep in mind, she's retired.)After their trip ended in early October and the market had been steadily declining, she again consulted with her financial expert.This time his story had dramatically changed. Consoling her he said, "Oh, it's going to be a long, long time before her investments would return to where they were. (If ever, in her lifetime.)Too late.But it was then I realized you, or I, or anyone reading this could have been a financial advisor!
Oh Dada I am so sorry about your relative and so many others who are losing their future security.When this latest roller-coaster started in Sept, I advised some people who were watching their stock funds diving downward, to wait for an uptick, then switch their riskiest funds to MMF's or CD's or T-Bills until they think some kind of bottom has been reached. I was called chicken little! Well, call me what you will, I only know that the gates of hell are carefully guarded by financial advisors who make sure you can check out anytime you want, but you can never leave (like the hotel calif, they are programed to receive).ps, I would still advise that today. any uptick that takes the market back into the mid-high 9,000's should be taken advantage of to cut out some risk. Cutting losses can be just as important as making money to a retiree. But then, I am NOT a financial advisor, I am only an interested investor in our economic future. And while MMF's and CD's and T-Bills have more risk now than they ever carried before, they can never fluctuate like stocks. pps, what's in the sub-basement that has Dorothy so fearful?
D.K. - Congratulations, good fin'l advice. You are an excellent advisor. Dorothy is worried the sub basement is a sub 6,000 DJI average. Having just renewed a CD for 4+% for 18 mos., I suddenly am accepting of it after Thurs' mkt that lost 5.56% in a day! (Of course, in unchartered waters such as these, can CD's security be assumed secure as the Titanic slips beneath the surface?)
6,000??? Auggghhhhh ... at first blush it sounds impossible ... but then I think of Iceland.4% for 18-mos is good right now! always assuming the world is still here in 18-mos. When we walked the dog today, someone had scratched into the sidewalk "2012-the world end" ... to which we appended "if Palin runs".
D.K. - "if Palin runs" -- A most appropriate appendage! There's nothing like twitty Palin lecturing us on the values her party should re-embrace to put all us Americans back on the right track.Palin sickens me. It's like taking the lowest common denominator and then halving it. She makes it sooo difficult for me to NOT resort to sterotyping...and I have to bite my tongue to stave off obscenities.So I'll stop now and try to salvage that portion of my dignity I haven't compromised by confessing to it here already.Oooh, if wolves could only fly in planes and shoot too. Then we might be able to call it "sport"!
assume you saw her on Countdown tonight? The PETA crowd should be all over her now, if they weren't before. Hint: turkeys were involved. I couldn't watch. Somewhere in Alaska there MUST be Kodiak with her on his mind!
D.K. - Thanks (sarcastically) for bringing the Countdown vid of Palin to my attention. (Since our satellite is now just a non-functioning "art piece.")Wow, Sarah's ride with McCain's made her a real photo op-hound junky, hasn't it? Such machismo, such juevos, gracing her amnesty blessing upon one "Tom boy" in the turkey pen amidst thousands about to be slaughtered. Isn't she the compassionate sumbitch?And then that incredible mini-press conference in front of the beheading, bloodletting machine. A cool, not so subtle, hint what's in store for half the USA once her power grab lustings have finally cemented her firmly in control?It gives me ideas where she could go stick her head!Again, thanks for keeping me "abreast" (and you can't get more seasonal than that now, can ya?)
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