Any tips you guys can offer?
Chips keep the political jabs in the politics area. We have plenty of threads there to discuss the elections. I am editing your post so I dont have to delete it.
Last week was the week to pump your 401K as well, although the next 3-5 months should continue to be excelent 401K padding months as long as you have 5 or more years before you need it. Just like gambling, do not invest more than you can afford to lose.
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Thank you ole wise ones ” title=”” class=”bbcode_smiley” /> I was wondering if I should jump on the wagon as well, was looking into what Cowboy suggested on the gold but am leaning towards waiting a bit on that. The biggest thing I think is if your in debt with credit cards pay that stuff off asap, don’t let that intrest build up, I hate credit cards and they hate me cos I pay them right off ” title=”” class=”bbcode_smiley” />
Interesting you mention that… Was reading this article earlier:
The Next Meltdown: Credit-Card Debt
On the other hand, these events are unprecedented — who knows how long it will take for the market to get back to where it was….
@bonustreak 180785 wrote:
The biggest thing I think is if your in debt with credit cards pay that stuff off asap, don’t let that intrest build up, I hate credit cards and they hate me cos I pay them right off ” title=”” class=”bbcode_smiley” />
Yep, some cards have insane interest rates. I use my card as much as possible because I get 1% back on all of my purchases (and 3% back on all gas purchases), but I pay it off every month. Visa hates me.
My money is staying in cash and cash related products.
I’ve been in cash for 9 months …
Mind you that’s easier to do confidently down here – when call accounts are running at 8% interest – and the local govenrment has just announced a limitless guarantee on local bank deposits.
We’re still earning well in business – so we are looking to protect wealth rather than speculate on a share market that is only slightly better than a roulette wheel.
Having said that – some stocks are looking damn cheap on historic fundamentals – but then again this is a new world with new credit rules – and it would not surprise me if in the next 6-9 months we see a mass of downgraded earning reports either – meaning share prices of poor performing companies have room to drop more.
Be careful out there guys n gals – don’t succumb to fear – and don’t fall for greed.
The virtual nationalization of the banks in Europe was a relief for a global disaster, but the bills of the party are still there.
IMO, the real economy will be badly affected many years and the big question is about the future for real estate, manufacturing, commodities, impo/expo etc.
Japan was in recession from 1991/2001 after a similar crash.
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