I just pulled another third of the money we have set aside for retirement from the stock market, which means that more than half of our money is now out of the market.
If Congress wants to play Russian Roulette, then I think I'd rather be further away from the blood splatter. Hey, they may miraculously arrive at a good solution, and the stock market may go up, but even if I miss it, I'm pretty sure it will settle back down because there is still plenty of bad news to come and there will be chances to get back in.
But the downside seems much bigger than the upside to me right now. At worse, I'll still have the same money I started with. No one thought they'd vote down the TARP, either, and the market crashed 700 points in one day.
So...well, that would be a buying opportunity.
If you read history, this sort of reminds me of WWI. Nobody thought the other guys would be so stupid as to escalate, until it was too late.
Like then, there are so many entanglements in the market -- Greece, and Spain and Italy, and the good old U.S. of A.
Or maybe like James Dean racing the other guy to the cliff, and the other guy's shirt gets caught and -- whooops, iiieeeeeeeeeee!!!!!!!
They say don't time the market, but I just did. Let's see what happens.
(If --as what probably will happen-- it just goes sideways, I'm still wanting to invest in less risky if lower earning investments.)
I had to ask myself what was most important about our retirement money and the answer was -- 'security' and there are just safer places than mutual funds right now.
Linda and I have always had a modest lifestyle and if we continue that way, we'll be fine if it doesn't all go down the rabbit hole.
If Congress wants to play Russian Roulette, then I think I'd rather be further away from the blood splatter. Hey, they may miraculously arrive at a good solution, and the stock market may go up, but even if I miss it, I'm pretty sure it will settle back down because there is still plenty of bad news to come and there will be chances to get back in.
But the downside seems much bigger than the upside to me right now. At worse, I'll still have the same money I started with. No one thought they'd vote down the TARP, either, and the market crashed 700 points in one day.
So...well, that would be a buying opportunity.
If you read history, this sort of reminds me of WWI. Nobody thought the other guys would be so stupid as to escalate, until it was too late.
Like then, there are so many entanglements in the market -- Greece, and Spain and Italy, and the good old U.S. of A.
Or maybe like James Dean racing the other guy to the cliff, and the other guy's shirt gets caught and -- whooops, iiieeeeeeeeeee!!!!!!!
They say don't time the market, but I just did. Let's see what happens.
(If --as what probably will happen-- it just goes sideways, I'm still wanting to invest in less risky if lower earning investments.)
I had to ask myself what was most important about our retirement money and the answer was -- 'security' and there are just safer places than mutual funds right now.
Linda and I have always had a modest lifestyle and if we continue that way, we'll be fine if it doesn't all go down the rabbit hole.