Wild Ride

[Redneck]

I always wondered why Grandpa and Grandma raised enough vegetables in 1 year to last for 7. Every year it was can can can I never seen so many quart jars. After she died we eat out of her cellar for years. Then there was butchering time. We only need one hog why are we raising two or three.

 

Well folks after todays ride It looks like the world is in a panic sell off. GM lost 31% today. It's now trading at 1950 year levels. After todays 700 pt drop on Wall Street I know one thing. I can't take much more of this. Having just bought a 4 acre camp,still owing for our vehicles, and a mortgage on my Dad's place it's not a good time to be in debt. I could have paid off the property,the mortgage,the vehicles, and every thing else with what I have already lost. Then again I haven't lost anything until I sell.I guess I'll just ride it out.I know where Grandpa's plows are but might need a team of mules to pull them.I got some lumber for a hog pen and enough property to raise chickens.

Just quit looking at your investments and pretend you don't even have them. There isn't anything you can do about it so there is no reason to worry about it. You are on a train ride if you jump off now you will get run over so just sit back and enjoy the ride. you have not lost anything unless you sell.

[cecdoo]

Just quit looking at your investments and pretend you don't even have them. There isn't anything you can do about it so there is no reason to worry about it. You are on a train ride if you jump off now you will get run over so just sit back and enjoy the ride. you have not lost anything unless you sell.

 

Yeah I feel your pain, cause I am in the same boat Froggy, but I gotta agree with what Redneck says, as long as you still have your job and can still pay your bills, and the kids are healthy, no sense worrying about the market rite now. Go out to the new camp on a nice fall nite, roast a couple hot dogs over the fire look up at the sky and just enjoy life. Craig

[FROG MAN]

Yea I know Redneck. The only thing worse would be selling and missing the rebound. There will be a rebound Right? Right? This is history in the making and were all apart of it. Sure is some selling going on. Every conversation in town over lunch is the slide. I been saving for almost 30 years. I even buried some money one time. Tried to dig it up years later and never did find it. I guess the clay bank went under.

[FROG MAN]

Hey Craig we got a copper kittle and Ramona's talking about making some apple butter. That should make me feel better.

[cecdoo]

Leave it to Romona to keep thing in perspective, Now you need to get the Warden to bake some fresh bread for the applebutter, hit Skids DQ for desert, sounds like a plan. Hang in there Gerald its gonna get better. Craig

[Redneck]

Yea I know Redneck. The only thing worse would be selling and missing the rebound. There will be a rebound Right? Right? This is history in the making and were all apart of it. Sure is some selling going on. Every conversation in town over lunch is the slide. I been saving for almost 30 years. I even buried some money one time. Tried to dig it up years later and never did find it. I guess the clay bank went under.

The way I approach situations is to asses the situation consider all possible actions take the action I think is best then forget about it and move on with life. The constant worrying over something you have no control over will cause more damage to your health and mental well being than any amount of money is worth. There are much worse thing than being broke count your blessings and go for a ride. To quote some Jamaican dude don't worry be happy.

[FROG MAN]

I can cut back and make it no problem. How do I tell MamaMo this months anniversary dinner will be hot dogs and fries?

 

I'm leaving tomorrow evening for the camp and a nice peaceful weekend. Hey Saturday is squirrel season I can pretend their my fund managers and shoot shoot shoot. Shooting something always makes me feel better.

[Redneck]

I can cut back and make it no problem. How do I tell MamaMo this months anniversary dinner will be hot dogs and fries?

 

I'm leaving tomorrow evening for the camp and a nice peaceful weekend. Hey Saturday is squirrel season I can pretend their my fund managers and shoot shoot shoot. Shooting something always makes me feel better.

Let me recommend an investment buy and read a book called how to stop worrying and start living by Dale carnegie. I guarantee it will be the best investment you have made in a long time. Ramona is a big girl she understands the anniversary is the important part and weather you eat steak or hot dogs doesn't matter.

[hipshot]

i sure am glad, that i have been a "poor working stiff", all my life! i have NEVER had to worry about WHERE my money is, HOW much interest my money ain't accruing, Who is going to take care of my investments, or HOW my money is being spent.

if i get any flack, from collectors, i just tell them to back off, "or i won't even put your name in the hat next month".

just jt:backinmyday::rasberry::rasberry::crackup:

[Redneck]

i sure am glad, that i have been a "poor working stiff", all my life! i have NEVER had to worry about WHERE my money is, HOW much interest my money ain't accruing, Who is going to take care of my investments, or HOW my money is being spent.

if i get any flack, from collectors, i just tell them to back off, "or i won't even put your name in the hat next month".

just jt:backinmyday::rasberry::rasberry::crackup:

Some people have all the luck.

[cmiles3]

Only 2 things to worry about; what's the price the day you sell, and will it stay in business if I don't sell.

 

Unless you need the money today, don't sell. If you need it, only sell enough to get by. The shares you keep today will be your income when the market rebounds. 6 months? 2 years? Most of the time, it's not longer than that. This time? Remember, for prices to drop, someone's selling and someone's buying. Who gets the best deal when prices are down? Not the seller.

 

If you're in something that will close it's doors soon, you need to consult an expert. I don't think there's any here; at least none that said so.

 

If you have some cash laying around, and know enough about businesses that can weather down spells and come back strong, now's the time to get in. Some of the businesses are quite a bargain, going back a long time. Warren Buffett bought a lot of GE, an old standby in most retirement plans. Old Warren's pretty smart; he's been sitting on the sidelines for a year or three.

 

Annuity plans have their place, but the time to think about it is when you retire. With an annuity, you let someone else play the market with your savings, then skim off the cream and give you lowfat. The typical return is 1/2 or 1/3 what you can expect in a good index fund. And during the lean times, it's much worse- the expenses may be more than the return. Not the place to build retirement savings, but maybe a place to protect them when it's time to retire. Be careful if you're considering this; some of the agents are worse than the CEO's that got us where we are today. And some of the insurance companies might be next on the AIG hit list.

 

My opinions, for what it's worth- remember, it's free.

[az1103]

I have been in insurance business many years, and I have never had so many phone calls

from customers wanting to move their 401's to SAFE SECURE FIXED Interest Paying

 

 

ANNUITIES.

Dont let the big dollar mutual fund sellers lose your investments, they will always tell

people to let it ride, or maybe move it to a slower losing fund, right now the smart

safe choice is a Good Annuity,

good luck

 

E Zornes

Mutual Of Omaha

 

Can you expound on that a bit? I am curious, arent annuities uninsured? I have a relatively small one I started with American Express years ago. Then they merged with someone and then passed it onto some Life Ins outfit called River Source. Anyhow, I don't ever remember seeing that there was any insurance on it? Or are annuities protected in some other way?