Well Wall Street sure has been having its share of troubles lately! I heard someone explain that there are two emotions that drive Wall Street - greed and panic. We’ve been seeing a lot of that lately - in the extreme! I own stock in several companies, and I’ve been careful to NOT see how their stock is doing. In times like these I think it is best to NOT look. When I bought the stock, it was with the intention of holding onto it until I am old enough to retire. Hopefully by the time that comes around, the stock market will have settled down and I will have made a little bit of a profit. The best advice I’ve ever heard anyone give about the stock market (besides buy low and sell high) is to never invest money in the stock market that you can’t afford to lose.
October 15th 2008
I have my 401K plan in a lot of stock. I’ve been afraid to look at the value of it right now! I’m hoping that the stock market will rebound by the time I NEED the 401K plan money!