[mitchntx]

Since about 30, I've been saving, scrimping and hoarding pennies, working 2 jobs, 3 sometimes, all so that I could retire at 55.

Everything ... mortgage, debt, housing amenities, shop, tools ... everything was set up on this idea that I could retire with reasonable comfort and then work as I wanted, when I needed and do what I liked.

The last year has seen that dream slowly dwindle into the reality that I will have to work at this stinking job till I'm a hundred and 55. (IMG:http://www.frrax.com/rrforum/style_emoticons/default/unsure.gif)

My job is great ... been there since March of 1982. I really like what I do. Unfortunately it comes with it's share of migraine headaches, mostly with the title of Manager attached somewhere.

I was talking with a very good friend yesterday and he made some really good sense. Might as well pull all the money from market accounts and buy a new car. The drop in value couldn't be any worse.

Oh well, just thought I'd rant a while ... kind of feeling sorry for myself. So I want all of you to feel bad, too. (IMG:http://www.frrax.com/rrforum/style_emoticons/default/drink.gif)

[NJSPEEDER]

My view of the situation is simple, unless you are with in 5 years of your retirement age, this market drop is a good thing.

Yes, it sucks in the short term and we are going to have a nice chunk of stagflation to deal with. The flip side is that the stocks you need to invest for retirement, those core companies that are not going out of business regardless of the economy, are all on sale right now. The average blue chipper is down nearly 10%, the dollar is gaining strength against the rest of the world in leaps and bounds, and every investment house on the planet is tripping over itself to get you to trade through them for less and less per transaction.

The current economy has it's downside, but it is all short term(2-3 years) With the bail out, the economy is going to be priming itself once for a big come back as soon as the banks get done buying each other(that will last another year or so).

The moral of the story, if you have a few extra pennies around, your investment strategy should be BUY BUY BUY.

-Tim

[SStrokerAce]

My view of the situation is simple, unless you are with in 5 years of your retirement age, this market drop is a good thing.

Yes, it sucks in the short term and we are going to have a nice chunk of stagflation to deal with. The flip side is that the stocks you need to invest for retirement, those core companies that are not going out of business regardless of the economy, are all on sale right now. The average blue chipper is down nearly 10%, the dollar is gaining strength against the rest of the world in leaps and bounds, and every investment house on the planet is tripping over itself to get you to trade through them for less and less per transaction.

The current economy has it's downside, but it is all short term(2-3 years) With the bail out, the economy is going to be priming itself once for a big come back as soon as the banks get done buying each other(that will last another year or so).

The moral of the story, if you have a few extra pennies around, your investment strategy should be BUY BUY BUY.

-Tim

Tim,

Good advice. You can't predict things like this and when they do happen you have to deal with it. The guys who make all the money here are the ones who buy at the bottom of fallouts like this.

Brad's investing advice = Do the OPPOSITE of everyone else.

Stocks are down = sell gold, buy stocks.
Stocks are up = sell stocks, buy gold.

Remember that old saying about buying low and selling high?

Bret