Quote:
Originally Posted by aimeecc
I didn't see any threads on it, but maybe I'm blind.
So, in a nutshell, Bear Stearns went for a pittance, the market continues to plummet, loans are getting harder to get...
I have a secure job. I have savings. But I'm worried. We have some $ in mutual funds that are declining, so we are thinking of pulling it all out before its worth nothing. Better to pull out now and loose $300 than to hope it will recover and loose even more.
I can't even find a decent CD offering more than 3%.
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There are people here who are finance experts, I am not one of them but I do invest and understand the market and how it works. No offense but you would be a fool to pull out and cash in any investments at this time. The only people who loose out are those that cash out when the market plumets. History tells us that it will come back up no matter how low it goes. Just relax and don't panic. If you have a regular investment withdrawl each month let it go and do what it is supose to do, buy more when the market is down so when it comes back up you will gain. Hang in there. The people who need to worry are the ones who have to withdraw money to survive, ie. fixed income retirement accounts, or those who were planning on retiring this year, or needed to withdraw (with a plan of action) this year and were planning on using the options to do something specific. I may be wrong but do nothing at this point.