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Home » CurrentEvents

Financial advice May 23, 2013 9:38 am TB

Take it for what it’s worth. If I were a financial genius, I’d be a lot richer.

The current U.S. economic growth plan breaks down to this: “Here, take this truckload of dry leaves, pretend it’s money, and buy things with it.” The mere hint that the Fed may stop printing $85 billion a month out of thin air caused the market to drop yesterday.

Something that can’t go on forever, won’t.

- Do not dump large amounts of money into stocks right now. Buying high is always stupid, and it’s even stupider right now. If you want to hold, okay, but I’ve done some rebalancing myself this past year.

- If you are considering refinancing your house, now’s the time to do it. Don’t get greedy and try to pull a lot of cash out just because your house finally has an impressive appraisal. Keep that mortgage as low as possible.

- It’s no longer effectively possible to “save” money. CDs, savings accounts, and other old reliables are now worse than just stuffing cash into a mattress. “Like money in the bank” doesn’t mean what it used to. Ask Cyprus.

- No, you don’t have to sell everything and buy gold, but there’s damn few financial safe havens left. Choose wisely.

  • The market dropped--slightly, from its highest point in history. It's still over 15K now. by ER 2013-05-23 11:05:33
    • I've done really really well in the market, over the years. by alcaray 2013-05-23 13:40:01
      • Like I said, long term works. by TB 2013-05-23 13:46:54
        • We are near record highs, true. by alcaray 2013-05-23 14:01:09
      • Playing the market is indeed a chump's game, by TB 2013-05-23 11:27:47
        • Being debt-free is also a lot easier if you have two incomes. by ER 2013-05-23 12:25:09
          • If you have kids you need two incomes. by bowser 2013-05-23 23:14:16
            • Or no kids. by TB 2013-05-23 13:44:10
              • Freedom of Choice. n/t by ER 2013-05-23 14:01:25
                • Same here. by TB 2013-05-23 14:12:36

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