I Want To Stick My Head in an Oven
Last year, my brother and Dad convinced me that I was an idiot to be keeping what meager savings I had in a Bank CD. I took their advice and threw it all in one of those Vanguard Index Funds that tracks the S & P 500. I am by no means a sophisticated investor, and I know I am supposed to be focusing on the long term benefits of what I am doing, but I am getting bitch slapped every day and its making me even more nervous and edgy that usual.
I'm told that the best time time to invest is when the market is slumping, but when its your money that's dwindling away at light speed, its hard to be so forward thinking.
On a completely unrelated note, go catch "No Country For Old Men." I think its my favorite movie I've seen all year. Although "Michael Clayton," and "Enchanted," are pretty goddamned good, too.
posted by Omar at 8:27 PM
6 Comments:
Yikes. Well, lesson learned: your financial goals are supposed to dictate asset allocation, not the other way around.
11:42 PM
"No Country for Old Men" is great...we are planning on seeing "There Will Be Blood" Saturday. I'm kinda expecting great things.
2:45 PM
Do not take money out that account and freak out. But then it really depends what your "savings" supposed to be for, right? If it's retirement you're fine, if it's downpayment on a house... hmmm.
Also, much love to Warren Buffet. Those shares of Berkshire Hathaway I've been holding forever keep pretty calm or even go up in defiance of the market.
3:39 PM
Warren Buffet?
10:13 AM
The points you all raised are all ones my Dad keeps bringing up when I call him to bitch about all of this...I know the focus is supposed to be on retirement, and I should chill the fuck out, but I always have this somewhat irrational fear of being jobless and out on the street at any given moment. In that unlikely circumstance, said cash would come in handy.
I also heard one of Warren Buffet's mantras is that he gets very happy when the market is down and rushes to invest, and very depressed when it goes up. I'm not skilled enough to know why this is the case, but it makes me feel somewhat better.
I'm actually seeing "There Will Be Blood," tonight. I've heard the first 20-25 minutes have no dialogue. I'm stoked.
2:14 PM
Well, it's like the housing market -- it's a great time to buy in if you're a responsible adult and you have the means, because "buying low" is the whole point. Financial stocks, in particular, might be a particularly good bet if you're looking to hold for a really long time.
I can't recommend online savings accounts, like ING Direct or EmigrantDirect (which I use) enough -- FDIC insured and yielding (post-crash) 4.55% APY.
5:49 PM
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