Some Advise...Don't Look at your Money Funds
 

I sure wish I hadn't have looked....:shocked::(:cus:

I know - I finally got up the courage to look today and we are down what we planned to use for several years. Luckily (or not) I am still working although my original plan was to retire 11/30/2008. It doesn't look like that will happen.

Not as bad as I thought. I will need to a more detailed look tomorrow. I read or saw somewhere that the DOW when back up 400 points today.

It goes up and it goes down - - - - , and it goes up and it goes down - - - -

Wall Street and the brokers make money from sales commissions, the more ups and downs the more commissions.

Best to spread the risk and not to look until Jan 1 each year and compare year to year. Some years it goes up and some years it goes down. Over the long run the average goes up -


Wish I didn't sell Exxon two years ago
Wish I had dumped Sirius Radio two years ago


.

We are in the same boat - recently told my boss I would stick around for at least another year if he was willing to put up with me. The next day he asked me to update my resume so he could send it to a potential customer on a 6 year job!

With us this is more a housing issue - need to sell our house and not give it away.



.

We are right there with you Chuckinca. I am afraid to let go of a really good job for fear of losing a large chunk of our retirement income one way or another. We have a financial advisor who says the old line - we are in this for the long haul - but I don't want to be dead by the time the haul comes in. We saved our whole working careers for this time of our lives and I am watching a large chunk of it disappear. It is scary.

Class action suit for money fund loss
 

Does anyone know about a class action suit against a major brokerage, to recoup losses from money funds? I don't know if it's ok to post the info here, but everyone should watch their money funds every day and google the symbol along with the words class action.

My advisor called today to see how I was doing.....I said its a good thing I live in a rancher and don't own a gun. LOL....Just kidding.

But one thing is for sure...after this I will NEVER vote for someone who wants to privatize Social Security. I never trusted Wall Street and now I really think they are crooks and liars.