Wow, two terrible days for the U.S. markets. Is there any way the government can bail out the U.S. stock markets?
I smell something..............fear rearing its ugly head yet again. Let me guess: Republicans- it's Obama's fault. Democrats- it's the Republicans fault.
This will all pass, we will all wake up tomorrow and the sun will still be shining. I can only imagine the doom and gloom forecasts on the news shows tonight.
You have aspirations of being a comedian?
I'm just absolutely sick about all this. My personal loss in the past two weeks is $45k. Years, and years, and years, and years worth of savings vanished, YET again. But I know I am not alone in this. Everyone I have talked too, is sick about their savings. My husband is 55. There will be no way that he could even think about retiring at 65. No way. He will have to work another 15 to 20 years to recoup our losses. No one should be forced to work at the age of 75. It's a terrible cycle.
I'm at a loss. I am angry. Very, very, very angry.
I wrote my Senators and congressmen. Please contact yours, and tell them how you feel. They all need to go. Obama, Roy Blunt, Claire McCaskill, they all need to go. They need to be fired! I'd be fired if I cost my boss $45k in 14 days. Wouldn't you? I usually don't write much in the political arena's. I am not the brightest person on the block when it comes to politics. I don't know what should be done, and don't even know where to begin to make a suggestion. But I do have a rock solid business mind, that's how I have been able to save and make money for my family. The fact that they don't take any expert advice, that this ceiling debt thing didn't even have to be dealt with really, not at this time anyways..., and them to make a mountain out of a mole hill with it. Devastating gridlock and inaptness, has been so destructive for millions of families all over the world, just because people cannot work with each other across the aisle. Now someone, other than 1 man needs to be held accountable.
The stock market is a house of cards of perceived wealth.The original concept was good,a company would go public and issue stock to receive revenue to expand.Now It is a joke.It can get manipulated by a behemoth trading house or huge fund on a whim now.People trading paper and you can trade a stock and not even own it,
http://money.cnn.com/2010/05/19/news/ec … /index.htm
A stock price seems to go up when the sun shines and down when it rains. In 20 years I fully don't expect my pension or Social Security to be there,that's why we need to jail them now before more extreme measures will be needed.If I rob you on the street I will go to jail,but if I steel your life savings by rigging the system you entrusted it to that's ok.
If you haven't sold yet, you haven't really lost anything. You're looking at a market in turmoil right now, but as long as you're patient and you've invested wisely you'll be fine in the long-run. The worst thing you could do right now is panic and join in on the selling. Find the companies whose stock has been battered by market hysteria despite solid foundations and invest in them. Be prepared to hold any investment for 5-10 years.
Intimate, you are not loosing if you have made no moves to sell.
If anything now is the time to go fo solid stocks, established companies that pay bigger dividends, as they are cheep to buy,
if you can get some cash up. either way, just hold, drink some java and watch the show. You need to hold your stocks for a while
Most 401k's have lost about 2000.00 overall and only on the volitale stocks not on steady gainers or bonds. your 401 k is usualy spread over many diferent risk levels, to make it safer for folks and to average out loss.
Investors like yourself are ok, just hold.
now...the day trade guys like myself and a few in here, another story, if you looking for daily profits, its a different approach.
either way, if you would consider, we are only down to 10,000+ in total trades, down from 12,000 totals and still a bit above a bear market. Just a 2-3% overall market shift. Deflating down, to match the dollar worths.
a True crash is still long away and we are not in trouble like that. DO NOT PANIC or Sell off. Buy if you can.
as for your husband, it will depend on how fast the Legislature acts to mess with Social Security. 55 and under it looks like will be affected. and Yes he will have his work years extended to probly to 68.
If it makes it any better even 65 year Olds are now being advised to work as long as health and factors surrounding them allow them to, to get the monthly SS amount up high enough before they elect to take the retirment income. So to be able to take care of themselves. no one is getting anything.
a good guide is 62 yrs, 40 qtrs....1499.00
based on 35,00 to 40,00 year salary at retirment
and last 5 most profitable years about those same amounts.
another out is remake yourselves into a cash business "NOW" while you are still at work and can affors night classes and or side hobies to learn a service trade, say- like start a locksmith mobil business for example, learn the trade, take calls from your house like a mobile car lock out service business on the side, make a reputation for yourself now, take cash and check only, no reportable income. set it up as a cash business and bond yourself.
if you do this then at 62 you can take the SS monies reguardless and work for yourself, because you are allowed to make up to 14,200 a year a peice, and IRS rules allow it until you reach 65, then it the amout you can earn becomes unlimited @ age 65.
first year you both earn 14,200 + your Social Security Income, and anything in the business you report up to 14,200 anything over do not report as it is a cash business.
They go by Income tax reports, each year , so if you have a cash business, you are legal and ok.
Social Security sees what you report to IRS , and not all cash is ever reported in any cash business.
If you can keep the energy level, and work on your health some it will assist you to keep going. Just keep it cash and non reportable.
the above is an example only, any good at home cash business ideas work!
I know several folks here in Nashville doing this very thing and are doing well, working for themselves. They started back when they had steady income, put the time in and converted to their own business.
I'm thinking that a year from now we will all be looking back at today and consider it the "The Good Old days".
Jerami, I think you are spot on! The moron has a 53% chance to 60% chance of re-election and this super pannel of debt busters they are appointing are plants to make way for a deeper progressive agenda.
There will be no deal worth anything and our banks are not allowing us to know the depth of the trouble with liquid funds. we are in trouble, and even the fed knows it saying they will hold interest until 2013.
this is the best it will be i fear.
you are spot on it I believe.
I dont gamble in the stock market because #1 I cannot afford to and #2 I cant afford to loose what money I do have.
markets...all scams...how in one's right mind could one allow another to control their hard earned money...just leave it in the hands of someone else's whimsy and opinion...middle men, all conivers
the scam is Social Security, Medicaid, Medicare. They are all on the verge of failing, yet the cowards in Congress do nothing to make it right.
The scam with Social Security, Medicaid and Medicare is that we are all forced to contribute to them through withholdings from our pay. We pay into them but congressmen do not yet they collect on it!! What the %&$# is going on and WHY are so many of my fellow Americans so complacent and just accepting of this debauchery.
Man, I hope they bailout the failing companies! That'd be awesome!
The silver I own won't lose any value, but all the dollars in my bank will!
All those stocks will go higher... but the money you get when you sell them wont' buy what they used to!
I love it when companies that can't provide what consumers want get to stay in business making more crap that people don't want!
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