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Off Topic: opinion of financial troubles...written a couple of days ago

Thanks for posting this bizi. :) It's scary stuff, but it's going to happen, we're going to need to wake up as a country and NOT buy with credit more then we truly need. :(

Yep. :(
Its scary. I've left my husband in charge of monitoring the situation because watching it stresses me out SO bad.
I feel sorry for our next president. Our financial crisis is going to be a heck of a mess to clean up.

The Subprime Primer

Hi,

Here's a funny cartoon that explains the sub prime mess.
http://docs.google.com/TeamPresent?d...&skipauth=true
warning:
1. loads slow on some computers
2. has bad language

=-=-=-=-=-=-=-=-=-=-=-=-=-=

Regarding the recession:
Suze Orman on Oprah says to pay off credit cards and get some money (cash) in plain old savings or treasure bills:
http://www.bestsyndication.com/?q=20...s_on_oprah.htm

Suze is not the only expert out there and maybe not the best, but she says things clearly.

Mari

should I take out what is left of my ira and stick it into savings?
bizi?????

She is easy to understand. I liked that article. This suggestion was a good one in my opinion:

Quote:

Orman said that cash should be in an FDIC insured bank account, treasury bill or bonds, or in a treasury money market accounts. These are the three places only. She said not to put your cash in a money market account that is not insured by FDIC. If you do have a money market account that isn’t insured, she warned those people need to get their money out and into a FDIC account right away.

Quote:

Originally Posted by bizi (Post 379749)

should I take out what is left of my ira and stick it into savings?
bizi?????

Bizi,

Do what you feel is best.

I have been told not to touch mine

The people who are hurt are the people who are already retired or who are going to retire soon.

The rest of us have time for the stock market to recover -- even if it is a few years.

Mari

I talked to myIra adviser today...they say now is the time to invest...buy stocks for low prices....when the market is down.
the stick figure cartoons were great!
bizi

I wish I understood more about the stock market and how to choose what to buy. It confuses me to no end. I just have a portion of my check go into my retirement fund; no idea what it does from there.

What are you going to be investing in bizi?

I invest with fidelity mutual funds. I just started a new freedom 2030 account....I just need to start contributing. With the market low My money would buy more shares and could grow more quickly as the economy improves. I jsut don't know when to start.
Most of the funds are invested in aggressive stocks....I was told to leave my little Ira alone it will be fine in the long run...but if someone were looking to retire soon then they would need to be more invested in secure accounts like treasury bills, bonds etc...
...this is all news to me unfortunately.... I should be better educated but am not.
I am just very happy to say that hubby and I will pay off our credit card debt in a couple of months.:)
and we have 2 car titles in our pockets as well.
student loans...that is another topic entirely.....
I know that I feel good having some cash in savings for when we need it....and because my funds are in a roth Ira and I already have paid taxes on them..it acts as a savings account, I can get the cash out with out penalties. So I like roth IRAs.
what are you going to do bobi?
bizi