Now, I am really worried. The Dow fell below 9,000 points today. That is bad. Really bad. I don't dare log-on to look at our brokerage account, our retirement accounts, and Tyler's college fund.
I knew that the economy was bad. Yet I was trying to heed the consolation that I used to give my clients when I was a Registered Representative, "If you're in the market as a long term investor try not to let dips in the market dissuade you. Over time, the market will correct itself and it is likely (not guaranteed) that the value of your account will recoup itself and even go up." I drank that Cool-aid. Those were the days when the market would go down a bit here and there. The occasional 200 point dip still wasn't that bad. Remember, there was a lot of optimism in that Cool-aid. Heck, the market even recovered (kind of) from 9/11.
My heart wants to sell everything and go solely into money market. This is the true test of Cool-aid. Will I believe what I used to tell my clients? We have not seen times like these. These times are unique.
Or do I do the opposite and invest more into the market?! That's really what I should do but I simply don't have the nerve. I'm not a big risk taker! I truly think that everything will be okay with our economy but it will take several years.
7 years ago
2 comments:
While I'm no economist, they are saying that it hasn't been this low in 5 years. 5 years really isn't that long. So it was this way in 2003? We survived that, so I'm sure it will turn back around this time too. Hopefully those won't become famous last words ;)
Meg, I think the dip in the market is pretty bad because of what else is going on in the economy. I guess I freak out more than the average person because I hear about it so much. (That is what Rick does all day, deal with the market.) I hope you're right. :-)
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