Quote:
Originally Posted by Palumbo
Sorry if this sounds like a stupid question, but:
What does all this mean for me and the money I have in 401K plans, IRA, Roth IRA, also have money in the bank in a basic savings account? I was thinking of putting some of it in a money maket so I can have access to it.
With the financial "storm" coming, is there a safe place to keep money? Should I be concerned at all? Should I just keep adding money and ride things out?
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The key question is who holds your investments and do you read their quarterly reports, know the resumes of the managers, agree with their investment strategy, etc.? Look squarely at any risk associated with your funds.
Then, where are you in the arc of investment...just married, older, empty nester?
Diversify...sounds easy but requires a great deal of thought. Every two years my wife and I sit down and review our financial goals and adjust. We will have an ad hoc meeting of the minds this weekend and move out accordingly.
My advice...you'll never know more about the market than the market players, but they'll never know more about you than, well, you. Know your financials better than they do, including
your portfolio desires.
The basics of sound financial investing are as easy as the ABC's...
