You oughtta see the one I'm with now, homie. :yelwink2: Makes my ex-wifey look like a bag of hammers.
I have a lot into property but all of it is paid off. That is the key . . . pay it off quickly and be done with it. Lots less money wasted on interest. Then you can make a profit and watch the values go up slowly. I am going to either remodel my house or upgrade soon and I will pay off the mortgage within 10 years, probably within 5. I bought a very small house and lived frugally when my friends were buying mini-mansions that they lost their asses on. I have a lot in the market and the market is impossible to time. Traditionally people who are in the market for the long haul have made money. We must believe this or we should put our money somewhere else. Money in cash is losing you money, rates are so far below inflation. I've got less than 10% in cash, most of my money is in the game. Diversity is the key to keep from taking a huge bath in a drop. I'm way diversified in the market and I have a reasonable amount of non-market securities like gold and precious metals funds and REITS. Being 55, I also have more bonds than before, which are less volatile, and annuities which offer some guaranteed payouts. And I never invest on margin. I like living with low to no debts and am careful not to bite off more than I can chew.
DJIA Index Chart Well, there goes my kids' Freedom 529 accounts. Guess they're headed the JUCO route.
Anybody who thought that the recent Tea Party debt ceiling crisis would not affect the market . . . wuz wrong.
I think the Tea Party had little effect on the market. The numbers that are showing up, have more of an effect. Numbers with GDP, unemployment rate, CPI, retail sales, etc. The other big thing is Consumer Confidence, many just don't have faith in where this country is going. Every small business owner I talk with is being hit hard. All I've talked with have cut back, maybe the Gov. should do the same?
