Yikes! The Dow Just Dropped Below 10,000

[JackieB]

I think the young forumers will be retiring before me, now. :D:D: Oh well, with all of these great horse friends, who needs money anyway, right?

Better get to work!

[Equine_Woman]

Oh no!!!! Lol. I've been watching my stock and it just makes me sad!!! I just keep hoping it's going to have a huge gain over the next few years and regain it's former value. . and all this stock I'm buying now at a lower price will go up with it. . ..

[JackieB]

I'm sure you will be fine. You're young and probably aren't looking at accessing that money for 30 years. Overall, my 401(k) and IRA have done very well. I absolutely cannot complain. However, we do need to get at our retirement savings in about 10 years, so it's a little more of an issue for us. But, we've always been conservative investors, so we aren't getting hit nearly as hard as many others.

[Equine_Woman]

Well that's good that you invested conservatively!!! We have ours set to switch to a lower risk when we get older but for now it's all in moderate to high!! I guess I'd be worrying more if I were a little older. Of course who knows what will happen tomorrow!!! Yikes!

[Diane of Buck's Hollow]

I'm sure you will be fine. You're young and probably aren't looking at accessing that money for 30 years. Overall, my 401(k) and IRA have done very well. I absolutely cannot complain. However, we do need to get at our retirement savings in about 10 years, so it's a little more of an issue for us. But, we've always been conservative investors, so we aren't getting hit nearly as hard as many others.

We are very concerned, JackieB. Sunday's Man and I should be retiring in about 4 years.

[Little Bit]

The only stock I have is "livestock"...and that isn't doing so hot at the moment either! It seems like there is no more "Golden Years" and soon there will be no such thing as "Retirement" either the way this country is going!

[mtnmollie]

I got my hay in for the year. Maybe next year I will have to cut my herd? Dunno.
When storms hit Kansas, yah get in the basement right? Tighten yer belt hunker down, eat less?

[Ranger44]

We are very concerned, JackieB. Sunday's Man and I should be retiring in about 4 years.

I'm with you guys. I am supposed to retire in just under 5 years! If I had more invested I would be more worried. My wife is young enough that she will be working for quite some time after I retire unless we hit the jackpot or find some rich old relative in the meantime.

I'll probably be retiring form my current job because that is the way it is set up and then have to work at a new job that pays a lot less to make up the difference from my pension.

[Sundays Man]

4 years!!!! Diane, I was thinking more like 2 or 3. LOL.

[Sundays Man]

I think the young forumers will be retiring before me, now. :D:D: Oh well, with all of these great horse friends, who needs money anyway, right?

Better get to work!

JackieB!! The last time you and I talked you were diving at the Great Barrier Reef off your 300 foot row boat or something.

[JackieB]

Oh, that's right! How could I possibly have forgotten that I'm actually filthy rich from winning frivolous, ahem, I mean meritorious, lawsuits against individuals such as you who withhold necessary luxuries, ahem, I mean necessities, from your animals. :)

Seriously, I hope this economic crisis doesn't goof up you and Diane. I'm sure that you have worked diligently for your entire lives.

I'm honestly not too worried myself. I'll be 48 here in a few days and was kind of hoping that by 55, we'd be set if we wished to call it a career. I think 59 1/2 or early 60's is probably going to be more like it, but I'll be sure to enjoy the work and don't want to wish time away anyway.

[Country Girl 43]

I usually buy bonds! The stock market scares me. At least I know my bonds won't loose value. Only the interest it gets will go down for awhile.

[trainer101]

Oh yeah we were just talking about this the other night. My husband is wondering if he should pull his investments out or just what we should do. Matter of fact I'm not sure how much longer I am going to have internet. We are thinking of getting rid of the few luxuries we have, internet, cable, camper, and perhaps a couple more cows. I know the rest of the country is bad but round here its down right scary!!!

[HoustonFarrier]

So we're told, if we don't do the bail out, our market will tank, and bring down the world markets as well. so, we pass the "give-away"....and what happens, the world markets AND ours tank the following week. As if that is not enough, they put 2 Goldman-Sachs former exec to run the bail out.....kinda like having the foxes monitor the hen house.

Government is NEVER the answer.....NEVER. If you let the free market run as it will, these things will work out better on their own. sure, some will lose money...but now ALL of us have lost money, except, of course, former Goldman-Sachs execs....

Steve

[JackieB]

Suzy Orman gives good advice at all times, but during this difficult time too. You might want to look her up on the Internet, trainer101.

We're not moving anything ourselves because that will turn paper losses into real losses. We have at least 10 years before we need the money and that should be long enough. We have decided that when the market goes back up again and is in a strong growth period that we will probably make adjustments to our portfolio so that it's even more conservative so that we will be even better insulated against a future downturn.

[Miracle Whip]

I just saw this on msn on my way to log in here. My husband and I are unemployed so we don't even GET to contribute to any retirement plans! I have been trying to save 2% of my pay in just a savings account but I betcha we will be hitting that even.

My husband has a felony (assault) charge on his record from 1997. He tried to get that taken off his record today and they said we'd have to get a lawyer to help us...that the judge had no jurisdiction or something...its really a pain because EVERYONE is doing extensive background checks now.

[mtnmollie]

If our problem is we spent too much government money- (huge national debt? )

we could spend more.

Give it to the fox- like Steve said. LOL> :D

[Horserider]

http://www.bloomberg.com/apps/news?pid=20601103&sid=axqsnPhonfm8&refer=us

Scary I'm just waiting for the Second Great Depression.

[WashingtonBay]

Hey Horserider... I hope you don't mind - I merged your thread with JackieB's that was posted earlier. I am looking for opportunities to learn what some of these buttons do! :)

[quest]

Stocks have been teetering bad lately, I feel thankful that through the crisis I know I have a place for my horses and me, and it's already paid for. Just hoping it won't crash! Then again, atleast my job is at a ranch/farm... they make food :)

[shynbvs]

its sad what we have come to, we are a rich country in so many ways, why did the people who had money dig such a deep whole the needed a "bailout" when all of the regular class people are getting the largest hit from there actions. Thats what i can understand from this whole thing.