Are you taking a vacation from this mess or taking action?, I want to know what you're doing -- weigh in here Options

[CarmenWongUlrich]

Hey everyone,

I'm wondering: Does all the market turmoil make you want to take a vacation from the news, or are you taking action? And if so, what are you doing?

I want to know what you're all thinking! Weigh in here and I'll be back to answer any questions you might have. Let's get the discussion going.

-Carmen

[VetteBlade]

Watching all of this happen can become very depressing. Never let it get to you down. At times it might feel like this country is headed towards the Grand Canyon with the breaks off... but we never do. We have ways to correct our steering and continue on. Sometimes we have to cut-out the cancer and write things off but we pull together and get through it. We normally learn from our history so we're not doomed to repeat it.

Take a break people. Get out side with the family, take a walk.... stop and smell the roses. Remember the Desiderata poem and first sentence of the The Serenity Prayer. All this mess will still be around when you return.

Vacation? I'm headed to Las Vegas this weekend for a week of fun and relaxation (using my entertainment budget). Don't plan to turn on the TV for the entire week.

Be grateful for what you've got.

[paracliff]

I feel like I should take some action but don't know which way to go. Just going to keep investing in the same old thing I guess (Roth and 457).
Alot of people I work with are moving into guaranteed funds though.

[WebRNDebbie]

[font="Georgia"][/font][size="3"][/size]Hi Carmen,

First of all LOVE your show! I watch every night.

I almost called last night - but didn't get through on the first try so here I am.

I have been really nervous about AIG Valic (my retirement $$ is there). Last night's show did ease the fear some. I wonder though, are there any circumstances where we could lose our retirement $$ from a company like AIG Valic? Is it at all possible?

I am not really taking a break from all of this, I'm very interested in the financial events. However, it does make for a depressing day :-)

Thanks!
WebRNDebbie

[Chandu32]

Hey everyone,

I'm wondering: Does all the market turmoil make you want to take a vacation from the news, or are you taking action? And if so, what are you doing?

I want to know what you're all thinking! Weigh in here and I'll be back to answer any questions you might have. Let's get the discussion going.

-Carmen

I don't listen to the financial news that much either in good times or bad, it's just a lot of hype. I can tell it's hype because for the US Markets they always give the movements in points, rather than percentages like they do for all the foreign markets.

Every one likes a sale except when it comes to the stock market. I purchased some new ETFs this week and added to my current position in another stock that I have.

Love your show, lots of good advice.

[acktorelax]

Hey everyone,

I'm wondering: Does all the market turmoil make you want to take a vacation from the news, or are you taking action? And if so, what are you doing?

I want to know what you're all thinking! Weigh in here and I'll be back to answer any questions you might have. Let's get the discussion going.

-Carmen

People should start protecting themself with gold

[aude]

[/size][/color][size="6"][color="#800080"]

Hey everyone,

I'm wondering: Does all the market turmoil make you want to take a vacation from the news, or are you taking action? And if so, what are you doing?

I want to know what you're all thinking! Weigh in here and I'll be back to answer any questions you might have. Let's get the discussion going.

-Carmen

[whatmeworry69]

I watch all this with interest ... but just because I AM interested! I'm 62, retired, and have my retirement well deversified in stocks, mutual funds, cash (CD's and Money Market). I don't have more than the insured amount with any institution. I have a monthly pension. I'm soon going to get SS. I have a 401k still intact from previous employer ... 100% in insurance contracts at 5% +. I switched to this choice in 401k last Dec, and have avoided huge losses in the account! I have been an active investor since I was in high school (thanks, grandad!), and I feel good about my investments. I have a plan for income for my wife and me that will only pull roughly 3% to 3 1/2% of my investments each year. By doing this, I maintain ... and even grow ... the principle in the event of a "worst case" scenario! If the markets follow history, my kids and grandchildren will reap the benefits.

So... no vacation for me. Life is a vacation!!!

[4wheelin]

Carmen, I like your show. It helps the real people to understand where to invest there money!

Comment: With the market falling over 500 and 400 pointsthe other day! My question is on CD Investments. Most of my savings are going into CD's. I'm looking into one more CD @ rate 5.30%, apy 5.44% for 10 yrs providing if I put down 25k down. And my savings will be let with 5k. Should I go ahead and invest my 25k?
One CD for 10k @ 5.19/5.32% apy (7yrs)
One CD for 10k @ 6.07/6.25% apy (5yrs)
I have 3 open credit cards with only one of them carrying a balance of 1500. No car payment.
Thanks
ED

[aude]

My husband is just not looking at our portfolio, playing the lottery a little more, and taking extra side jobs. We have everything in the market that we inherited for our retirement. We were hoping to buy a home. Instead we have Freddie Mac and Fannie Mae stocks in our funds. Is it a dumb question to ask if these will ever come back up, no one ever talks about the stock holders future in them. Please answer if you can.

[Jbgmom]

Hi Carmen, You are wonderful...I really enjoy your show! I am about 5 years away
from retirement; and I go through periods where I am in different funds through our SIP or I panic and have it all in our Stable Value Fund. Against a relatives advice on Monday, I jumped in (everything at that time was in my SVF...and I was at my highest $$$) and put 1/3 in different mutual funds in our plan. Well I made money since the market went up on Tuesday, and then yesterday I bought more when it dropped. I didn't get too upset when I lost from what I put in on Monday especially since last night all of the shows were not being very positive about the future of the market. You did say on Monday night that now was the time to get the bargains....no other show was saying that! I just kept thinking that it was up over 14000 and by the time I retire, it has to get back up there. I go through times like this where I become obsessed with my SIP!!! Yesterday, I had to make my boss get off of his computer so I could do my fund transfer by 3 p.m. (our cutoff time for the day). Anyway, thanks for all of your advice! You are just so cute!

[golf99]

Hey everyone,

I'm wondering: Does all the market turmoil make you want to take a vacation from the news, or are you taking action? And if so, what are you doing?

I want to know what you're all thinking! Weigh in here and I'll be back to answer any questions you might have. Let's get the discussion going.

-Carmen

[golf99]

Hi Carmen! I have taken several actions recently with this latest money turmoil times. Paid off one auto loan and am doubling my pymts on the only other debt I have - a second auto loan for my spouse. I have called my insurance planner to ask questions regarding what fees I am paying and why. I am still concerned with my cash value amounts not being insured on that policy, so I am considering taking that and putting it in a mma. I plan to open a new acct with a second bank and transferring some money into a mma there to give me the comfort of knowing that if my main bank has trouble, I have enough for a couple of months expenses in the other bank and can access that immediately. These actions and others have evolved from my watching your wonderful show and prompting me to get more involved in managing my funds. Thank you for your help!
Nancy

[tim1tim2]

Hey everyone,

I'm wondering: Does all the market turmoil make you want to take a vacation from the news, or are you taking action? And if so, what are you doing?

I want to know what you're all thinking! Weigh in here and I'll be back to answer any questions you might have. Let's get the discussion going.

-Carmen

I am a small investor, most of my holdings are small and micro cap stocks, and I use Sharebuilder as a broker. Due to a technical problem with there clearing house I was unable to trade in one of my stocks this morning. The rep who I spoke to this morning before market open assured me I would be able to trade at the open (I was aware of the problem yesterday which is why I called).
Well the market opened and I was unable to trade, so I called the brokerage again, and after being on hold for a combined 30-45 minutes (All my transactions are done online, but the website kept crashing, so I had to use a phone), the trade specialist told me the problem was with there clearing house (Pershing). Having suffered a large paper loss from this problem ( +20% while I was on the phone to -16%, check the charts!!), is my broker liable? They say they're not, and they even said it would not be legal for them to make up my trading losses, even though there clearing house was at fault. Is this true? Is this a widespread problem?(My broker said it was)
Thanks for your help

[adam007]

Taking a holiday... you mean like ignorance is bliss. No thanks, I'd rather keep my ear to the ground rather than being runover by this train wreck.

I've been gradually moving my 401k funds out of stocks over the last 6 months ... and thankfully so. When the market begins to function again I'll gradually reverse this process.

[MARYLAND_CPA]

Hey everyone,

I'm wondering: Does all the market turmoil make you want to take a vacation from the news, or are you taking action? And if so, what are you doing?

I want to know what you're all thinking! Weigh in here and I'll be back to answer any questions you might have. Let's get the discussion going.

-Carmen

My philosophy for now is wait and see. I monitor my bank accounts and my home value (I have about 50% equity in my home) and I will be checking my credit limits to see if they've been lowered. I continue to contribute to my retirement accounts and I watch my spending very closely and keep it to the minimum. But I don't look at my 401(k) nor have I sold any of my investments. I was tempted to move into money markets but then I would miss the upswing when the market recovers.

Lastly I keep my ear to the ground regarding the financial stability of my employer and I keep my resume updated, just in case. All it takes is a few customers not to pay my employer and suddenly my job could be in jeopardy.

[alabamagirl1]

I am doing my best not to panic and pull out my 16,000 in a deferred compensation account. I don't NEED it but I don't want to lose it either.

I am on a fixed income (retired) and may consider part time employment if grocery prices continue to go up.

Watching the economic news fills me with bitterness - I've paid off my modest home and now it looks like people who moved into McMansion they can't afford will get bailed out with MY money.

I love your show!

Debbie

[FreeHomeRefi.Com]

The question was posed "are you taking action" and the answer is yes. We formed our company 4 years ago but finally launched our idea in Jan of this year. Our idea is simple we go to bank/lenders and provide them with quality candidates for any type of refinance or new home purchase, and in exchange for the Quality candidate the partners have to agree to waive all of there junk fees to get the business. The concept is nothing new in the lending world as in the past lenders would do a no cost loan but would just off set the costs by raising the rate. That is far from our concept we actually require that our partners reduce there margins/waive there fees in exchange for individuals who have a history of good credit and pay on time. With good loans banks can borrower against them to lend more money; which surprisingly was very easy to sell to the banks. So again the question are we taking action, the answer absolutely our goal is to save Americans $$$$'s of dollars on there loans which means they have more money to spend on goods which helps the economy.

[SHunter]

Hey everyone,

I'm wondering: Does all the market turmoil make you want to take a vacation from the news, or are you taking action? And if so, what are you doing?

I want to know what you're all thinking! Weigh in here and I'll be back to answer any questions you might have. Let's get the discussion going.

-Carmen

I am taking action.

Since I have more than 20 years until I retire, I am increasing the amount I contribute in the marketing. Also, I made some moves to make my portfolio more diversified.

[THEDUTCHMAN]

[font="Comic Sans MS"][/font]

Hey everyone,

I'm wondering: Does all the market turmoil make you want to take a vacation from the news, or are you taking action? And if so, what are you doing?

I want to know what you're all thinking! Weigh in here and I'll be back to answer any questions you might have. Let's get the discussion going.

-Carmen

[color="#0000FF"][/color]I don't know what to do, hoping someone could give me advice. Retired, and have lost 1/3RD of portfoilo in days that took years to save. I keep saying to myself, "haven't lost till I sell ", I have enough cash to pay myself for 4 years, but I get sick over watching the rest of it good away hourly. only have 180,000 left to live on the rest of my life, and only 62 now, so that could be a long time.....What to do ? ?I don't know what to do, hoping someone would give me advice. Retired and have lost 1/3 of investments in days that took years to save for. I keep saying to self " haven't lost till I sell. only 62 and not much left to live on...what to do ?