The beat goes on. Or maybe I should say the beat-down.
The Dow tumbled another 500 points yesterday. There seems to be no stopping the economy as it teeters closer and closer to the edge of the abyss.
The nation has looked on in horror as, in some cases, lifetimes of savings has disappeared in an epic collapse.
Things got even dicier this week when some commentators, including CNBC’s money guru and local guy Jim Cramer, started recommending those with short-terms needs for their money, say like in the next five years, to get out of the markets.
Can you say panic? No one was actually saying it. But a lot of people were thinking about it.
This morning the Fed reacted by ordering an emergency cut half-percent cut in a key interest rate.
Whether or not it can stop the bleeding is yet to be seen.
Most experts continue to urge caution, to recommend that if you are 10 years or more away from retirement that your best course of action is likely to do nothing.
That’s easier said than done. As anyone who has checked their 401K recently can offer clearly understand.
The Dow tumbled another 500 points yesterday. There seems to be no stopping the economy as it teeters closer and closer to the edge of the abyss.
The nation has looked on in horror as, in some cases, lifetimes of savings has disappeared in an epic collapse.
Things got even dicier this week when some commentators, including CNBC’s money guru and local guy Jim Cramer, started recommending those with short-terms needs for their money, say like in the next five years, to get out of the markets.
Can you say panic? No one was actually saying it. But a lot of people were thinking about it.
This morning the Fed reacted by ordering an emergency cut half-percent cut in a key interest rate.
Whether or not it can stop the bleeding is yet to be seen.
Most experts continue to urge caution, to recommend that if you are 10 years or more away from retirement that your best course of action is likely to do nothing.
That’s easier said than done. As anyone who has checked their 401K recently can offer clearly understand.
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