Small Business Boomers

It’s a Friday and it’s October.  And the market seems to be following historical precedent:
I just heard that foreign trading seems to be in a panic mode, and Dow Futures (pre-opening trading) on the NYSE was so low it was halted to stop the slide.  It’s called “limit down.” Remember what I said about “FALL.”
We have nothing to do but hang on.  I am NOT looking at our 401(k) portfolio today.  No matter what.  It’s only a paper loss, we don’t desperately need the money right now, so we will wait until things improve.  And they always do.
If the weather …read more

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I know it’s scary.  I looked at my 401(k) over the weekend.  But the loss is only on paper unless you fix that loss by selling.  I don’t need the money.
If you feel you MUST take out money, call a financial advisor.  If you don’t have a financial advisor, this might be the time to get one.  Look for someone who will really listen to what you want and who will give you options.  If someone says, “I have the answers; listen to me,” Don’t.
If your finger is waivering over the “sell” button, you can call AARP’s financial “hot line” …read more

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Lawmakers just announced the settlement of the $700 billion financial bailout, after much discussion. Whew! I for one am relieved.
The bailout does include limits on pay of executives. Most of us would agree with that, except for those execs, that it. And the legislation contains measures to help prevent home foreclosures.
Now all we have to do is keep consumer confidence up, which won’t be easy. I spent some time reviewing my 401(k)s and IRAs, and they are, of course, down. But I’m biding my time. I suggest you do …read more

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