Comments on: how to make millions, now

By: Another Economic Stimulus Package, Tip’d, and More!

Another Economic Stimulus Package, Tip’d, and More! — Mon, 03 Nov 2008 21:30:05 +0000

[...] How to make millions, now [...]

By: Tom - Recession Proof Jobs

Tom - Recession Proof Jobs — Tue, 14 Oct 2008 16:50:15 +0000

I am thinking the same. Looks like a great chance to start to build a solid portfolio of blue chip stocks!

By: Tom - Recession Proof Jobs

Tom - Recession Proof Jobs — Tue, 14 Oct 2008 09:50:15 +0000

I am thinking the same. Looks like a great chance to start to build a solid portfolio of blue chip stocks!

By: deepali

deepali — Sun, 12 Oct 2008 00:05:47 +0000

i worry about my parents, and i worry about people with little room for flexibility. but i'm not worried for myself.

By: Chad @ Sentient Money

Chad @ Sentient Money — Sat, 11 Oct 2008 02:25:14 +0000

No time is ever different. It's tough for us to measure, when we think 5 years is a long time, but everything that will ever happen has already happened in history. It might not be exact, but can be similar. Bad decisions on mortgage loans isn't the end. A meteor the size of Argentina…maybe.

By: Brett

Brett — Sat, 11 Oct 2008 01:32:37 +0000

I bought lunch today near a mall and the restaurant was packed, so the economy is still moving. However, people are not buying cars (and likely other large purchases) which does have an impact on the economy.

I am glad to see a few people who agree with me. Someone at work was talking about hording cash rather than holding or buying more stocks now. I said about the same thing that you (and other commenters) are mentioning — if stocks drop to worthless we are not going to be worried about cash, investments, or even the value of your home. We will be worried about what to eat and wishing that we already the spent cash, while it was still worth something, on ammunition. Unless you think that is the likely scenario, now may be a brilliant time to invest as long as you have a long term time frame.

To optimism! I think that this is an over correction. But you might want to buy a few spare bullets just in case

I am starting to wonder if a large number of pundits muttering “This time it is different” is a leading indicator of any market downturn. Think of the recent tech, housing, and oil markets. Maybe they were not so different.

By: bubelah

bubelah — Fri, 10 Oct 2008 17:31:22 +0000

I just sold one of my very profitable Chinese stocks while I still had some gains. I plan to have cash in hand and be ready to invest again.
Reading and listening to the news can really make everything look so desperate, you just have to take it with grain of salt or not at all.

By: Curmudgeon

Curmudgeon — Fri, 10 Oct 2008 16:55:31 +0000

I don't live in California, Florida, Nevada, Michigan, Ohio, or NYC. I don't work in financial services, transportation, or housing. My friends and I are aware that there are people out there who are in some financial straits, but we don't see much if any impact on our daily lives. Rush hour traffic is still painful, and the malls are still crowded. From that standpoint, it's problematic to say that there is a recession, let alone a major one. I suppose that your outlook on this depends on your own circumstances.

By: Mrs. Common Cents

Mrs. Common Cents — Fri, 10 Oct 2008 16:53:08 +0000

I have taken on an ostrich-like quality lately – avoiding the news, taking value in what we have, looking on the bright side, etc. There is a lot of comfort in the simple things in life – valuing what we have that is immaterial. There is also a lot of comfort in history – nearly all recessions have rebounded within 6 months to a year – I'm hanging my hat on the fact that I have 30+ years to retirement, and I can wait this one out. (fingers crossed)

By: asithi

asithi — Fri, 10 Oct 2008 12:53:55 +0000

I am mildly concern, but not enough to stop me from continuing our contributions to our 401k. As a matter of fact, we are going to increase our contributions by $300/mon. We should have at least 25 year to retirement. I am just glad that this is happening now for us than later.

But with my parents, I think my dad might have to work a little bit longer than he initially planned.