Stock Market - S&P Breaks Key Support

**Cyclonepride** · 06-30-2010, 09:36 PM

Originally Posted by jmb

cash...who cares if you get 0.05% the alternative sucks-

I'm not convinced that cash is safe either. Gold....smokes.....whiskey?

**Dopey** · 06-30-2010, 09:38 PM

Originally Posted by Cyclonepride

All there really is to do is let it ride. Not sure where else I'd put my money, and I'm in it for the long term.

I somewhat agree because of my age. I'll still keep pumping money into my 401k and IRA, but I cashed out my "fun" money from my Scottrade account in April and put it into my American Express savings account. That baby gets me 1.3% interest.

**Cyclonepride** · 06-30-2010, 09:43 PM

Originally Posted by Dopey

I somewhat agree because of my age. I'll still keep pumping money into my 401k and IRA, but I cashed out my "fun" money from my Scottrade account in April and put it into my American Express savings account. That baby gets me 1.3% interest.

We're not pumping additional money into anything, but what we have in, we're leaving there. Our financial advisor has been fantastic, and through the worst of it (late '08 to '09), we only dropped about 2%, and then gained back at a rate similar to the market when it started to recover. However, through the next few years, I'm not sure there is anywhere that is real safe.

**Dopey** · 06-30-2010, 09:45 PM

Originally Posted by Cyclonepride

I'm not convinced that cash is safe either. Gold....smokes.....whiskey?

Haha, true. But if cash isn't safe, we might as well invest in canned goods frozen meat. Can't live scared forever.

**Cyclonepride** · 06-30-2010, 09:53 PM

Originally Posted by Dopey

Haha, true. But if cash isn't safe, we might as well invest in canned goods frozen meat. Can't live scared forever.

I agree, which is why I'm letting my current investments ride. I'm sure there will be opportunites to make massive amounts of money (and lose it), but with the current instability, it's almost impossible to tell which is which through logic and reason. So my extra money will be paying down bills, and possibly buying some commodities like gold.

**uro cy** · 06-30-2010, 09:53 PM

Time to gear up for the next round of buying opportunities later this fall....

**CloneIce** · 06-30-2010, 10:02 PM

Originally Posted by CYKOFAN

Not looking good. Slow economy and can't lower interest rates since those bullets were used up 3 years ago to create the borrowing and housing boom.

Long before 3 years ago, which was a big part of the borrowing boom.

**dmclone** · 06-30-2010, 10:06 PM

If I wasn't getting a hefty discount on my company stock, I would be putting extra money into my mortgage. Not a lot of risk doing that.

**CYKOFAN** · 07-01-2010, 09:57 AM

Cloneice- True, the prime was being lowered well before 3 years ago, but it seems like it was lowered to zero about 3 years ago, though my memory may be off a little.

**kcclones** · 07-01-2010, 10:04 AM

ready to find some bargain stocks like last summer

**Bobber** · 07-04-2010, 11:12 AM

Good deal. I've got some money sitting on the side line ready to go in.

Also want to roll some money from an IRA into a Roth. The lower this thing goes, the less tax I pay.