Comments on: Net Worth Update – January 2008

By: Lazy Man

Lazy Man — Wed, 23 Jan 2008 17:04:06 +0000

I don’t mind what happens to the market tomorrow, when I don’t plan to access the money for 30+ years. The only thing that I miss with that 2000 point drop is a better buying opportunity. I don’t consider that actual risk.

And when was the last time the market dropped 2000 points? It dropped 450 point yesterday – for about 30 minutes.

By: bubba

bubba — Wed, 23 Jan 2008 13:25:11 +0000

Maxing out your ROTH in one foul swoop is pretty risky. What if the market drops 2000 points tomorrow? If you space your your contributions throughout the year, you divide up your risk.

By: Cliff

Cliff — Wed, 23 Jan 2008 05:14:22 +0000

I think perhaps buying chinese stocks and currency may be the best way to go.

By: Money Management and You

Money Management and You — Tue, 22 Jan 2008 18:19:58 +0000

The stock market has taken a turn for the worse up here in Canada too. But real estate has stayed fairly strong.

This recession should however create some very lucrative buying opportunities. I think that soon it will be the prime time to leverage money and invest it in the market.

By: Llama Money

Llama Money — Tue, 22 Jan 2008 16:42:44 +0000

Being reliant on the stock market isn’t a bad thing at all. If you were drawing your income from the market, then the drop would be a concern. But you’re talking about retirement and long-term investments. If they go down, no worries. You won’t see that money for years and years anyway.

By: Lazy Man

Lazy Man — Tue, 22 Jan 2008 16:27:40 +0000

I need to max out both 2007 and 2008. I have to look at the cash that I have on the sidelines. There’s more talk about it later today, but I recently invested $5000 in another area that wasn’t eligible for my Roth IRA.

By: moneyloveandchange

moneyloveandchange — Tue, 22 Jan 2008 16:14:05 +0000

Have you maxed out your IRA contributions for 2007 and 2008? Just a thought if you are looking to take advantage of the recent market tank…

By: bubba

bubba — Tue, 22 Jan 2008 13:20:50 +0000

Just be glad it’s only 5k… I’m basically back to where I was at the beginning of last year (this includes what I contributed last year). Luckily, I’m not retiring anytime soon.