I made the mistake a day or so ago of opening and reading one of my quarterly mutual fund statements. I had made no additions or withdrawals, but the ending value had decreased by nearly $9,000. How's that for bad news for 2009? This news comes from a respected company I won't name here, and I expect a couple of others from another company. I'm not much of an investor, and these funds do not contain my entire "fortune." However, it's distressing to wonder if such losses will continue. Should I have bailed out long ago? It seems a bit late to do so now. The fatalist in me believes that I should leave things as they are and hope for eventual recovery. If the stock market recovers while I'm still alive, I'll be able to profit. If not, it will be intereseting to see how low my balance can go.
I always laughed at my mother's conservative financial habits. Her only investments were insured bank CD's and a couple of small, paid up life insurance policies. Still, she managed to live to the age of 95 with a little money left over. Will I be as fortunate?
1 comment:
I started college funds for my grandchildren and they are commenting on how low they are right now with the sagging economy. Tough lessons for young kids to learn so young.
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