Surviving the Trading Race
It's a new and possibly intimidating year, this 2009. The economy is down for the count, insurance companies are screwing people over, and the light at the end of the tunnel is a tiny pinprick in the distance. While the new president in office promises to make great things happen, he's still new at the position, and mistakes will surely come his way. In other words, we may be here for a while. But recovery is going to come.
What does this financial recession mean for the average US citizen? The most glaring repercussion of the financial crisis is the fast drop of available employment. Of course, unemployment is expensive. If we are used to a particular spending habit, old habits are hard to break, and we may find ourselves out of money before getting a new job.
It goes without saying that a little frugality is a good idea. It's advisable to try and cut back on things that aren't necessary, but try to keep a few expenses on hand to keep you happy and sane. You most likely have cash saved up, set an amount aside for mortgages and other necessities, and use the rest for minor investments.
What possible investments can there be had in this time? You don't have to be an expert broker to know that most stocks are in shambles. But, while prices are low and may continue to go down even further, you will notice that it is now more stable than when this initial crisis began. And when, not if, the recovery pulls through, the cheap stocks of today will steadily rise back.
Of course, the unfamiliarity of the stock environment means that it is very hard to predict. Bottom line, what's vital is you plan what you're going to do thoroughly, and stick with it. It's a race in which everyone stumbles, but if you stop and grumble at your bruises, you'll get left behind. - 23159
What does this financial recession mean for the average US citizen? The most glaring repercussion of the financial crisis is the fast drop of available employment. Of course, unemployment is expensive. If we are used to a particular spending habit, old habits are hard to break, and we may find ourselves out of money before getting a new job.
It goes without saying that a little frugality is a good idea. It's advisable to try and cut back on things that aren't necessary, but try to keep a few expenses on hand to keep you happy and sane. You most likely have cash saved up, set an amount aside for mortgages and other necessities, and use the rest for minor investments.
What possible investments can there be had in this time? You don't have to be an expert broker to know that most stocks are in shambles. But, while prices are low and may continue to go down even further, you will notice that it is now more stable than when this initial crisis began. And when, not if, the recovery pulls through, the cheap stocks of today will steadily rise back.
Of course, the unfamiliarity of the stock environment means that it is very hard to predict. Bottom line, what's vital is you plan what you're going to do thoroughly, and stick with it. It's a race in which everyone stumbles, but if you stop and grumble at your bruises, you'll get left behind. - 23159
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posted by X - Men @ 2:50 AM
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