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YOUR MONEY |
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October 2008
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Grant Carroll, financial expert from Strategic Alliance will be answering your money questions from noon to 1 p.m. in KGW's Your Money blog. To submit a question, just scroll to the bottom and fill out the COMMENTS form. Saving is a great idea. 401(k) plans are for long term retirement saving, offer current tax deductions, offer diversified investment choices, and potentially employer contributions. So long as you have ten or more years to accumulate contributing on a monthly basis will help you accumulate more shares at lower prices over time. Check with your employer about any matching or profit sharing. ------------------------------------------------------ Brad, Stock prices are at historic lows which equals a good time to buy. Purchasing stocks is a good decision so long as investors have longer time periods and can stomach possible decreases in their investment over the short term. -------------------------------------------------------------------- brad said: Brad, If you own the bonds directly from the issuer and not in a mutual fund, you will receive the face amount of the bonds at maturity from the issuer. The flucuation in price shouldn't worry you. The $300 a month/$3600 annually is a good tax free income source. ---------------------------------------------------------- Marvin, Your current decrease in value of 25% over the last year is much less than that of the general stock market due to your smart decision to diversify. You should visit with an adviser to build a plan that will address your personal income needs, timeline when you will need income, and consider longer term economic trends to maintain the correct mix of assets. ----------------------------------------------------------------- Gaylon said: Gaylon, now is a great time to keep dollar cost averaging into the market - we haven't seen securities at these values since 2003. Ten years is only until you retire, not how long you need the money to provide you income. Stay diversified, get the employer match (if there is one), get the tax deduction - all good reasons to continue contributions. -------------------------------------------------------- Jim said: Jim, It is hard to pull long term money out of the market. It is a guaranteed loss, and then you have to time when to put it back in. Keep calling/emailing/texting your broker. He/she needs to respond. ----------------------------------------------------------- Lawrence said: Lawrence, "safe" means different things to different people. Safe from principal loss would be a short term US Treasury bill or CD from a bank. CDs though aren't immediately liquid. If you want liquid, savings accounts or insured money money market are a good choice. ------------------------------------------------------- Lynne, Your "expert" is advising you correctly. Even though this market correction is historic in its depth and quickness, being steady NOW with a plan you created before all of this certainty started is the smart move. Not trusting your adviser is another issue you need to address. ------------------------------------------------ Lynne said:
Leonard, I understand you concern. The market can go as low as investors will make it. Whether it is too late to sell depends upon your use of the money. Short term money needs shouldn't have been in the market. Longer term money should be diverisified and allocated across various assets classes. -------------------------------------------------- 23 CommentsLeave a comment |
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Unbelieveable! How low can the market go? Is it too late to sell, sell, sell?
I am/was within 2 years of retirement. Our financial "expert" has pretty much said hold tight. Meanwhile I am losing $$ and paying him! Not sure if he is giving the best advice since he probably doesn't want to lose income from me and others. What do you think is the best step for me?
What is the safest place to move money?
k
I have a tax sheltered annuity retirement account with ING. 40% is what they conservative, 43% moderate risk, and 12% aggressive. During the last year, the value of the account has dropped by over $20,000 (25%). My stance has been to let it ride, since I won't start drawing on the fund for a couple more years. Now I don't know what to do or how to do it. Suggestions.
At what point should one take there money out?
I have left a couple of messages for my personal broker and it seems that he's pretty tied up right now! I wounder how far should I let it go until I do something about it?
I AM BAFFLED AT WHY WE CANT PUT A TEMPORARY FREEZE ON THIS AS WE TRY AND COME OUT OF SUCH A CRISIS. WE ARE BAILING OUT SO MANY BUT NOT TAKING AS MUCH TO THE FALLOUT CONTINUING ON WALLSTREET. UNTIL THERE IS SOME KIND OF FREEZE, IT WILL ONLY GET WORSE, AND THE MORE FOLKS SEE THE DOW DROP, THEY WILL PANIC AS WELL. ANXIETY IS AN UNDERSTATEMENT.
Is a mess. I lost my home in 2000. Filed Banckrupsy and still lost my home. Bad Attorneys. Can sue them, of course not-it the judge who looked at a case and told me personally there is no reason that I couldnt keep my house-lawyers did not do there job.
Then we an Enron, who stole of PGE folks retirements? Now AIG, Bear Stearns, Fannie and Frankie, Wachovia. Greed is started this mess.
Me, I just to be able to get a decent paying job, I was laid of 12/2007-my unemployments ended this week-still no job. not from lacking of trying? ( have several interviews this year)
How am I to pay my bills? Like food, rent, I need my internet and a phone to keep looking a job.
So cut off my beneftis it
I wonder how many folks will be in the parks?
I have a 401k at work in which I contribute 15% of my own pretax income. Would it be a good idea to decrease my contribution?
I have about 70% in the stock market and I plan to retire in ten years.
my question is, since I purchased my house one year ago, the value of my home has gone down 100,000, I was told I could not refinance because I owe more than the "todays value" of my home. What can be done, what can I do to get a lower intrest rate?
i have tax free bonds that have lost 6,000 since the begining of the year do you see tax free bonds still a good backfall also i get around $300 a month tax free dividend from this
My wife and I are 57 years young, retired,and have never played the stock market. We have about $5000 and were thinking of buying some G.M. stock now that it is low. In your "opinion", is this a good thing to in these times?......Bill
I am unemployed with a couple of months worth of savings. I have a small "Rollover IRA" that was worth ~$7K a month ago, but is now down to ~$4K. I am considering withdrawing my funds to live on while I look for a job, especially since I don't know how quickly I will find employment in this chilly economic climate. Now I am worried that my small IRA will dry up completely, and I have already exhausted all other sources of income. In this situation, would you recommend that I withdraw my funds?
the president talked about insurance for
money market funds this morning.
can you get ins for your 401k ? or money market
With so many Companies having finiancial trouble, and perhaps closing doors...how are our pensions protected and to what % are they protected? If there is a place one can go on the internet to see how your company looks at pension protection where is it?
thanks in advance
is there insurance for your 401k or money market mutual funds that can be purchased
My company has a 401K plan, but I've never contributed. Is this a good time to start? Will I get bargains - or simply lose my money?
I contribute $350 per twice a month to a 25% matching company 401K plan. I'm 32 and I recently reallocated these funds into money market accounts - was that the right move? I'm not diversified anymore, but the funds I was contributing too were losing a lot of ground. I can reallocate easily. Additionally, since I contribute so much the only funds I can allocate to are Large A funds. My husband also has a state pension and 2 IRA's that are diversified and we haven't changed thoses.
First e-mail did not go through so here we go again.
I have lost my job after 20+ years in a company. I rolled my 401K over to mutual funds.
I am only 52 years of age and of course, cannnot touch those funds til 59 1/2.
Is there anything to worry about in this case?
Thank you.
Alice
Hello. I have PERS account and I have recently been dismissed. I would like to take out the money but I know I have to pay taxes on it. I'm wondering if I have to pay taxes on the money again if I reinvest it in some other stock and then take the money out again.
Also I wonder where to invest this money after I get it out of PERS.
Thank you for sharing your knowledge.
Arlene
I have debt in collections. It is all health related debt. Can you please tell me where I can go to get help straightening out my mess.
I get mail and dont even know who is who anymore.
It totals about 2500 dollars. I want to clean this up but need help.
Thank you so much for your time and energy.
Lori
Do you have any suggestions what to do if you purchased a new home two years ago in Vancouver and are needing to refinance. Not to gain $. Just the terms of the loan. Had 10% equity in at purchase time. A week ago an appraisl came in a 380K reducing equity to 5%. A loan co. I was refinancing with decided to review the appraisal and knocked another 50K in value. Can't refinance what I owe even when I have great credit and a good job. What can I do?
My mother is 86 years old, would it be better for her to put her money in Tax free bonds, or Annuity with Beneficial?
Thank you, Jake