Moving On With the Trading Race
2009 is truly a new and possibly dreadful year for us. The economy is in shambles, insurance companies are bending the rules, and the end of it all is not in clear sight. We do have a new president that promises to spearhead the battle, but he's still getting a feel for the position, and he'll surely make mistakes on the way. In short, we may be in this ditch for a while. I do believe that we'll recover, however.
But what does this recession mean for the average American? The most obvious repercussion of the financial crisis is the rapid drop in available jobs. Unemployment, of course, is expensive. Old spending habits die hard, and we may find ourselves broke long before we find 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.
You may be asking; what possible investments can one go into in these times? You don't have to be an expert broker to know that most stocks are really low in the stock market. But even though prices are way below and may still drop, you'll notice that things are a bit more stable now than when the crisis began. And when recovery starts, and it's inevitable, cheap stocks of today will steadily push upwards.
The unfamiliarity of the stock environment, of course, means that things are a bit chaotic. At the end, what's important is that you plan what you're going to do and stick with what you planned out. Stumbling is something everyone goes through in a race, but if you stop and groan at your mistake, you'll still get left behind. - 23199
But what does this recession mean for the average American? The most obvious repercussion of the financial crisis is the rapid drop in available jobs. Unemployment, of course, is expensive. Old spending habits die hard, and we may find ourselves broke long before we find 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.
You may be asking; what possible investments can one go into in these times? You don't have to be an expert broker to know that most stocks are really low in the stock market. But even though prices are way below and may still drop, you'll notice that things are a bit more stable now than when the crisis began. And when recovery starts, and it's inevitable, cheap stocks of today will steadily push upwards.
The unfamiliarity of the stock environment, of course, means that things are a bit chaotic. At the end, what's important is that you plan what you're going to do and stick with what you planned out. Stumbling is something everyone goes through in a race, but if you stop and groan at your mistake, you'll still get left behind. - 23199
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posted by X - Men @ 2:50 AM
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