What are you doing with your stocks, long term deposits, properties and gold currency?
What about your 401k?
2007-07-26 10:05:45 · 5 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
you are incorrect in predicting a "coming economic depression".
2007-07-26 10:08:26 · answer #1 · answered by Anonymous · 2⤊ 0⤋
How can you be sure of an economic depression? To be honest, I don't worry about that much about the future. I can't change it, so why worry?
I live within my means. Keep my debt as low as possible. You never know when you'll lose a job, or be hit with a serious illness. I don't have a ton of savings, but by living within my means, I could handle an unexpected loss of income.
My portfolio is balanced between low, medium and high risks. I wouldn't consider touching my IRA or 401K for any reason.
I bought a reasonably priced house to live in, I don't consider it an investment other than when I'm elderly and can't work anymore, it might be something I could sell, and help pay rent on a small apt. if I need to.
2007-07-27 07:50:43 · answer #2 · answered by kat_sparrow 3 · 0⤊ 0⤋
Stocks, Mutual Funds, IRAs, 401k - letting them ride.
The people who panic at the first sign of a downturn usually lose in the long run.
It won't be a "depression" but it may be a "recession". Presidents with the last name of "Bush" seem to have a way of starting them.......
2007-07-26 10:12:16 · answer #3 · answered by Wayne Z 7 · 2⤊ 0⤋
what economic depression, when was the last time we had an economic depression? do you mean a recession? it won't happen.
2007-07-26 20:33:36 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Just what qualifies you to make such a rash statement?
2007-07-26 10:13:50 · answer #5 · answered by Jan Luv 7 · 2⤊ 0⤋