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Tuesday, September 16, 2008
Dow drop freaking you out about family finances?
Are you moving around your family’s 401k funds? Are you pulling your family’s other investments out of the stock market? What’s your short-term, long-term strategy for family financial security?
The Atlanta Journal-Constitution
My husband told me yesterday that he had just moved some of our investments around to create a more conservative mix. (I was just relieved he said OUR money because the 401k in my name consists of about $5,000, which isn’t going to get me very far.)
He read financial news throughout the day and was thinking hard on the best ways to protect our family’s financial security with the Dow dropping more than 500 points in a day. (Here’s a recap of what happened yesterday on Wall Street.) Today’s AJC says experts are advising to ride out the downturn if you don’t need the money for a few years.
Did you jump online yesterday and move around 401k or other investments? Does the Dow dropping affect your family’s day-to-day finances or just long-term investments? Are you worried? Are you adjusting? If so, how?
What’s your family financial plan to get through the high gas, grocery prices and dropping Dow? Does it make you worry about your job as well? Are you going to talk to the kids about the dropping Dow and high prices? Is this a learning moment or you don’t want to scare them?
In related news: Here’s a link to a story about how important it is to marry a person who shares the same financial attitudes that you do. There are also tips (you know I love tips!) about how to become more compatible and prosperous as a couple.
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