The experts are still saying that it’s a good time to shop for the sales. Stock in companies that appear relatively safe are a good deal. Stay away from the shaky financial sectors. So even though the average American family is cutting back on expenses, there are still necessities needed, so the food and basic household products which fall under the category of consumer staples are worth a closer look right now.
Do not rush to pull out your money from banks. Your money is insured by the federal government. But on the flip side you may want to spread your money across a couple banks if you have over $100K in any one bank.
You should not have the bulk of your investment money in the stock market if you are around 55 years of age. As you near retirement, your money should be eased towards more secure investments, though these will net you a lower rate of return during retirement. At this time, you may want to start consulting a certified personal financial planner to gain some solid advice.
Finally, as I mentioned before, many baby boomers are considering delaying retirement. If you fall into that category and that is an option for you, consider it. This would allow a couple years for the state of current financial downturns to stabilize and, as historically has been the trend, to start a gradual rise back up, reducing some of the risk to your retirement portfolio.
Check out this cool investment tool:
http://www.smartmoney.com/map-of-the-market/
Smart Money's Map of the Market allows you to easily see accouding to the color grid how sectors and specific companies are doing.
1 comments:
I recently came across your blog and have been reading along. I thought I would leave my first comment. I don't know what to say except that I have enjoyed reading. Nice blog. I will keep visiting this blog very often.
Betty
http://www.my-foreclosures.info
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