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Investing/Saving--What are you doing?
Have you changed the way you're saving/investing since everything with the market has gone to crap? We're still chunking money in our investment accounts, and I'm starting to wonder if we're being stupid about it.
I know the market will eventually rebound (as it has always historically), and we're also putting back easily accessible money in a money market account...but I just wonder if we're not allocating funds the best way right now.
Our accountant mentioned at our last tax meeting that he was hesitant to encourage anyone to put money into their retirement accounts...but I'm pretty sure that was because he thinks that's what the government is going to go after next. (He's kind of interesting...I didn't press him on the issue, so I'm not sure what he meant really).
Anyone want to share what they're doing/what they think?
Re: Investing/Saving--What are you doing?
When the market is down, we tend to put more money into it, especially when it comes to things like stocks from companies that have been around for a while. Buy low, sell high, right?
We've also (well, our guy has also) started investing our money three years ago in more world funds and fewer U.S. funds, which (keeping my fingers crossed that Germany keeps the EU afloat!) seems to have worked pretty well on the long term.
On the short term, we don't even open up our monthly statements any more. We just look quarterly. Otherwise, it sends me into panic mode when I see how much we've lost in value certain months.
We didn't change anything. I agree with 5th that I want to buy low and sell high. I sort of think everything is on sale now and for money I don't need in the next 5ish years, I feel comfortable with it being invested.
With that said, I have some money I know I need to invest and I have done nothing with it. I don't know what I'm afraid of, but something is keeping me from jumping in.
We're still putting the maximum amount matched by our employers in our work investment accounts, and the maximum allowed into our IRAs. They have a mix of domestic and international investments, mainly in mixed mutual funds rather than individual stocks. I don't even check the statements on those. Short term fluctuations are painful to watch, but I think we have good investments for the long term.
For non-retirement savings, we're taking a fairly conservative-to-moderate approach. The bulk of our savings is intended as our house down payment in the next few years, so we want something that is fairly low risk and not prone to large fluctuations. We hold some stock in major companies that keeps a fairly steady price but pays a good dividend, but the bulk of our investments are in Fidelity funds.
I think we have too much money in our money market/ "high interest" online savings account. It's safe, but even with a conservative investment approach we could be earning much more than the 0.1-0.8% our savings accounts earn. I think some of it should go toward higher risk/higher reward investments. Not everything we're saving for has to be short-term.