brip blap - Latest Comments in 7 mistakes not to make in a crisis

Re: 7 mistakes not to make in a crisis

Patrick — Sun, 12 Oct 2008 11:17:31 -0000

I definitely think this is a buying opportunity... My 401(k) is already on schedule to be maxed out for the year, although I could increase the percentage now and decrease as we get closer to the end of the year. I've also thought about starting a solo 401(k) or other self-employed retirement plan with my online earnings. Now seems to be a great time to do so.

Re: 7 mistakes not to make in a crisis

deepali — Thu, 09 Oct 2008 21:41:21 -0000

they didn't add pork. they mixed in a bill full of tax extensions that was due to expire. it didn't really add more cost, and had already been considered and passed. the *real* problem is the nebulous $700 billion we just signed away. keep your eye on the ball....

Re: 7 mistakes not to make in a crisis

Chad @ Sentient Money — Thu, 09 Oct 2008 17:59:31 -0000

I couldn't agree more with #2 and #7. Now is the time to be putting money in, not taking it out. Anyone taking it out can't complain about returns after they miss the run-up after this huge downturn.

#7 is even more important. Congress didn't add anything good to pass the $700 billion bailout...they added pork. They ADDED PORK to something that might weight on us for years.

Re: 7 mistakes not to make in a crisis

WealthBoy — Thu, 09 Oct 2008 09:07:02 -0000

I couldn't agree more with point #2. I've done the same as you and I recently doubled my contribution. If you have a company match, it's even more reason to continue contributing to your 401(k).

Re: 7 mistakes not to make in a crisis

Curmudgeon — Thu, 09 Oct 2008 08:20:53 -0000

Good stuff, Steve, and I agree completely. Regarding job activities, I'm amazed at the networking opportunities out there. I just returned from a conference (which I attended largely on my own dime), giving a last-minute talk to fill in for a cancellation. I dusted off a presentation I hadn't looked at in two years, and reviewed it for about half an hour beforehand. Afterwards, I received invitations from two attendees to talk to them further about consulting assignments based on the presentation topic.

Re: 7 mistakes not to make in a crisis

Mrs. Common Cents — Wed, 08 Oct 2008 23:19:49 -0000

Steve, I agree with you wholeheartedly about the real change being in Congress. I wish people were more educated about how to influence change locallly. We can dream, right?

Re: 7 mistakes not to make in a crisis

Writer's Coin — Wed, 08 Oct 2008 22:41:56 -0000

Tell me about it with the pundits. All you need to do is find one instance of pundits saying something ridiculous and you'll find it a lot easier to get over their supposed expertise. It's like sportscasters—some are good and some suck. Listen to one that sucks and it's all you need to realize that just because they're on TV it doesn't mean they know what they're talking about.

Re: 7 mistakes not to make in a crisis

asithi — Wed, 08 Oct 2008 16:52:32 -0000

Having good health is always important. When you are feeling aches and pains, it is hard to stay positive. But when you are healthy and moving, things really do not look that bad after a good night of sleep.

Re: 7 mistakes not to make in a crisis

CraigK — Wed, 08 Oct 2008 16:45:41 -0000

Nice tips and I'm sure I will probably make some too in small amounts, but that's how we learn, isn't it? Either way I like the list especially health. People take their health for granted and don't realize that if you are healthy, besides the obvious health and mental benefits, you save so much money. Especially now when you should be saving money, you should not have to waste money on prescription meds, and doctor fees if you can be proactive and stay healthy.

Craig
www.budgetpulse.com

Re: 7 mistakes not to make in a crisis

moneymonk — Wed, 08 Oct 2008 13:42:58 -0000

I’ve upped my 401(k) contribution rate as well The stock market is on SALE!!

Re: 7 mistakes not to make in a crisis

bubelah — Wed, 08 Oct 2008 10:01:23 -0000

Wow, how inspirational, Steve! I get angry and depressed by reading economical news and how AIG execs had a party at a posh resort in SoCal.... And here I am worried about our children, our lives, my aging parents who have an awful healthcare insurance...