Resources on the Economic “Situation”

Click this link for a great post you can use to educate yourself on the economic crisis.  It’s from a quality blog and has a lot of good links and information.  If you’re having trouble understanding what’s going on, or if you should do anything, or whatever else, check the link out.

The general message is “calm down, keep your money in the market, invest now if you can.”

Here’s a good quote:

9. Don’t Let Your Friends Be Morons
Don’t let your friends be idiots. If you read this site, chances are you understand that having 20, 30, or 40 years before you need your money gives you plenty of flexibility to invest for the long term, even with major or minor dips in the market. Yet with these terrifying headlines every day, it’s like people have become It’s not just focusing on the wrong things, it’s making poor financial decisions and then throwing up your hands and wondering why you don’t have enough money. If you own only one stock — especially if it’s your employer’s stock — then you are a fool. If you are going to buy a $1 million house with no research because you think it’s a good investment, you are a fool. If you don’t realize that your expensive, worthless mutual fund is costing you tens of thousands of dollars over your lifetime, you are a fool. Worry about the things you can control, not the headlines.

1 comment:

Andrew Lynch said...

Hi there,

My name is Andy Lynch and I'm actually currently working with Ramit from iwillteachyoutoberich.com, and he pointed me to this post.

Couple of things I wanted to ask you:

1. Ramit just put out a private video on automating your finances and we wanted to send it to you as a thank-you.

2. His new book is coming out, and for the people who pre-order the book (it's about $10) in the next few days, you'll get 6 chapters by PDF before anyone else, plus entry into a private community with premium content. Can I send you some more info and the link to the video? If yes, please drop me a line as soon as possible -- andrewlynch88@gmail.com.