Monday, October 06, 2008

Are you ready?

Today the Dow was down- way down. The analysts say to get everything into cash for the next five years- these are BIG investors. We went into cash about seven months ago- still I had no idea. I knew it was big- but this is REALLY big. Just in time my sister in law arrives. I have a feeling we will be doing lots of stocking of shelves and such. We may go and look for good places to plant in the spring. She will probably help me purchase good seed for that land and have ideas about the soil. Our trees should have fruit in the summer next year. I tend to be doom and gloom when I am sick (which I am) but this looks pretty gloomy from here.

3 comments:

ancient one said...

No... and I hesitate to make any moves.. I don't want to panic or cause others to panic..

Did you say five years of cash? What exactly does that mean?

Janette said...

I think they are talking about money that you need in the next five years- college expenses, car, what you need. Take it out of the market. If you need it in more than five years- you might as well ride it out. By this afternoon I called my broker and canceled my sell on a mutual fund. It is down too much.

ancient one said...

Okay.. thanks Janette... we should be ok.. ours is in short term CD's ..I was wondering if we needed 5 yrs of cash in the house to see us through something bad...