For years I have been the investment/bill manager in our house. I seem to have the sense of "know when to hold 'em, know when to fold 'em". Recently my husband discovered his IRAs. They have been steadily growing under my wings for a while. He just never even knew about them. Well, the two he knew about have made no money in the last 10 years....he controlled that.
We moved our IRAs from the dreaded AGEdwards/ Wacovia/ Wells Fargo this week. They clipped a nice percent from our money before sending it on (it was all in cash). It is now safe in a bank/brokerage that I trust.
What did he do? "Wow! Money to invest!"
My stand on what is happening in the market right now is what happens every year this time of year. The big firms are cashing in to give all of their people the capital gains that they want to see (which are not real- but we get to pay Uncle Sam for them).
My philosophy is never buy past Oct 20th unless you really see something pop. Hold um until the end of December if you can and buy like crazy after the Mutual funds dump mid Dec.
Did he listen? Nope.
Did he invest this morning and then watch it go down the rest of the day? Well, if you follow the market you know the answer.
See, my husband has STILL not figured out that this money is actually MY retirement. He has his pension from the Army. It would sustain him without a problem if I should pass away first. Me? I don't have any pension and our IRAs are my retirement IF he (eight years older than me) should pass away first. (Please don't ask me about insurance - he was a finance major and is convinced it is a rip off).
Taking the money and playing is not my idea of fun. I have worked hard for these gains. Got out before the crash and held in cash until now.
He will learn. Today he even said something about this morning when I said- quietly- "I think you might not want to invest today because of the profit sharing this time of year." Tonight I got, "I think I should have listened to you. At least we are in good stocks;.)"
This is something I have studied for the last 25 years. I ask him for advice about other things that he has studied for years (like people). UGGG! sometimes he is such a MAN!
Taking up golfing is sounding better each day!