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Advice on how to deal with economic crisis

All my savings are in investments and my investments are going down the drain because of the economic crisis. I know a lot of people are really worried about their savings, the future of their kids and their pension plans. I’m definitely feeling down about this right now but I don’t want to wallow in fear; anger or depression. I imagine that a lot of poeple are worried and sad like me. What advice can you give us (me) on how to deal and get through this crisis (and possibly loose most of our savings) without freaking out (and losing everything we worked for?)?

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Answer #1

Personally, I think that cd’s are good, but low yeild..depending on your tax situation, certain types of life insurance offer after the various costs are added up, better returns than 401k plans & similar. Also, while it has downside, building a business is almost always a good investment…but, it’s a lot of work, and not something you want to do if avoiding risk is your goal.

Answer #2

Thanks for the advice but research seems to indicate that they aren’t all that trust worthy. Why do you recommend indexed annuities this in particular.

Here’s what some have to say about it: http://www.usatoday.com/money/perfi/columnist/waggon/2004-07-29-invest_x.htm http://www.heraldtimesonline.com/stories/2008/01/27/business.qp-7118544.sto

Answer #3

Ask your financial counselor about indexed annuities.

Answer #4

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