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If most consumers had it their way, every dollar would be under lock and key. Fixed accounts are "designed" to have this protection, but it doesn't keep up or even exceed inflation. Yes, it's safe from the market, but it doesn't give you the earning powerthat you desire.
When the market fell, everyone wanted to run for the hills and take their money with them. The baby boomers realized that they would have to work longer and the younger investors gave up on the idea of putting money away. Many stopped investing all together. When the market is down, it's not the time to make emotional decisions and pull your funds. Remember, the only person to get hurt on a roller coaster is the one who jumps off.
The emotional investor complains about losing their investment, roll the funds over, close out the account and gripe about the economy. What comes down must go up. An economic crisis has been seen before and we will see it again.
For those of you who have stayed in the market and continued to invest you've either recouped your losses and/or received a gain.
Starting an investment over can become overwhelming, but it can also be rewarding. Rewarding in the sense that you never stop contributing. Most of the wealthiest investors realize that in order to really get ahead you must buy low, sell high. In other words, purchasing more during the down market. You won't have to change your behavior; continue to invest. You will need to engage in Dollar Cost Averaging...your account (buy/sell) will take care of the rest.
Build a secure retirement for yourself through sacrifice, discipline and positive behavior. The days of traveling exotic trips upon retirement is distant, it's more about living while retired.
"Love yourself enough to support yourself."
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Reported by Bahiyah Shabazz, MBA