WOW! What the Dow did today!

[popplecop]

Adam, took a 1.6% cut in my state pension, CDs not doing much, had some extra in Money Market that was stagnant, so what does one do. Well a week ago today I ventured into the world of purchasing $10,000 worth of stock in SYSCO and Kimberly Clark, and then came yesterday. The crash is probably my fault, when my wife was alive she always said let the state pension board do the investing, you don't know anything about it. Oh well live in learn, you'd think after one goes past 70 they would get a little more cautious, but not me.

[fabsroman]

Originally Posted by popplecop

Adam, took a 1.6% cut in my state pension, CDs not doing much, had some extra in Money Market that was stagnant, so what does one do. Well a week ago today I ventured into the world of purchasing $10,000 worth of stock in SYSCO and Kimberly Clark, and then came yesterday. The crash is probably my fault, when my wife was alive she always said let the state pension board do the investing, you don't know anything about it. Oh well live in learn, you'd think after one goes past 70 they would get a little more cautious, but not me.

This is what I have been reading, and also what I believe in. What exactly do you and I know about any company we decide to invest in, that a mutual fund manager will not know? I'm willing to bet mutual fund managers managing billions of dollars have the means to learn more about companies than you and I do. Heck, I'm willing to bet that they can meet with the Board of Directors and officers of a company that they are thinking about investing in. Where are you and I going to get with the $10,000 we want to invest? Plus, these investment firms use tons of software to evaluate companies and their growth potential. What do you and I use? Our gut.

I understand why you did it, and I am toying with taking a chance too because if we hit it right buying a single family home will be just that much easier. Plus, if I hit it wrong, how bad can it really be? Not as bad as hitting it wrong on the roulette table in Vegas. However, the way I view online investing is the same way I view legalized gambling. It is just a bunch of gambling for people like you and I.

At your age, you need to keep your money in safe investments. If you haven't made enough to comfortably retire, you will most likely makes things worse by making high risk investments right now because you are already retired. Me, if I completely screw up an investment at age 38, I have another 30 years to refrain from the purchasing of Benellis, Berettas, Sakos, Rugers, $8,000 bicycles, etc. to try and save enough to make up for the bad investment.

With that said, the market does scare the heck out of me but I try not to worry too much about the thousands and thousands of dollars that we have in it.