Do you know anyone overreacting?!
Question: Do you know anyone overreacting!?
Friends of ours have decided that the country is going to hell!. They have pulled all their money out of the bank, cashed in their CDs and closed out their 401K!. They have decided to keep all their money at their home with them!.
Do you consider this overreacting or reasonable!?Www@Enter-QA@Com
Do you consider this overreacting or reasonable!?Www@Enter-QA@Com
Answers:
I'd say they are re-living that apocalyptic battle Y2K where our whole country freaked out!.
I really do think we're headed right back towards the stone age!. Banks are closing, our stock market is flopping, businesses can't afford to stay open, housing markets are plummeting, more and more people are on state welfare, the people that need it most aren't getting it, and eventually its all going to dry up, and we're going to be SOL!.
:(
But yeah, I do know a few people overreacting!. Mainly Yahoo Answers!!Www@Enter-QA@Com
I really do think we're headed right back towards the stone age!. Banks are closing, our stock market is flopping, businesses can't afford to stay open, housing markets are plummeting, more and more people are on state welfare, the people that need it most aren't getting it, and eventually its all going to dry up, and we're going to be SOL!.
:(
But yeah, I do know a few people overreacting!. Mainly Yahoo Answers!!Www@Enter-QA@Com
I'd say overreacting for now!. I don't have enough money in the bank to worry about, but, I don't think it's necessary to take it all out!. The banks are insured!. I have lowered my contribution to my 401K for a while and have thought about redistributing the money that is in there to some conservative options rather than the aggressive stocks ones that I have now!.
I hope they have their money in a fire proof safe!. Www@Enter-QA@Com
I hope they have their money in a fire proof safe!. Www@Enter-QA@Com
Overreacting!.
CD's aren't earning crap right now!. As long as it had matured, I would have taken the cash out too!. But, keeping it at home doesn't earn you interest!. ING has a savings earning a 3!.0% APY, which considering the state of things, is pretty damn good!. It's not doing anything for them stuffed in a mattress!.
Closing out the 401K is asinine, especially if they were getting their company match!. Again, money in a mattress isn't going to work for you!. If they were afraid of losing $$, they could just alter their investments from more aggressive funds to less!. Or, change everything to a money market account so they don't lose funds!. Again, there are penalties to pay if you remove the money before you're 100% vested, and it doesn't earn interest if it's not in a bank!.
Tell them they need a cocktail or 10!.Www@Enter-QA@Com
CD's aren't earning crap right now!. As long as it had matured, I would have taken the cash out too!. But, keeping it at home doesn't earn you interest!. ING has a savings earning a 3!.0% APY, which considering the state of things, is pretty damn good!. It's not doing anything for them stuffed in a mattress!.
Closing out the 401K is asinine, especially if they were getting their company match!. Again, money in a mattress isn't going to work for you!. If they were afraid of losing $$, they could just alter their investments from more aggressive funds to less!. Or, change everything to a money market account so they don't lose funds!. Again, there are penalties to pay if you remove the money before you're 100% vested, and it doesn't earn interest if it's not in a bank!.
Tell them they need a cocktail or 10!.Www@Enter-QA@Com
Serious over-reaction!. Money at home is only going to lose purchasing power - It's a guarantee!.
No individual deposit under US$100K is going to be completely lost - FDIC has been solid, and continues to be solid - If your friends are worried, then the correct answer is to diversify, not play ostrich!.Www@Enter-QA@Com
No individual deposit under US$100K is going to be completely lost - FDIC has been solid, and continues to be solid - If your friends are worried, then the correct answer is to diversify, not play ostrich!.Www@Enter-QA@Com
Overreacting, definitely!.
I know someone that's overreacting, but in a different way!. If she sneezes, she starts panicking that she has a cold!.Www@Enter-QA@Com
I know someone that's overreacting, but in a different way!. If she sneezes, she starts panicking that she has a cold!.Www@Enter-QA@Com
Reasonable!. You never know when the gov!. is going to screw you over!.Www@Enter-QA@Com
ask me again in 10 yearsWww@Enter-QA@Com