Posted by dhermesc on January 15, 2009 at 06:17:12 from (24.248.193.103):
In Reply to: Denial? posted by Spook on January 14, 2009 at 16:48:11:
If you sell now you lock in your losses. After you sell what are you going to do, put your money in a savings account and earn 1%? Or put it in your mattresss and hope you don't have a house fire?
Even the most pessimistic posts below say it might take 20 years for the DOW to make it back to 14,000, about a 4% return. I'm thinking it might take 10 years to make it back or an 8% return. If it takes 10 years now is the time to pour money in. If your relative has a company match plan he needs to be buying stock while its on sale. At age 40 the guy has plenty of time, especially since he will probably be working until he's at least 70.
I watched "It's a Wonderful Life" over Christmas and pointed out to my wife the scene that has been the bedrock of my financial reasoning (for better or worse). During the "Panic" Jimmy Stewert implores his account holders to just calm down and points out that the richest man (Potter) in town is buying while everyone else is selling. People are EAGER to sell him their property at 50 cents on the dollar. Later in the movie its pointed out how Potter "saved" (some say stole) all the businesses in town except for The Building and Loan that Jimmy Stewert managed to keep runing by himself.
Either way, what happened has happened, its WHAT IS GOING TO HAPPEN is what you plan for.
We sell tractor parts! We have the parts you need to repair your tractor - the right parts. Our low prices and years of research make us your best choice when you need parts. Shop Online Today. [ About Us ]
Today's Featured Article - Grain Threshing in the Early 40's - by Jerry D. Coleman. How many of you can sit there and say that you have plowed with a mule? Well I would say not many, but maybe a few. This story is about the day my Grandfather Brown (true name) decided along with my parents to purchase a new Ford tractor. It wasn't really new except to us. The year was about 1967 and my father found a good used Ford 601 tractor to use on the farm instead of "Bob", our old mule. Now my grandfather had had this mule since the mid 40's and he was getting some age on him. S
... [Read Article]
Latest Ad:
1964 I-H 140 tractor with cultivators and sidedresser. Starts and runs good. Asking 2650. CALL RON AT 502-319-1952
[More Ads]
All Rights Reserved. Reproduction of any part of this website, including design and content, without written permission is strictly prohibited. Trade Marks and Trade Names contained and used in this Website are those of others, and are used in this Website in a descriptive sense to refer to the products of others. Use of this Web site constitutes acceptance of our User Agreement and Privacy Policy
TRADEMARK DISCLAIMER: Tradenames and Trademarks referred to within Yesterday's Tractor Co. products and within the Yesterday's Tractor Co. websites are the property of their respective trademark holders. None of these trademark holders are affiliated with Yesterday's Tractor Co., our products, or our website nor are we sponsored by them. John Deere and its logos are the registered trademarks of the John Deere Corporation. Agco, Agco Allis, White, Massey Ferguson and their logos are the registered trademarks of AGCO Corporation. Case, Case-IH, Farmall, International Harvester, New Holland and their logos are registered trademarks of CNH Global N.V.
