January 3rd, 2009
03:40 PM ET

Ok, you lost your shirt. Here's what you have to do now:

[cnn-photo-caption image=http://i2.cdn.turner.com/cnn/2009/images/01/05/art.velshi.hiresbook.jpg width=292 height=320]

Ali Velshi
CNN Chief Business Correspondent

You could not have escaped 2008 unscathed.

*The Dow ended the year 33% lower.
*The S&P 500 ended 38% lower
*The NASDAQ was down more than 40%

Even if you followed all the rules and diversified your savings, you lost 30-40% or more in 2008. Virtually nothing could have saved you.

But history tells us that big opportunities follow those kinds of
declines. And you can start building – or rebuilding – your wealth right away.

Friday's massive market rally is a perfect example of why you can't be trying to wait out this market turmoil.

You have to be in this market, period. A lot of people don't want to hear that but unless you have a rich uncle who is about to pass on and leave you a small fortune, the markets are the only real (legal) way to create wealth. And you can take part in them without become a trader, and without buying a single individual stock. Spend just a few hours learning about how markets work, and how they can work for you, make a few tweaks to your 401(k) or IRA, and you're on your way to a more secure financial future.


Take these 10 steps right now to become a better investor:

1. Pay off any debts costing 10% or more per year before investing for retirement.

2. Take a "risk tolerance" test to find out what kind of investor you are, and don't put money you'll need access to within five years into the market.

3. Tax-advantaged savings plans – especially those to which your employer contributes – are just about the only "free money" you'll ever get.

4. Asset allocation – the appropriate distribution of your money
across several types of investments – lowers your risk AND earns you
a higher return than if you just invested in one or two types of assets.

5. Understand how different "asset classes" work. Take a few hours
to learn the key features of stocks, bonds, cash equivalents and
alternative investments.

6. Mutual funds, index funds and Exchange Traded Funds (ETFs) give
you instant diversification, with less risk than owning individual stocks.

7. Keep your investment costs low. Fees, commissions and expenses
can eat a big chunk of your returns over time.

8. Rebalance your portfolio at least once a year. Keep your portfolio aligned with your "asset allocation" by selling some of your winners, and buying more of some investments that have suffered.

9. If you leave your employer, roll your 401(k) over into an IRA immediately. It's the only time you can convert your 401(k) into a retirement vehicle with many more options.

10. Remember that investing takes discipline, but it allows you to
control your financial future.

Watch Ali on CNN at 3pm Sunday as he introduces his new book, "Gimme My Money Back: Your Guide to Beating The Financial Crisis"

Filed under: 360° Radar • Ali Velshi • Economy • stocks
soundoff (128 Responses)
  1. Karen


    Yes, the market rallied on Friday. But at what level of participation? Weren't the majority off enjoying a holiday? A couple of apples does not an orchard make.

    Yes, the market will rally...I think the question remains 'when.' I'm just not convinced that we have hit bottom yet.

    And, FWIW, I've been employing these investment steps for the past couple of decades. As you've stated, we have all lost 30-40%. So exactly how did this discipline allow me to control my financial future?

    Running scared and hoping that at some point in time retirement will be an option for me. My time is running out.

    January 4, 2009 at 12:39 pm |
  2. Dennis

    Asset Allocation?! Modern Portfolio Theory?! Another "great hypothesis slain by an ugly fact" is my observation. It just did NOT work ... it has been PROVEN to be incorrect by counter example. Yet it's the only theory the investment "professionals" seem to be comfortable with.

    It's apparent that most (self included) have lost trust in the markets. The toothpaste is out of the tube and it will take a whole new generation of suckers to refill it.

    January 4, 2009 at 12:37 pm |
  3. Greg Smith (OfficialWire)

    We are witnessing the total meltdown of America and then the World. This is merely the beginning. Expect worse and prepare for the worst. I started buying and gathering gold. It's all that will be worth a damn soon. Forget stocks, bonds and all of bogus wealth.

    January 4, 2009 at 12:35 pm |
  4. David

    Over all I think this is pretty good advice. I would add.
    1. Pull your credit report.
    2. Make a hard line choice if your going to play in the market or not. If your going to play inthe game, then do. If your not going to play in the game, then dont.
    3. Get down to bed rock of ones life. If any one thinks what is going on is just about finances, I would ask thim to take another look. Fiinances just happens to be what is getting peoples attention.

    January 4, 2009 at 12:23 pm |
  5. Suth-B

    As a history teacher, I always look to the past to learn lessons and give guidance as to what decisions to make for the future. Historically, the greatest wealth has always been made after the biggest declines in the market but ONLY for those who are in the market at the time(diversified, of course)....not for those who wait and then hop on the train months or years after the turn-around....and NO ONE has ever been able to predict when the turn-around will happen especially since the market is a "leading" indicator....meaning that it will recover BEFORE the general economy. It has always amazed me that people jump into the market when prices are high and jump out when there is a "fire sale" It make no sense in the normal market that you would run screaming out of a store because your favorite outfit (that you couldn't afford) just went on sale 50 or 60% off. Of course, you would buy the outfit immediately and consider yourself to be a smart shopper. Warren Buffett is buying and he's the smartest finance guy I know so I'm keeping a steady head in these scary times and following the lessons of history.

    January 4, 2009 at 12:20 pm |
  6. Heather,ca

    Last year was the beginning of the end of the biggest ponzi scam of all times coupled with cheap easy money. We saw unrealistic and unsustainable highs on wall street. People getting houses who did not have the income to qaulify for a proper loan. People buying homes as investments. People using their over priced homes to get lines of credit for home improvement or cosmetic surgery. People buying flat screen tvs etc. People getting numerous credit cards or using the line of credit from their home to pay off credit card debt. I always thought sixteen thousand was a unrealistic high for the Dow. Maybe twelve is more realistic. When 9/11 happened Bush said spend your money. Buy something. Greenspan kept lowering rates. Homebuilders bought up land and were developing it at record pace. They were doing whatever they could to get people to buy. People were so hungry for it that they took a chance on something that has serious consequences if you cant afford it. Id say we are back to basics. I like your ideas they are smart. If you are in debt its time to pay it off. You spent the money its your responsibility to pay it. I have a etf i havent touched. We are all guilty in some way of taking advantage of all the different things that were easy to get. Now we have work hard to pay for it.

    January 4, 2009 at 12:09 pm |
  7. teresa, OH

    Congrats on the new book, Ali.

    January 4, 2009 at 12:05 pm |
  8. teresa, OH

    Love your advice, Ali. One little problem though: for most of us that live paycheck to paycheck: there is no extra money to even think of investing, there are no funds, no investments, no money we can afford to be without for 5 yrs., blah, blah, blah. Portfolio? To poor folk that's the Sunday coupons. Diversification? That's deciding between Walmart and the dollar store.

    I think rich people, I'm guessing you're rich, Ali, put out information to us 'possible investors' cuz there is more of us than rich folks, to get us to invest and test the markets. I hope no working class American is dumb enough to have NOT learned the exquisite lesson this past year of recession has taught us. Investing makes rich people richer.

    January 4, 2009 at 12:01 pm |
  9. Michael

    "There is one born every minute, and two to take him"

    "Fool me once..........."

    I can't recover by my retirement, or maybe ever, what I lost to frauds, crooks, cheats, and the look out for me and my family "financial advisers". The only people I know who didn't get wiped out, work in the stock market and financial industries. They sit and look at it everyday, mostly working on their own portfolio, at least it sounds that way from conversations with them. "Well, today I bought so and so, and tomorrow I am going to sell some other blah blah blah."

    Ali, the kool aid is all gone at our house. And we ain't buyin' anymore.

    January 4, 2009 at 11:56 am |
  10. Herman

    I do not believe this is all over yet. When did they stop writing
    subprime mortgages? It will take a couple of years for all of
    these to come through the system. I believe there is more
    personal debt than with the mortgages ie.. credit cards,
    lines of credit ect.....
    Also I am done with mutual funds. I will buy stocks and look
    after it my self. I was going to get out of the market in the spring
    of 08 but was advised not to "oh its not going to get that bad"

    January 4, 2009 at 11:47 am |
  11. Dave

    Nothing you could have done?!?! I lost not one penny in this nonsense, because I don't participate in things I have NO control over, like the stock market. Mutual funds are a bad joke. So, while I didn't make all that "free" money while the markets "went up", I can be smug and say, I lost nothing either! There are other vehicles, you know. And not just rich uncles!

    January 4, 2009 at 11:46 am |
  12. Sunny H

    Dear Bill,

    You need to learn a bit about real science, not just blindly accept what those who stand to benefit most economically would like you to believe. Start by getting a subscription to National Geographic and READ IT.

    Global warming is real, whether you want to accept it or not. So is evolution. Facts Bill, facts.

    January 4, 2009 at 11:46 am |
  13. Terrilyn

    Look, those greedy old men back in the early 1930's were stung big time by the social security taxes enacted by Roosevelt. Some of those son's and daughters are still alive today with grandchildren of those men at the helm of power. Those individuals fought hard and schemed similar to what was done before them in the 1920's, now after George Bush almost put the icing on the cake for them when he went after your and my social security he would have completed the plan. Don't you see by investing in the market in the past 20 years, unless you got out in time, your loss was a gain for those in control. Don't be fooled. They got bailed out and now you are broke with nothing, they are laughing all the way to the bank, and on your nickel. Have you had enough, write letters, contact your congressman, tell them to get the high rises ready for all of us who lost our retirement while the investors responsible for this mess enjoy the best of what our money can buy. I am disgusted and yet I am hopeful I may help enact change by engaging in the right process to that change.

    January 4, 2009 at 11:42 am |
  14. Tom - Canada.

    Do not be fouled. I will only invest in stock when I see a sustained drop in unemployment. Till then, I consider any increase in stock market value as temporary and speculative.

    They've been telling everyone to stick to their investments since the beginning of the recession. This prevented the market from a quicker and more sudden collapse. But it also allowed the fat cats to slowly unload a lot of their stock, and let you take the fall.

    I pulled out of the market before it fell deeply. I did not loose much. Now I sit on some cash and I'll reinvest when I see it starts going up. Even if I miss the first big bump, I'll be better off then most people who kept their stocks trough the whole thing.

    Be weary of all these "experts". Their job is to make you do what the wall street wants you to do. Most of them either work for one of the big Wall Street players, or own one 🙂

    January 4, 2009 at 11:36 am |
  15. Kirk Bailey

    When the people who control public opinion (OR AT LEAST TRY TO) and the folk who dominate the market tell you to do something, you go run out and to something very different, maybe the opposite, ASAP.

    Yes, I am a contrarian. Go buy gold. Not gold futures, not anything else that is a piece of paper that has 'GOLD' written on it, go purchase GOLD METAL, and ACCEPT DELIVERY; possess the actual yellow metal in hand. stick it in a vault someplace where you can recover it latere, come hell or high water or even bank failure. Take a trip to Canada and deposit it intoo a safe deposit box there just in cae uncle sugar decides to make ownership of gold illegal again- like happened in the '30's, remember? You can convert it back into play money later when things stabilize.

    Act in your own personal self interest, and realize that the media is controlled by the interest of others, not by yours.

    January 4, 2009 at 11:35 am |
  16. ron

    This is about the most simplistic and contradictory article of the many such ones out there. Anyone who reads this article should immediately forget what it says. I wonder if this guy said to buy stocks at Dow 11,000? I don't own a single share of stock. I did not lose my shirt.

    January 4, 2009 at 10:53 am |
  17. Lorelei

    You're wrong that no one escaped unscathed. Gold gained 6%. Paper money and anything denominated in dollars is going to continue to lose purchasing power as inflation worsens because paper dollars will be printed to bail out the government's excesses. Gold was $35 an ounce in 1970. You could buy an average new car for 100 oz. of gold. Today (gold is $850) you can buy a new car for just 26 oz. of gold. The dollar? What took $3500 to buy an average new car in 1970 now takes $22,000. So what if gold earns no interest–it more than holds its purchasing power while the dollar sinks. Anyone who saves money in dollars long term is going in the wrong direction. No paper currency has ever survived–ever.

    January 4, 2009 at 10:51 am |
  18. Pamela

    Completing Step 1 alone is going to take great discipline.

    January 4, 2009 at 10:50 am |
  19. Dave


    Look up global warming and do some research on what it truly means before you make ignorant posts. Global warming is occurring, what this means is that climate change (ie, the earth's surface temps, currents, etc) also occur, areas that are cold and wet, will get colder and wettter during the winter months, and will be faced with a longer then "normal" winter season. Conversely regions that are hot and dry, will likely get hotter, have longer summers, and be much drier (look up the rate of desertification in the worlds desert regions). Cycles of global warming and cooling have occurred on this planet since the beginning of time.

    As far as industries becoming more eco friendly is concerned, it can only help business in the long run to invest in sustainable resources. Place yourself as a business owner, does it make sense to pay a bit extra now to ensure your viability for the future, or would you rather scrimp and just make do with today and not think about tomorrow. The simple fact of the matter is landfills are filling up at a rapid pace, America is the worlds largest consumer, and the largest waste producer, but has a relatively small population. If it takes a scare of global warming to wake us up and realize we can't keep spoiling our bed if we want to sleep in it, then so be it. It is ignorance that halts progression.

    January 4, 2009 at 10:47 am |
  20. Jeff Cumberland

    My grandmother who came of age in the first Great Depression always told us to "work like the Dickens, and save every dime". that sure was corny advice. does anybody else really have anything better to suggest?

    January 4, 2009 at 10:43 am |
  21. Shirley Moon

    Your article has one fatal flaw. Not everyone lost their shirt last year. In June 2007, my husband, who trusts no one, started making some good returns on investments. By October 2007, we were up quite a bit. By mid to late November 2007, we lost 1/3 of what we had made in the 6 months prior. So, we made a decision to pull all out of the market. Boy are we glad. It has never gone up since then. We could make this decision by looking at moving averages. All this advise to always stay in the market is hodgewash. Now, we are slowing getting back in and watching very carefully. We are 3 years away from retiring and do not want to have to continue to work because we lost money in the market.

    January 4, 2009 at 10:41 am |
  22. andi

    We did not lose a single penny in this meltdown because we saw this coming. Coming from California, it didn't take a rocket scientist to look around and figure out that the house of cards being built on real estate there was about to collapse. We left before the crash and moved to one of the few places that didn't tank. We hate it here, but at least we somehow saved our equity. Took all money out of the market because be saw things starting to crumble. We were very lucky I guess.

    I think the minute the market goes up enough for them to have regained their losses, everyone is going to cash out immediately and we will see another crash.

    Spouse works for Morgan Stanley. The head people there say 2009 is going to be WORSE than 2008. The lead (world) real estate predictors say foreclosures are really going to skyrocket and the market will continue to collapse, more job losses, etc... I may be losing out on some gains, but I'm a small player and can't afford to lose what we do have. FOr most people, they can't afford to lose what they have left.

    January 4, 2009 at 10:37 am |
  23. Richard

    Entering the market now would be like trying to catch a falling knife. We have not yet hit bottom in the markets. It's going to get a lot worse before it gets any better. Be patient. Wait for the volatility to be shaken out of the markets. When we get back into a pattern where the markets are moving small fractions of a percentage each day, instead of 2% to 4% each day, for a month, or two, then will be the time to start testing the waters in the markets – but, not time to plunge all your funds in at once.

    January 4, 2009 at 10:36 am |
  24. JJ

    My concern is that the 08 equity losses will significantly reduce the 09 tax revenue, especially corporations. That said, the Fed. Bailout will be further stressed if any receiver defaults coupled with the less than 09 tax than in 08.

    Also I would like to see the "Lower of Cost or Market" accounting rule removed from debt securities. But I don't know how we should evaluate them if it is removed. Going back to their orginal cost would create a mess.

    January 4, 2009 at 10:30 am |
  25. Steve Molter

    my investment in high grade shotguns and Colt pistols has increased at an incredible rate. my Wall St investments have allowed white collar criminals to live in mansions up and down the East Coast while I watch my wealth go down the drain. Please explain exactly WHO I should trust with my portfolio and where the cash will come from to invest. Otherwise please stop with the elitist advice that is being spewed forth to once again fleece the working class.

    January 4, 2009 at 10:26 am |
  26. Jim

    To some of us, this most recent economic downturn was just simply the last insult in a long line of declines going all the way back to 2001. Remember the tech bubble burst? I have not had regular employment in the supposedly growing tech job market since then. I have lost my home, wife, career, to say nothing of my savings. Do you want to know how much this year's decline hurt my life savings? Zero. None. I have no life savings. I have no job. I have no health care. And now I'm 55 years old trying to build another career. I made 9 thousand dollars last year. That's probably Anderson Cooper's lunch account for the month of January.
    The tone of this article is that one can rebuild one's wealth based on the assumption of regular, uninterrupted employment. Please, help to unveil the real unemployment rate in this country. Hundreds of thousands of people have stopped looking for work not because it is not there, but because there is no work FOR THEM.

    January 20th and Barack Obama can not get here any sooner. It is time for the scales to fall from the eyes of our nation's leadership.

    January 4, 2009 at 10:20 am |
  27. Ange

    Personally, I'm done with the market...can't afford to lose any more money!

    January 4, 2009 at 10:15 am |
  28. Eric P

    People need to know that there is no guantee that "in the long term" stocks will go up. Where is the evidence for this? There can be no certainty. History cannot be used as evidence for the future. History and future are by definition different things. Unless someone can undeniably prove with evidence that both the united states and the stock market will even exist in the future, the long term appreciation arguement holds no water. The future is inherantly unpredictable.

    January 4, 2009 at 10:08 am |
  29. Joe

    When you're in a panic because you've lost your shirt is NOT the time to be changing your strategy.

    January 4, 2009 at 9:44 am |
  30. Mac Lorry

    Ali Velshi's assertion that "Even if you followed all the rules and diversified your savings, you lost 30-40% or more in 2008. Virtually nothing could have saved you" IS INCORRECT. I made money in 2008, only about 3%, but that’s 33 to 43% better than Velshi thinks was possible. Given Velshi’s assertion is wrong there's no reason to believe his advice is correct. Now I could tell everyone how I made money in 2008, but I'm not getting paid to give that advice. My point is that 2008 proved once again that so-called experts don't know what they are talking about, they just talk loud and a lot. 2009 will prove even more decisively that these so-called experts don’t have a clue. Follower their advice and you'll lose your pants as well as your shirt.

    January 4, 2009 at 9:40 am |
  31. Richie

    You guys took what you had in your hand and ran after a bird in the bush.Dont cry now if you lost both.A bird in the hand is worth two in the bush.Hope you are wiser now.

    January 4, 2009 at 9:33 am |
  32. Larry

    The signs were all there over a year ago that our economic windfall could not be maintained. I took most of my money out of the market at that time and placed it in a secured interest bearing account. I'm glad I did as I've lost very little through all of this. I always assume that nothing is guaranteed in life.

    January 4, 2009 at 9:32 am |
  33. Charlane

    I must admit I was not hit hard as I had no holdings other than through my RRSP's (Canadian version of an IRA I believe), which lost some earnings but my principal investment is in tact. I hear so much talk about investing back into the markets but the people of the US and Canada are incredibly debt ridden. How many pulled out the plastic this past Christmas? If you have debt, pay it off first. My annual bonus is going into my RRSP which will give me a tax return, which will go to pay off the last bit of a car loan. Then that payment can go into savings so I can hopefully avoid another car loan in a few years. I have no plastic debt. How many actually have an emergency savings fund? If I were debt free and had sufficient savings then absolutely I would want to try my hand at the markets, but I doubt the average American or Canadian is in this position.

    January 4, 2009 at 9:30 am |
  34. matthurlbut1@msn.com

    What money to invest? You mean the $200 month I have left after expenses designated for groceries?
    "Barely squeeking by in rural midwest"

    January 4, 2009 at 9:22 am |
  35. gary

    Please everyone, don't listen to any of these so called experts. I've been putting weight into what they say for years, since they were all gaga about tech stocks back in 2000. It got me a lot poorer than had I kept all my money in CDs.They make big money doing this and the DO NOT care about you or anyone else.The only good advise I ever got from anyone was from my mom and she died 10 years ago.If we have learned anything this past year is that they all lie ,cheat and steal.
    STAY AWAY. Your better off buying a lottery ticket.

    January 4, 2009 at 9:07 am |
  36. Patrick Dewar

    Until regulators give some solid evidence that a clean up of the greedy bunch on Wall street is under way, you may as well spray your dollars with a fine mist and put it under your bed, it will multiply faster...we don't get fooled again. from Toronto Canada

    January 4, 2009 at 8:23 am |
  37. OAG

    Being in the minority of all of the boards I visit (all cash in FDIC Insured CD Ladders out 7 years; paying a guaranteed average return of 5.7%) . I have been in CD's for the past 30 years. Never a down year, never a loss of interest or principal. Stock Market who needs it. And before any Financial Guru pipes up about it – inflation (officially) has been an average of 3.1% per year over the past 30 years. How many years is it going to take to recover the average LOSS of 40%? A 40% loss must be followed by an approximately 65% gain to be EVEN add the desired return of 8% that people look for in the stock market and the GAIN over the next TWO years mus be about 81% – IMHO it is not going to happen.

    January 4, 2009 at 8:18 am |
  38. David

    At this point it's too late to say who's right and who's wrong, it's a mattter of who's smart. If you were in the the jungle (and smart), you would not poke a lion armed only with a stick.

    January 4, 2009 at 8:17 am |
  39. Dave Hippo

    I like Steve Martin's financial advice:

    How to become a millionaire
    1. Get a million dollars.

    January 4, 2009 at 8:14 am |
  40. Rick Douglas

    Something important and not addressed in either the article or comments is "dollar cost averaging". It simply means to invest in increments. Your purchases today garner more shares because of a down market. Theoretically, you're buying on the way up instead of waiting too long and buying at high points. Even though the market remains unstable, we'll be viewing these times in the future as great buying opportunities.

    January 4, 2009 at 8:07 am |
  41. Alan Norris

    We know the basic reasons the stock market went bad have to do with fraud on the part of the rating companies, lack of oversite by regulators, and gross manipulation on the part of big stock players. (ever seen a company the naked short sellers set their sights on?) The problem is, none of these problems has been fixed. I saw a clip of the presidents of the top three rating companies telling congress that they "promise to do better". Are you kidding me? How the main culprits are not only excused, but coddled by politicians is disgusting. Brokerages, Rating Agencies, Banks, and Auditors (did we forget Enron?) that have built in conflicts-of-interest have not changed or been reined in. Until they are, we will see wild fluctuations in the market, and further losses. The sad thing is that all of this has little to do with the actual value of many fine companies that still produce the products as they always have.

    January 4, 2009 at 7:58 am |
  42. Jay

    I object to the comment that "You could not have escaped 2008 unscathed." For the few of us that actually understand how to read SEC filings and aviod the bullish media bias along with the no place else to put our money comments that were never ending during the previous years, the 2008 mess created opportunities that only come around once or twice a decade. People are over reacting to this mess that was caused by one thing--OVER LEVERAGE! We were never "awash in cash." Brokerage firms were allowed to have $40 of debt for every $1 of equity. Banks were allowed to lend $14 for every $1 of equity in geographic areas that they had no underwriting control. We are in the painful process of deleveraging. Its not the end of the world. Its a return to the real world. But it will take time.

    January 4, 2009 at 7:49 am |
  43. Al

    Wall Street is only for riches to get richer. While money managers and may be top 2% make billions, most people will loose. I have lost 30% of my savings, 40% of my 401K and 30% of my property value. This is 25 years of my work to feed the cheeters. Stop pumping the market. I know some people have to make money from drawing investment into the market, but we can't allow them to take us for ride again.

    January 4, 2009 at 7:30 am |
  44. Aaron

    I saw the writing on the wall in January and pulled everything out of stocks. My IRA escaped the carnage with everything sitting in a cash account because I kicked myself for not doing it during the dot bomb crash.

    Bill, what are you yammering on about?

    January 4, 2009 at 7:12 am |
  45. Alex de la Paz, Manila

    NOT TOO FAST! Unless you want to lose your pants too.
    If you buy in now, you give the sharks the opportunity to sell their holdings.
    BEAR TRAP, CAT BOUNCE, you name it. Its still downhill from here.

    January 4, 2009 at 7:07 am |
  46. Gordon Edwards

    Land, land, land.
    .Ask anyone you know who is long term financially successful , how much of their wealth was acquired through real estate.
    I will not be swindled and cheated again on stocks that are manipulated by corrupt people and organizations

    They can print more paper, but they can't make more land .

    January 4, 2009 at 6:44 am |
  47. Bob

    Bill, you're a tool. Never forget a republican administration did this.

    January 4, 2009 at 6:44 am |
  48. Bruce Bryant


    YES people have lost money, but to assume that their financial assets lost 30 to 40% is a bit much. My guess is that people have lost maybe HALF that much on average. No they have not done as badly as the indices. Personally, I am looking for more creative ways to maintain principle and to GROW wealth, and not be dependent upon corporations who over compensate their executives, managers, and spoiled Union workers (who are lucky to find their way home after work).

    January 4, 2009 at 6:40 am |
  49. oblio

    All my money's in real estate and most of it hasn't gone down much. I'm planning to buy more. The market (stocks and real estate) was inflated and this correction is good. It's a bad time to sell, so don't sell. It's a great time to buy but if you don't have enough to buy then it's always a great time to save your money.

    January 4, 2009 at 6:37 am |
  50. jasbir

    you seem like a very effective expert in this field...how well did you in the 2008 market?do you follow your own advise?who do you trust?
    so many myths have been shattered and so much trust in the system has been lost in the year 2008... the worst in our memory...
    let us hope we all make 2009 a better one
    be honest with us and your self when you give us the advise

    January 4, 2009 at 6:30 am |
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