Well, I guess the news of my retirement has reached Wall Street. It seems people have lost faith in the financial pillars that support the economy. I pulled my money out of risky stock investments about 2 years ago, not because I saw a downturn ahead, but mostly because I didn't like the fact that other people were influencing the value of my investment. Once I got over the thrill of seeing my stock prices rise (and the artificial increase in my portfolio), I guess the fear of losing it all was more than I cared to risk.
I hope my family and friends aren't affected too much by the sliding economy. As much as I wish people would invest their money into something real, the lure of the consistent returns from mutual funds (and the ease of it) is too much. Plus, I don't want anybody blaming me if they were to follow my advice and then miss out on big gains.
But remember, you have to sell out at some point to realize those gains. I think it is too easy to "hang in there" until the market recovers to the high point in the past. Selling after the high point feels like selling at a loss. When your investment is at a high point, it is too difficult to give up - it's going up, and could keep going up! How terrible would it be to sell too early and miss out on an extra $1000?
I'm out of it. My goal is to be a Land Baron. 20 acres should do just fine.