I took a vacation from the news today; didn't know about the stock market crash until The Husband came home and told me.
My GE stock took another hit today but that's okay with me -- I'm in for the long term and I've only invested fun money.
Because I wasn't watching the market today, I didn't take the steps necessary to fund my Sharebuilder account before closing time so I won't be making any additional purchases this week but tomorrow is payday so I'll probably transfer $200 from my checking account so I can make a buy next week if the price is right.
When The Daughter came home from swim practice this afternoon, she asked what the stock market woes mean for our family. I assured her that other than my fun money in GE (a topic the kids and I have discussed before), we don't have any money in stocks, bonds, or mutual funds. I explained that The Husband and I are both particularly financially conservative. Although she was content and bored by this point, I went on to explain a few details:
- When we bought our house 5 years ago we bought about 1/4 of the house we qualified for. We financed the house with a 30-year fixed 6% VA mortgage. We have put money into remodeling the house and are at a point where our investment is even with the current market value of the house; if housing prices dip further, well, you know.... But then we have no plans to move any time soon. We're not worried but we are carefully evaluating every penny we put into the house.
- I have an IRA (about $15,000), that, true to my conservative nature, I have invested in two different IRA CDs at an FDIC-insured bank.
- The Husband and I are the only two full-time employees of our corporation of a financially solvent company so our jobs are not at risk.
After assuring her that we weren't likely to become bankrupt and/or homeless in the next few weeks and boring her with the above details, I went on to explain that the economy is in serious trouble -- not just here in the US but internationally. Then I emphasized that times could get really, really tough for everyone.
If you enjoyed this post, make sure you subscribe to my RSS feed!
Related posts:
- $$: Paint & an Investment Funds Transfer
- Day 290: Stock Market, Gas, Shampoo, & Late Night Wendy’s
- $$: Groceries, Investment, & House Painting Services
- Burdened by Parents; Thwarted by Banks
- $$: GE Stock, Ballet Tickets, & Cell Phone
Subscribe in a reader or via Email
The Daughter asked about our Family’s Financial Health
I took a vacation from the news today; didn't know about the stock market crash until The Husband came home and told me.
My GE stock took another hit today but that's okay with me -- I'm in for the long term and I've only invested fun money.
Because I wasn't watching the market today, I didn't take the steps necessary to fund my Sharebuilder account before closing time so I won't be making any additional purchases this week but tomorrow is payday so I'll probably transfer $200 from my checking account so I can make a buy next week if the price is right.
When The Daughter came home from swim practice this afternoon, she asked what the stock market woes mean for our family. I assured her that other than my fun money in GE (a topic the kids and I have discussed before), we don't have any money in stocks, bonds, or mutual funds. I explained that The Husband and I are both particularly financially conservative. Although she was content and bored by this point, I went on to explain a few details:
After assuring her that we weren't likely to become bankrupt and/or homeless in the next few weeks and boring her with the above details, I went on to explain that the economy is in serious trouble -- not just here in the US but internationally. Then I emphasized that times could get really, really tough for everyone.
Related posts: