Tuesday, August 9, 2011

Tanking ---

Yesterday was absolutely brutal. In terms of investments at least. I'm sure I'm not the only one that just cringed as I watched the stock market events unfold. As those tickers kept plunging, I finally just quit watching for a while. I couldn't do anything about it, so I took the bury my head in the sand for a while approach.

Of course, by now, curiosity got the best of me, so I went online and checked my investment accounts. It ain't pretty. Princess Penelope's college fund --- down 11% (In the past week it lost every penny I've put into it this year). My IRA -- down approximately 25% --- this doesn't have a lot in it so it is a more aggressive portfolio --- I think I'm just going to not look at that one for a while. My 401(k) --- down 15%.

The numbers are ugly --- and extremely disheartening! All projections also seem to be that credit card rates are going to jump, as will mortgage interest rates. It has become important, now, more than ever to eliminate that credit card debt! I HAVE to be out from under that before Princess Penelope starts college as I can see that my savings for it won't be what I'd hoped they would be.

Home ownership may be completely out of the question for a while. I can be okay with that! I just don't want extra debt for college.

Time to get Gazelle intense!!!!!


  1. I didn't even look. Too scary.

  2. Take heart - what goes down comes back up though it may take some time. Hang in there for the long term - you'll be fine!

  3. I'm not as concerned with the 401k or the IRA as I am with the college account. Not a lot of time for that one to rebound! But today was at least a better day.