This past week I have not been in a blogging mood. Not because I have nothing to blog about but because I am highly pissed off, but the problem is that I am not sure WHOM I am pissed off at.
Let me explain, September came and went so fast I totally LOST that month between my two trips to Houston and being ill. October faired no better with my income tax woes and getting ready for the chili cook-off. Now here it is November with only ten days left before tumultuous December descends on us.
Upon my return from Terlingua I sat down and opened a lot of correspondence that I felt could wait until I got back. How WRONG I was!!! Or maybe how right because if I had opened it sooner I think it would have definitively RUINED my trip.
What the heck happened in September that could of caused my 401-K to look like a 101-K ??? I remember a few days of ups and downs in the stock market but then I thought it recuperated? I am middle class working gal that is temporarily retired so I can take care of my elderly mother and I certainly cannot take a 13 percent loss in my portfolio.
I do not like the uncertainty of the stock market but the government leaves me NO CHOICE, my hard earned money has to be with an accredited financial institution or brokerage firm until I am of retirement age to begin withdrawals and at this pace I am not going to have anything to withdraw.
At this time of my life I cannot be in an aggressive investment strategy that is why I am so shocked at how much I lost in September. Which leads me to another question, how much do you trust your financial advisor? Are there other Bernie Madoff’s out there? Do you all understand your monthly statements or is it like a maze? I think they make them confusing on purpose.
Thus you can see I am quite angry but I don’t know if I should be angry with myself, my financial advisor, the stock market or WHOM? I have always been a saver and I think I manage what little money I have quite well so this is really eating up at me and has for the past couple of days.
I will be calling my financial advisor tomorrow but is that going to bring back what I have lost? NO. Is he trying to swindle me? Who knows.
For the people who moved their 401-k plans from your former employer to a brokerage firm are you happy with them? Would you recommend them? What advice can you offer me?
I don’t think I will be having Terlingua Dreams tonight…more like WALL STREET NIGHTMARES…grrrr!!!!
13% is much, but as always, the stock market will bounce back. Not sure how my portfolio is doing, but the stocks I have in another account have only gone down like 8%. Everything affects the stock market, especially speeches by Obama. Every time he stands before his teleprompter, the stock market takes a hit.
ReplyDeleteJust hang in there girl, things are gonna be better.
Email sent MsB..
ReplyDeleteThat is just it Billy Bob every time the market goes down he tells me it is going to bounce back and it does but I have less money now than when I started investing with him 11 years ago. Something ain't right :(
ReplyDeleteI got it Ben thank you.
ReplyDeleteMsBelinda,
ReplyDeleteI don't think anyone knows what to invest in or when to do it. Who you give your money to for them to invest is just as much of a gamble as the investment.
If you know nothing about investing your money then you are at the mercy of the person that does so for you and at the mercy of the market in general.
I personally like to have a directed account; that eliminates the guy in the middle. If I'm directing the account and I loose money then it is my fault! I made a bad decision or the market went somewhere that I could not see it going. If I make money then I'm the genius that made it happen. HA HA
So true Edlfrey, we are certainly at the mercy of the person that does our investment and of the market.
ReplyDelete