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2008 Stock Market Thus Far January 23, 2008

Posted by pf in Expenses and Savings.
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Thus far, this is the most brutal downturn that I can recall in my own limited experience.  Needless to say, I am fully expecting my networth update for January to be absolutely brutal. Last week, I went ahead and finalized our 2007 Roth IRA contributions based upon the declines we had seen already…little did I know there would be so much more!

Interestingly, I find myself a bit reluctant to check on my portfolio and see the carnage that has been wrought.  Either by choice or just my inaction, it seems I’ve decided to stay the course and continue to maintain my portfolio as-is including my regular contributions.  I think if I didn’t have such a large cash position these days, I would probably find myself feeling worse about the current state of things.  Also, there is a part of me wondering whether and / or when I should consider making a more significant investment…buying low as they say.

At this point, I’m remaining a bit philosophical about the whole bit and will continue to watch how things progress.  Mostly, I am interested in taking advantage of any opportunities that may reveal themselves in the coming months.  As I have excellent credit, little debt, and some available cash, I should be well positioned to do so.

I hope the rest of you are weathering the storm well.  I’m especially hopeful that those of you with debt will be able to leverage the declining interest rates to your advantage.  In particular, I think people would seriously consider mortgage refinance options that would include their outstanding debt.  It could do absolute wonders for your finances…provided you did not relapse into old habits and rack up new debts.

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