Your Recession Survival Saving And Investing Questions Answered
The current global economic crisis has people frightened and confused about their personal finances. Recession Survival requires you to have accurate answers to your questions about saving and investing.
This recession may very well be turning into a long term financial meltdown. Bank failures are increasing at a rapid rate and unemployment rates rise every month. It's no wonder people are scared and confused about their savings and investments. " How safe is my money?" is the question that seems to be on everyone's lips these days.
I believe knowledge is power and the answers provided in this lens will help you get out of panic mode so you can concentrate on keeping your money as safe as possible.
The Recession Survival Guide will help you make smart decisions about saving and investing.
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Contents at a Glance
- So Many Banks Are Failing. Should I Take My Money Out ?
- What If My Bank Fails?
- Are My Bank Accounts Really Safe?
Inside The Recession Survival Guide To Saving And Investing
- So Many Banks Are Failing. Should I Take My Money Out ?
- What If My Bank Fails?
- Are My Bank Accounts Really Safe?
- My Money's In A Credit Union. Am I Insured?
- Should I Take My Money Out Of The Stock Market And Invest It Somewhere Else?
- A Quick Guide To Keeping Your Saving And Investing On Track
- Should Gold And Silver Be Part Of My Investing Plan?
- News About Investing In Gold And Silver
- Saving And Investing Are Essential To Your Recession Survival Plan
- More Lenses From The Recession Survival Guide
- Love This Lens? Rate It Here
- Share Your Saving And Investing Wisdom
- Bookmark This Lens
So Many Banks Are Failing. Should I Take My Money Out ?
Isn't It Better To Just Keep My Money Under My Mattress Or In A Safe?
Hiding money in a mattress might sound like a joke but there are actually "experts" who who have been advising people to do this. While it's understandable that people are nervous about the economy it's more important than ever to keep your money safe in an economic slump.
There are serious security problems with keeping large amounts of money around your house. It might not be a bad idea to have a little cash in a fireproof safe for emergencies like natural disasters. Please don't hide it under your mattress though.
If you have a fire or get robbed that money will likely be gone forever. Your insurance probably will not cover the loss.
Consult your insurance agent for details on what your policy covers.
There are serious security problems with keeping large amounts of money around your house. It might not be a bad idea to have a little cash in a fireproof safe for emergencies like natural disasters. Please don't hide it under your mattress though.
If you have a fire or get robbed that money will likely be gone forever. Your insurance probably will not cover the loss.
Consult your insurance agent for details on what your policy covers.
What If My Bank Fails?
Are My Deposits Insured?
If your money is in an FDIC insured account such as a savings account or a Certificate of Deposit(CD) it is covered up to $250,000 for each account. Money Market checking accounts are not covered by the FDIC. This means that if a bank fails, the depositors will be paid. Credit Union Deposits are covered by a similar agency called NCUA. For an explanation of FDIC insurance and its limits watch the following video. If you still have questions,consult your banker.
Are My Bank Accounts Really Safe?
This video will thoroughly explain The new FDIC insurance limits that were passed by Congress in early October 2008. It's a little long but it should answer any questions you may have about your bank accounts. If your money is in a Credit Union the next video is the one for you.
My Money's In A Credit Union. Am I Insured?
This video is just like the previous one except it covers the insurance provided by the National Credit Union Association or NCUA.
Should I Take My Money Out Of The Stock Market And Invest It Somewhere Else?
My Stock Investments Are Shrinking And I Don't Know What To Do
Honestly, this is a question only you can answer. It's true that the markets have been on a roller coaster lately. The rule of thumb is that if you'll need the money within 5 years it shouldn't be in the stock market. Your emergency fund and money for short term savings goals such as a down payment for a home should be in FDIC or NCUA insured products.
Money for retirement should be invested in an IRA or 401K account. Within these retirement funds you can choose from many different types of investments such as stocks, bonds and cash. Some experts don't advise buying stocks outside of retirement funds. Others say the low prices make it a great time to buy. Again only you can decide how much risk you're willing to tolerate.
Remember- stocks are for long term investments. If you"ll need the money within 5 years it shouldn't be in the stock market. Note: If you have questions about your investments you should consult your financial advisor.
Money for retirement should be invested in an IRA or 401K account. Within these retirement funds you can choose from many different types of investments such as stocks, bonds and cash. Some experts don't advise buying stocks outside of retirement funds. Others say the low prices make it a great time to buy. Again only you can decide how much risk you're willing to tolerate.
Remember- stocks are for long term investments. If you"ll need the money within 5 years it shouldn't be in the stock market. Note: If you have questions about your investments you should consult your financial advisor.
A Quick Guide To Keeping Your Saving And Investing On Track
This short video will give you an overview on saving and investing options for any economic conditions.
Should Gold And Silver Be Part Of My Investing Plan?
Do They Always Hold Their Value?
Gold and silver are never worthless. Right now precious metal values are at all time highs because of falling currency values. However, when world currency values are high gold and other metals tend to fall in value.The average 10 year rate of return for gold is 5%. For the stock market it's 8%. It might not be a bad idea to have some gold and silver in your investment portfolio, however, it probably would have been better to have bought it when the prices were lower.
It could be a good time to sell gold or silver that you've been holding on to for a while. Consult your financial advisor for advice on selling your assets.
News About Investing In Gold And Silver
Gold and Silver are soaring in value. Should gold and silver be part of your investments? Watch and decide for yourself.
Saving And Investing Are Essential To Your Recession Survival Plan
Being Smart About Your Finances Protects You From Economic Storms
It's inevitable that people will get scared and confused when when a financial crisis threatens. But continuing your saving and investing plan will pay off big when the recession is over and the economy turns around again. And you can rest assured that it will.
The Recession Survival Guide is an inexpensive download that will give you many more tips to help you not only survive but thrive in an economic crisis.
More Lenses From The Recession Survival Guide
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- totalhealth totalhealth Feb 17, 2009 @ 2:22 pm
- this lens provides a lot of insights.
5 stars fort a great post
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- Squidoo_For_You Squidoo_For_You Dec 24, 2008 @ 1:23 pm
- Your review of this book is excellent, well laid out and touches on many important questions at the moment. Thanks
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by RecessionSurvivalGuide
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