Now that the Dow is down somewhere around the 7,200 point mark, is anyone trying to get in on the cheaper prices?

I'm not an expert, but I've talked to my ROTH IRA managers as well as some friends who invest, and they all say now is the time if you have the money. Oh, I read an article saying that young folks should be 'dancing in the streets' because our investments have so much to gain.

I'm a poor, starving CFI, but I'm putting what little I have into my ROTH right now to make up some doubling times.

Thoughts? What are you doing?

What commission are you paying your money managers? Ask them if they are acting as your fiduciary. If not, why would you take their advice?

WW

I say the dow will drop to 6500 or under, just a guess but I'm not putting anything really in... the only thing I could see is something that Cramer had mentioned (not that I take his word for all that much - but he was right about the S&P)...about energy (maybe I'll ride the wave) I don't know... I don't trust too many people with my money, however if inflation takes a hike - we'll see..maybe some foreign currency?

I'll go ahead and put my tin-foil hat on now, but if everything goes south...

The new tax increase would tell me to sell if I wasn't in cash already. I have been saying 7000 dow for 6 months.... IF everything to boost the economy was done properly. IMHO TARP 1, Tarp 2, stimulus(porkulus) and now a tax increase will send the markets south another 20% at least. I WILL drop my income to below $250k by enjoying lots of time off, hire noone (carpenters, auto mechanics, etc to work on my stuff) and put off a couple of new cars. BUY??? YGBSM! These clowns just want your commissions! I'm hiding in my bunker with my tin hat on...... (BTW, I went cash at DOW 13000+)

Hello all,

From the sources I've talked to, excluding my financial advisors, they have said now is a good time to put money in. Of course my financial advisors said so as well. So I am a bit confused that you think now is bad.

My financial advisors sell American Funds. From my internet research I saw that American Funds was rated consistently in the number 1 through 3 spots for their various funds along with some quite good reviews. The sources did, however say that the price for such good performance was a higher percentage or load I believe, they keep.

I know my parents did well with this company, and now that I'm starting out in life, I am trying to get ahead of the curve.

Thanks for your input- I am listening...and to clarify, you honestly think now is a bad time to put money into a ROTH IRA? I thought I was going to do well with what I was putting in.

Yes, $500.00 per month - and I have a professional financial planner advising and managing for me.

The old saying goes something like this: "never gamble more than you can afford to lose". Now, the challenge is finding the fine line between what you can afford to lose and what you need to invest in order to profit handsomely when the market improves. Will the market improve to 10,000 or higher one day again? I don't know, but if it does I should see a significant return on investment - enough so that I'm willing to bet $500.00 per month that it will.

Have I shown a loss over the past year? Yes, but only on paper and only if I were to pull out now. The plan is to keep the money (and this is money other than my 401k) in the market for an indefinite amount of time and ride out the waves. Patience is the key.

So many times we hear people say something such as "if only I would have bought (insert time frame here)". The market is down because people are not putting money into the market - i.e., supply and demand. Hence, it is a buyer's market because the lack of demand has driven down prices.

I don't know if I would be dancing in the streets per say, but having time on your side is a huge advantage.

I'm glad you mentioned "commissions". DO NOT use a commission-based financial planner. I pay one flat fee per year and it is to the financial institution and not the planner himself.

Timing the market is a fools game.....

Take it from Warren Buffett..."Be fearful when others are greedy, and greedy when others are fearful."

He knows a thing or two about investing.

Floydbird, your quote is really what I feel like I should be doing now is buying because everyone else is selling and running scared. And so I am. And not that I'm timing the market exactly, but now seems to be a pretty good time, right???

Led Zep, thanks for your words. Also, nice name.

Lastly, and I feel like I'll take abuse for this; I know I don't pay the financial planner people directly. I know they get paid through American Funds somehow. I asked them once, and it made a little sense, but not much.

Anyways, my check should be posting to my IRA account early next week.

Best to all,

Thanks Block! Nice avatar.