Sentinel Help Team: How should I manage my money now?

Q: With the stock market on a roller-coaster ride and the economy faltering, should I be socking away more cash in my savings account? It depends on how much you already have in the bank. Full Story

Level 1

Since: Jul 07

Orlando

#2 Sep 19, 2008
Cash out what is left of your 401K and go long in oil. That is the only solid investment for at least the next four months.
Why

Orlando, FL

#3 Sep 19, 2008
I'm always curious about people who call this publication a rag... why do you bother to read it if it's such a piece of trash? Why not spend your time on something you consider worthy of your attention?
Cathy

Merritt Island, FL

#6 Sep 19, 2008
The current economy is a stressful thing but I don't think its all bad. Most of us live too high above our means anyway and we don't need all that junk to make us happy. Check out storyofstuff.org . You will be happier with less and it will be better for the environment. I'm an engineer yet I drive the worst car on the road. It doesn't matter to me. I don't feel the need to impress others with my money and things. It's a much happier way of life.
jai01

United States

#7 Sep 19, 2008
The writer of this article is telling you to use a HELOC to pay off your credit cards?? That's the dumbest thing you could do.#1) You are "securing" your credit card debt with your house, when most credit card debt is unsecure and #2) You are paying of debt with more debt. You would be better off establishing a small emergency fund and using all of the extra money you can find to pay off the credit cards.
Not Far From There

San Antonio, TX

#8 Sep 19, 2008
Those of us who have lived within our means in order to save money for retirement as well as having additional savings for when finances get tight have nothing to worry about. I have no debt except my mortgage--a 30 year loan taken 10 years ago that I've paid down to have only five years left on. I have a 401K and IRA, and savings in the bank.

I'm not rich by any means, but I don't live like I am. There's no expensive gas guzzling SUV in my driveway. Instead I drive a long ago paid for eight year old car that gets 35 mpg. I live in a modest home rather than some McMansion--the realtor couldn't believe that I chose a home that was only about 40% of what I qualified to buy. Why not? I suited me, I liked the neighborhood, and it was in good condition.

I have no big wide screen TV's, no expensive gaming systems. My computer is a basic model that's now going on four years old--it does what I need it to do. I ride my bike to a lot of my errands--it saves gas and is good excercise.

I grow tomatoes, peppers, green beans, and pineapples in pots outside by back door, and have a couple of orange trees in my yard. This allows me fresh fruits and vegtables for free year round. I use my ceiling fans instead of running the air conditioning as often as possible, and never set the A/C under 78 or the heat over 72. I wash most of my laundry in cold water. I have CFB's in my lights. I've compared my bills with my neighbors, and I'm spending at least $200 a month less on utilities than any of them.

People have gotten greedy with everything from their energy use to their want for more "junk." I've done just the opposite, I've rid my life of "junk." Instead of watching TV I read books borrowed from the library. A group of like-minded friends and I stopped going out to expensive dinners two years ago and now rotate our dinner around our homes and everybody contributes something. Instead of spending $50 eating out, it's closer to $10 to make whatever I'm bringing to that dinner. Instead of expensive Saturdays at the mall, my friends and I do volunteer work.

There are lots of ways to save money and live well. Living well doesn't mean spending money. Unfortunately that's something this materialistic society has lost track of.

“Dare to be stupid!”

Since: Dec 06

Groveland, Florida

#9 Sep 19, 2008
jai01 wrote:
The writer of this article is telling you to use a HELOC to pay off your credit cards?? That's the dumbest thing you could do.#1) You are "securing" your credit card debt with your house, when most credit card debt is unsecure and #2) You are paying of debt with more debt. You would be better off establishing a small emergency fund and using all of the extra money you can find to pay off the credit cards.
A HELOC is stupid if you have credit cards like you said. You loose your job and cannot afford to pay the HELOC and than you loose your home. Better to tell the credit cards to pound sand. In Florida you can go bankrupt and they cannot take your home nor your 401K.
Not Far From There

San Antonio, TX

#10 Sep 19, 2008
Actually they can take your home under some circumstances. If you have lived in it less than three year and a few months (I can't recall the exact number of months) and have more than $125,000 in equity, the bankruptcy homestead exemption doesn't apply, and the court or trustee may order your home to be sold to repay your creditors.

They can also take your home if you are found guilty of fraud in regard to a bankruptcy filing, or under certain other conditions.
mosco

Winter Garden, FL

#12 Sep 19, 2008
TO NOT FAR FROM THERE: What you rant is not the point. Others screwed up big time and we are bailing them out. The warnings were out for decades. In the end, the Federal Reserve will own the nation. and the owners of the Federal Reserve will institute the New World Order wholly. If you are religious, be wary. If you are not religious, will world leaders be benign?
Gloom and Doom

Silver Spring, MD

#13 Sep 19, 2008
Pelosi and Reid are idiots. They have failed to live up to their oath to protect and defend the Constitution. They should be arrested and thrown in jail. Congress should hold the purse strings. They were crying they didn't know what to do. Someone (they) threw billions away on the bailouts without even telling Congress. Who in the hell are "they". Unelected folks printing gobs of money to bail firm's out. They actually "Nationalized" private firms this week. Their buddy China also does that. There is nothing in the Constitution about a Federal Reserve Bank (private bank) or a Central Bank anywhere in the Constitution. They are wiping their butts with it and it is covered in hash marks. Hide you money. If the money changers don't steal if from you Obungholeus will tax it away from you. Fits right into his Socialist America Plan. All those fools say "what's another trillion dollars". That makes the National Debe about 10 trillion dollars now. You won't see any of these numbers on the 4 sets of books Uncle Sammy is currently keeping. To all these stupid young cell phone suckers who intend to vote for Obungholeus. He will tax you to death, you will never get ahead, you will live in a socialist state getting handouts from Uncle. FYI - There is no Social Security Trust Fund. It's gone, they spent it. His VP Biden states if you don't chip in and pay more taxes your not a patriot. This fool gave 3K to charity over severl years. Obuma's brother lives on a $1 a day. They won't spend their money but the sure do like to spend yours. America as we knew it is gone. I'm glad I have no grandchildren who's kids will have to suffer in a socialist state. We need to clean house while we can. Once they steal all your money, they will go after your guns next. Americans will be fighting in the streets within the next 20 years.
Not Far From There

San Antonio, TX

#14 Sep 19, 2008
mosco wrote:
TO NOT FAR FROM THERE: What you rant is not the point. Others screwed up big time and we are bailing them out. The warnings were out for decades. In the end, the Federal Reserve will own the nation. and the owners of the Federal Reserve will institute the New World Order wholly. If you are religious, be wary. If you are not religious, will world leaders be benign?
Actually it is ENTIRELY the point! From government to business to consumers, we've got to stop spending money we don't have for things we can't afford. Period! It's time to start making people take personal responsibility for themselves, and to hold corporate boards and our elected leaders personally responsible for their judgement.

Once that happens we won't have to worry about these bail outs. The corporate bail-outs we are seeing are no different than the welfare payment many people get in their EIC every year, and people who are allowed to declare bankruptcy and keep all the toys they've amassed.

It's called personal responsibility, and unfortunately it's something that seems to be lost--from teh top down.

Level 1

Since: Jul 07

Orlando

#17 Sep 21, 2008
pudbert_Savannah GA wrote:
I can't believe ANYONE would listen to the JOURNALSTS that can't from sentences half the time in their articles, let alone give financial advice to idiots that are too dumb to figure it out themselves..
Pot... kettle. Shouldn't you be in church?

Level 1

Since: Jul 07

Orlando

#19 Sep 21, 2008
pudbert_Savannah GA wrote:
<quoted text>
Shouldn't you be stealing other peoples taxes to ENABLE your voter base, like your libtard dummycrat SOCIALISTIC friends.
You know that if you don't go to church you will go to hell right? Hey man, I'm just trust trying to save your soul here.

Level 1

Since: Jul 07

Orlando

#21 Sep 21, 2008
pudbert_Savannah GA wrote:
<quoted text>
I don't know what Bible you're making up, but you sound exactly like what satan preaches..
P.S., Take hot dogs and marshmellows with you,, you'll need them sparky.
There's no room for great ignorance & the inability to learn in Heaven,, so you're pretty much screwed.
Well if that "Judge not lest ye be judged" part has any merit you'll be there too. I wonder: Is god Republican or Democrat? What do you think?

Level 1

Since: Jul 07

Orlando

#23 Sep 21, 2008
pudbert_Savannah GA wrote:
<quoted text>
What do you care, you don't believe in Him anyway.
And I PLAN on being judged, just like everybody else.
Probably why you're an "Atheist", so you don't THINK you'll have to be accountable for your ignorance.
For your sake let's hope god doesn't pull up the Topix message board. I don't think you would stand a chance if she did.

Level 1

Since: Jul 07

Orlando

#25 Sep 21, 2008
pudbert_Savannah GA wrote:
<quoted text>
I'm still trying to figure out your hypocrisy when you talk about "souls" when you suppposedly don't believe in God.. Pretty Hypocritical.
Unless you think that we EVOLVED our souls. Or somehow GREW them.
Face it, your Atheism is a juvenile cop-out for not wanting to be accountable.
I don't know why but I get a kick out of talking with people who believe in talking snakes. It's a nice distraction from the disaster our country is in due in part to someone who thinks he has a direct connection to god.
Thanks for the entertainment.

Level 1

Since: Jul 07

Orlando

#26 Sep 22, 2008
Orlando_Atheist wrote:
Cash out what is left of your 401K and go long in oil. That is the only solid investment for at least the next four months.
Today oil posted the biggest daily dollar gain ever.
Hope you took my advice.

“Dare to be stupid!”

Since: Dec 06

Groveland, Florida

#27 Sep 23, 2008
Orlando_Atheist wrote:
<quoted text>
Today oil posted the biggest daily dollar gain ever.
Hope you took my advice.
:.(
Melba

London, UK

#28 Mar 26, 2014
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