Wednesday, October 1, 2008

The sky is falling!

Lifehacker has a great post on preparing for the financiapocalypse.

Cash
1. Make sure your bank accounts are FDIC-insured (this is almost always, always the case. Up to $100,000 per account is covered; if you've got more than that, why are you reading my blog?!).
2. Build a liquid emergency fund of several months' expenses in case of layoffs or other problems.

Investments
1. Do NOT let the market get to you (stop reading the news!). It can pretty much only go up from here, so particularly if you've got 10 years or more before retirement, let it gain back the ground you've lost. In fact, if you can afford it, invest MORE! (Remember, buy low, sell high!)

Career
1. Get ready to lose your job...and find a new one. I'm not focused on this, but for those in layoff-prone industries, it's really good advice.

That said, I will be taking a peek at my investments later today when I do my monthly net worth update. I'm nervous and excited at the same time--at least any drop in my net worth this time won't be my fault!

1 comment:

  1. I think I'm okay...but it's mainly because I make nothing (and I'm in graduate school).

    ReplyDelete

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