Some of the most crucial actions require pushing yourself to stay committed to all the smart moves you have already made but may now be questioning. I know many of you are thinking there is no point in continuing to invest for retirement as long as the markets are down. Big, big mistake. Now is an incredibly smart time to invest for retirement, because the markets are down—assuming, of course, you have at least 10 years until you will nee d that money. Same goes for your 529 college savings plan for a young child.
There is to be no curling up in a fetal position on the couch in 2009 hoping that when you emerge the crisis will have passed. No assuming that there is a government bailout or Wall Street rally right around the corner that will fix everything for you without any effort on your part. You will have to get off the couch and take control of your financial life in 2009. Make that commitment this year and you will build a solid financial foundation that you can stand on when everything around you is crumbling and that you can build on when the good times return.
Related Resources
From The Oprah Winfrey Show Best Life Week: Your Money Plan 2009
From Oprah's Best Life Series Live Your Best Life
Please note: This is general information and is not intended to be legal advice. You should consult with your own financial advisor before making any major financial decisions, including investments or changes to your portfolio, and a qualified legal professional before executing any legal documents or taking any legal action. Harpo Productions, Inc. and its affiliated companies and entities is not responsible for any losses, damages or claims that may result from your financial or legal decisions.
