With recent changes to the economy along with instruction from religious leaders telling me to prepare for hard times, I'm having a difficult time trying to save money and create a generous supply of food storage should we be hit by any great catastrophe. I've turned to penny pinching in every aspect of my life. As you may have already noticed, I am now hand making all my bedding, I've turned to making my own bread, and I'm considering selling my hair like Jo in Little Woman. Any takers? (Jo got $25 so I would at least expect $2,500 with inflation and all)
Because I'm looking to save in every place I can, I took a serious look at my paycheck and discovered something that I am paying for that I may not necessarily ever use. Read an email exchange with my broker as I asked for her advice on this matter.
(I've removed some content to protect my investments)
To: Ashle* H***** at Fidelity Investments
From: Sar* Ba*****
Subject: financial question
So, if the second coming happens in my lifetime, what’s going to happen to my 401(k) account? I’m seriously considering stopping my contributions. I could totally use the money now.
To: Sar* Ba*****
From: Ashle* H****** at Fidelity Investments
Subject: RE: financial questions
Right now is the best time to be investing. The market is so cheap at the moment. Guaranteed your 401k is down for the year but the more shares you obtain the better for future growth. Here's my thoughts on the second coming. When the Lord comes again (hopefully soon and in our lifetime) we will be living for an extra long time. We will need even more money! If you stop purchasing into your 401k now you will definitely start investing when the market comes back and therefore be buying at a high. I want you and *(your honey) to retire as early as you possibly can so you can go on a mission and further the Lord's work. You will be forever grateful for any and all money you put aside.
What would you spend the money on anyway?
*Names are being protected
To: Ashle* H***** at Fidelity Investments
From: Sar* Ba*****
Subject: RE: RE: financial question
I would probably spend my weekly contribution on frivolous items such as toothpaste, food, and the occasional bouquet of flowers to friends.
I'm actually not kidding about the toothpaste, I keep forgetting to buy some and I'm slowly using up my collection of free samples from hotels.
She had no response to that one. Technically I know that she is just offering her advice, but I still think I'm right and she is completely out of touch with reality (no offense Ash, not all of us can be world travelers like you)! I could put the money I am currently contributing in my 401(k) plan towards stocking up my food storage and the occasional new pair of shoes.
Am I right or am I right?
And I'm Back!
16 years ago
7 comments:
Yeah. I keep hearing that too. Just make sure you're not investing all your money in natural resources like gas. That one keeps going down. (personal experience...:))
*a**, maybe I am out of touch. Let me think. Nope I'm not. If you want to beef up your food storage I fully support that endeavor. However, you can probably find a way to do both.
--Your investment broker A****y
P.S. Remember the time we were freshman roommates and you ran up your credit cards buying winter clothing from J. Crew? Good times.
In my defense, I didn't spend all my credit cards at J.Crew and even the First Lady Elect shops there so I was just preparing for when I'm president of the united states.
Whatever you do with your money, don't put it under your matteress. The bed bugs might take it!
A****y is right, it's best to put money in the 401K right now because the market is at a low. In the words of Buffet "Buy when others are afraid and sell when other are confident".
If you want, you can be right also. Food storage is always a good investment :)
You are too funny! Sorry that I had a good laugh at your economic crisis. I'm sure you could wonder around in the hotels down on the strip and if you bump into housekeeping their could hook you up with some toothpaste.
Todd's new theory is that we should invest in guns rather than our 401k because Obama is going to change all the weapons legislation so they will become rare...Hence the reason he is not my financial advisor!
Seriously, Sara. I'm a little disappointed ...With Pulte's match and the fact that you are buying while it's down (remember dollar cost averaging?)...you know this stuff...
Now clip yourself a coupon and find a sale and go get some toothpaste, ya dork. I, unlike the rest of these people who might not know what you make, know you can afford it! It's Thanksgiving time...remember all the things you have to be thankful for. As broke as we might feel, the world is full of people who see us like we see millionaires.
I'll get down now :-)
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