On the Economy

A year ago during a discussion of family finances Husband asked me what I would do with regard to said finances should he die. I jokingly said that I'd hire a financial manager and sell all of our stocks...I was joking about the financial manager but not the stocks. Husband shook his head. I just read an article in the NY Times stating that charities are hurting...some having less than a month's working capital. Last year charitable giving was at an all time high according to the news especially to universities and colleges. What did they do with all that money?!!! Well, turns out it wasn't money they were being given, it was stocks, and even when it was money to begin with the receivers of the gifting were quickly turning it into stocks and other funds.

Since the tech boom of 1995 - 2001 (how could we not have foreseen the same thing happening?) I've been saying that those people who invest their retirements in the stock market are living on virtual money. Regardless of how high or low a stock goes it's worth only the amount you get when you cash it in.