Dow Closes at 9,955.50

For the first time in 4 years, has the DOW broken the psycological support level of 10,000. Where do we go from here? Economists portend, as do participants in the stock market, that what is going on today is a reflection of what we are likely to see in the future. Only the future is now. It is going to take longer than that to have all of this gut wrenching retirement plan wrecking market/economic activity to work itself out.

This is not a American problem folks, our friends across the Atlantic are going through the same pain and stabilization process to correct as we are. Even the Russian stock exchange halted trading twice today.

The market gave up $2.5 trillion in wealth today. That represents a lot of hopes for the future gone for now. Some of you were just recovering from the market collapse in 2001 and haven’t broken even yet. I read an article this weekend from a notable market analyst who said “buy and hold”. That may be fine for a young investor who has time for the market to turn around. For those who were relying on this for income because of a current or upcoming retirement, that strategy won’t do. If you are taking out money at the same rate of your portfolio as before the market collapse, you will find yourself depleting your retirement savings at a faster rate.

It’s time for a DEFENSIVE safe money portfolio review. Yes, there are still safe places to put your money and even get a 5% return guaranteed. Next you design the portfolio so you can never run out of money while receiving the highest income possible at lowest tax iiability. Call today.