I just scanned the headlines and recoiled at the financial top story - "Dow Jones drops 700 points" and "Worst Drop since Crash of 1987". There are not confidence inspiring words. After last week's almost-1000 point single day gain, we are once again reminded that these are very scary times.
Many have likened the stock market of late to a roller coaster ride. However, one major difference between a roller coaster and the stock market is that you can get off a roller coaster ride!
While I am fortunate to be young enough to (hopefully) ride out this economic maelstrom, several of my business colleagues are facing some real tough decisions. They are closer to retirement than I am and do not have the luxury of time to make up for recent losses. We are all scared to review our retirement account balance - but for those just a few years away from retirement - it must be doubly as scary.
Once again, I want to reiterate - I have faith in American ingenuity. We can, and will, figure a a course our of this "perfect storm". Americans have always risen up to meet any and all challenges thrown their way. This economic cycle is no different. We need to formulate our "D-Day" invasion and get it underway!
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