September 15, 2008
And the Hits Just Keep On Comin'
My business partner called me Sunday evening to fill me in on the goings-on over the weekend. Wall Street isn't much more than rubble these days, and the nation's financial landscape is downright ugly.
Today we witnessed the largest drop in the stock market since September 19th, 2001, the first day of trading after the attacks of 9/11/01. Stock portfolios, IRAs, and 401Ks are rapidly losing value. I refuse to even view my investments on-line anymore. The uncertainly of not knowing is preferable to the pain of knowing.
Where will it end? When do we hit the proverbial bottom? My IRA is worth less today than it was five years ago, and that's after annual contributions. Thankfully I'm still relatively young, but how does someone on the cusp of retirement deal with today's market?
I know this market is affecting everyone. I'm getting calls from marketing pieces I sent 6-9 months ago. Noteholders who refused to sell at a discount last year are coming to the realization that the longer they wait, the less valuable their cash flow becomes. The market is cruel, uncaring, and has the final say on all matters of value. Can you afford to sit it out?
If you're having trouble covering your monthly nut and hold a real estate note, give us a call to discuss. We'd love to try and help your cash flow situation.
Make it a great day.
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