October 29th and We’re Still Here

October 29th, 1929 – The Crash.   Given all the comparisons of October 2008 to October 1929, you may have been worried that this is the day the other shoe would drop.

Well we made it through the day with several positive things to report.

1. The world didn’t end, at least based on what I can see from my window
2. The markets in general held pretty steady
3. The Fed lowered their overnight rate
4. Credit Markets showed signs of loosening up (especially commercial paper)
5. Several more congressmen held a meeting and demanded some answers

I just threw that last one in there to see if you were really reading.  Of course #5 doesn’t actually help us – at least they are active, I guess that’s a good sign.

The other items, though are generally good news.  The longer we survive and the economy keeps moving forward, the more likely the adjustments by the Fed, Treasury, FDIC, International Counterparts, etc will have a chance to show progress.

It is still a good time to act and put our own house in order – nearly everyone in this country should be scared enough to take steps to ensure their own success:

• Budget – make sure you have one
• Budget – spend less than you make, as long as you are looking at the budget anyway
• DEBT MANAGEMENT – the number one issue for most people that find themselves ‘worried’
• Mortgage Status – know your options, especially if you have ‘problem mortgage
• Safeguard Retirement Funds

If you are cash rich and income rich and your retirement income is guaranteed and safe, then….BUY!
There are plenty of bargains out there in Real Estate, Stocks, etc.
Just make sure to follow my 2 simple rules -  Be Safe and Make Good Decisions!