Friday, November 21, 2008
News It's the end of the world — have a great weekend!
Posted by Mara Shalhoup on Fri, Nov 21, 2008 at 9:08 PM
So I'm talking to this bankruptcy expert for an upcoming story, and I ask him if he has any tips he'd like to share for protecting your finances during these tough times.
Here's what he had to say:
If you didn’t position yourself before now, you’re not in very good shape to survive this. Now is too late. If you had a retirement plan or savings or investments in Wall Street, it needed to be balanced and it needed to be conservative. Sure, you’d take a hit — but not as a bad a hit as you did if you had everything invested in Citibank stock.Hold on for dear life. I feel like the sky is falling and we all need to run and get out of the way. This is a very, very, very bad situation. We’re in a death spiral, and I’m not sure if anybody’s going to be able to pull us out soon.
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