Monday, December 1, 2008

DOWner

I'm so sick of hearing about the Dow (emphasis on "OW.")

A few months back I signed up to receive News Alert e-mails from the New York Times. Sometimes it's great; I like feeling like I'm "in the know" when a big news item shows up in my e-mail box.

Lately, though, a disproportionate number of these news alerts are related to the nauseating roller coaster that is our current stock market. Today at 3:30 p.m. I checked my e-mail and was greeted with the disheartening subject line, "News Alert: Dow Plunges 680 Points as Recession Is Declared."

Now, I agree. This is big news. Maybe I should be thinking more about the recession than I am. But it's easier not to dwell on it. I'm very thankful that while our wallets feel the stretch, The Engineer still has a job. What a disaster it would be if he lost his job--I'd have to come up with a new "blog name" for him!

And even that little joke is a great example of my desire not to think too hard about this awful recession we are in and how difficult it would be if my husband was numbered among the unemployed.

I'm blessed; our personal finances have plenty of time to recover, since The Engineer and I are in our 30s. I made the mistake the other day of opening his 401(k) statement. UGH. We have the strategy of just sitting and riding out the craziness for now, since (if God continues to bless us with job stability) most of the money we have in the market won't be needed for decades. Sometimes I'd prefer not to even open the statements, so that I don't see those dreadful minus signs showing our losses.

I don't know if ignoring it is the right thing to do, but for now I'm going to keep deleting those icky, DOWner e-mails, and hoping we're doing the right thing by staying the course. And then I'll get on with my day and try not to think too much about it.

How are you handling the economic mess?

10 comments:

Mike Fan said...

It's really depressing and distressing these days (no kidding). Recently my parents and I were puzzled over what to do after we learnt we were losing money on my university investments because the interest rates were very negative! I feel as if my family's in the same boat...we're sort of waiting, hoping it will resolve itself someday...although it might not.

Mike
http://365Sonnets.blogspot.com
http://SomeTurbidNight.blogspot.com
http://VoglioTempo.blogspot.com

Sandra said...

We are staying the course. Curiosity makes us look at the statements when they come but THEN we throw them in a drawer and don't look at them again. We definitely don't think this is the time to "run scared." In fact, we have talked about doing just a little cautious buying of some stocks that are really undervalued right now.

Jenners said...

I personally follow a "keep my head in the sand" approach to news items like this and other upsetting ones. Unless it is something I can do something about, I just prefer not to know. Ignorant, perhaps, but I tend to get really really down if I know too much about the bad stuff in the world. My husband tells me if something important happens that I really should know about. It is a choice to remain blissfully unaware, I think. Like that saying: Ignorance is bliss. As for the current financial mess, I just count my blessings, avoid looking at any 401(k) statements, and just hope for the best and prepare for the worst.

DiPaola Momma said...

It's been like a sickening rollercoaster ride you were forced onto.. and I HATE rollercoasters. I'm seriously considering taking the ticker off my home page.. especially after today!! RALPH, HURL, SPEW

Omah's Helping Hands said...

We're right there with you. We are riding it out for now. It will get better. The country has been here before. Granted this is the worst the Dow has been, but there is hope.

Hope in God. We have to believe He will take care of us. He never gives us more than we can handle. Although looking at the numbers and the statements with the minuses can make it hard to do.

I have to admit, I try to ignore it all at this point and time to avoid pannick and worry.

Lyndsay said...

Like Jenners, I prefer to keep my head in the sand. My mantra is maybe if I pretend it isn't happening ... it isn't. Now, I know that's not true, but I don't need to be depressed in the meantime - it's going to happen whether I get sick over it in the meantime, or not.

Delete the emails; don't open the statements. Period.

nopinkhere said...

I tend not to obsessively watch the market. Also, like y'all we shouldn't need our investments for decades. A lot can happen in that time.

Maybe you should get updates from the BBC news instead? Then you could worry about genocide instead of the markets. (not funny, I know.) I guess I feel like it's always something, and it's usually something you can't do much about directly.

Scriptor Senex said...

As one British Prime Minister (James Callaghan) famously said "Crisis, what crisis?" That's how I handle it!

Heard by God said...

By knowing it's going to upswing in the next 12-18 months or so . . . maybe more or less, who really can know. I just am confident it will upswing.

C. Beth said...

Mike--I sure hope your college savings rebounds!

Sandra--I think buying right now sounds like a great idea, non-expert that I am.

Jenners--Yes, ignorance is bliss!

DiPaola--Ew, I would not enjoy looking at a ticker all day, not these days! :)

Omah's HH--You're right; my provision does not come from the stock market but from the Lord--great reminder. Thanks. :)

Lyndsay--I'm glad you think the Delete button is a good idea too.

Nopinkhere--You're right, we can't do anything to really change it, frustratingly.

Scriptor--I like that quote!

Heard by God--I definitely hope you're right!