GirlTalk

http://www.redbookmag.com/money-career/money-saving-tips/money-smarts-investing

With the recent crash of the stock market on Oct. 10, I’ve really been getting into learning about the stock market. Prior to that, I had my company-sponsored401 (k) through work, and other than selecting some unknown places to put my money, I didn’t know what I was doing there.

I watch Suze Orman and Jim Cramer’s “Mad Money” on CNBC. Out of all the other talking heads on the financial channel, those two seem to me to be the most concerned with the average Joe, someone like me, who is not financially savvy. At all. I’m lucky I know how to balance my checkbook and hold onto a minimal savings account. But with my new-found financial experts, I’m learning, slowly. Day by day.

Not that I never wanted to learn the ins and outs of the market. I just never had the money to care about it before. And I’ve even owned shares of stock in Wal-Mart (worked there in 1990), AOL (through my husband’s job) and Enron (bought when they got taken over - which subsequently went totally out of business, eliminating the $200 investment I’d made).

The most that ever happened with my stocks was having to cash in my Wal-Mart stocks because I’d gone back to college and was low on daily living cash.
So much for my foray into investing.

But I’ve got to tell you (and I’m not a gambler). This stock market thing has really got me interested. Sure I’d like to make money quickly. But all my “experts” are saying that with the coming deep recession, that people just need to be concerned with the long term because the current economy is just too volatile.

So, I listen for the good stocks to consider for long term. Pondering my approaching retirement (in 20 years, if I’m lucky), I need to know what my 401 (k) is doing, other than losing 30 percent during this last year. I need to know what stocks the plan has and with my “expert” advise, I’ll consider changing where my money is allocated.

Allocated - not a term I use often. I’ve heard of it, but when did I ever need it?

See, I’m learning…