What good is a nest egg if you don’t have a nest!
October 16, 2008 – 8:35 am
Death becomes her
Much to my dismay, I walked out this morning to discover that all of my giant spiders had died. Of course most people would rejoice but I love these big girls. They cover my porches from April until now, creating seemingly endless entertainment for me and my friends. I even know people that feed theirs by throwing Palmetto bugs up into the webs. The upside is that (1) I can finally power wash my porch before the holidays and (2) I know that the egg sacs have already hatched full of baby spiders that will remain inside until next Spring. Just the same it was sad to see the old girls hanging there devoid of life. As I stood there examining her 5 inch body, I heard my mother say “This too shall pass.” Another voice added, “and a new generation will burst forth from the old.”
Given our current state of economic upheaval, I couldn’t help but see the metaphor. I hope that some of you have heeded my advice and moved some of your riskiest accounts to Treasury-only securities or guaranteed interest savings accounts. Remember the key right now is a return of your money not on your money!
What good is a nest egg without a nest!
For those of you are still building your nest egg, please keep in mind that you have to have a nest in which to place that egg. That means keeping your credit clean and paying down as much debt as you can. When the market rallied on Monday, the news didn’t report that the Bond Market crashed. How that will play out is anyone’s guess, but my sources are telling me that it will mean changes to your credit card statements, possibly in the form of increased minimum payments, late payment penalties, over limit fees, etc. and/or decreases in credit limits.
For more information, please go to www.moneyandmarkets.com
Until then, take care of your cash and keep your credit clean!
