Monday, September 29, 2008



Derek said...

I am right behind you. I need something fun to get me through these brutal days.

Carol Anne said...

Variation on old cliche ... when the going gets tough, the tough (get going) (go shopping) (go sailing).

Fallout from the market free-fall: Pat's retirement funds are in defined-contribution investments such as 401(k)s and 403(b)s and IRAs. Those funds are currently in a downturn, but by the time we retire, there's a near certainty of recovery. My retirement funds are in a defined-benefit plan, so what I get in retirement will depend not on how much money I put in (required by state law as 12% of every paycheck), but by what my pay level averages in the last 5 years before I retire.

Meanwhile, we have equity in two houses, and while the real-estate market has collapsed in some markets (most notably California, Florida, and Arizona), things in Albuquerque are relatively stable. The house across the street from us was on the market for only a week, and it sold for the asking price, more than a quarter million dollars. Given that our house is essentially similar to the one across the street, and we paid only $89K for it, I'd say we're doing all right.

So, yeah, there are some things we need to worry about. But I'm not going to let those worries prevent me from sailing.

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