Answer : First, keep in mind that these markets can come back completely. Impulsive moves may be too reactive.  If you’re planning to draw money during retirement over a 20+ year period, I do not recommend any changes to your plans. In my book I offera step-by-step approach for allocating your money.  It’s about buying what’s low and selling what’s high.  That’s the way to make money.  And keep contributing money.  So many people stop contributing when the market goes down.  This is irrational!  Keep contributing and contribute even more when the market is low.  Find work that you love so that even if you don’t have sufficient funds to retire, you’ll enjoy what  you do. 

More on the financial Crisis :

How will this bottom out and will it sit at the bottom for days, hours, weeks , or months?

Despite our financial problems in the US, Europe and Asia are experiencing as bad, if not worse, a crisis.

Traditionally the US has been seen as a safe haven.  This is still true and that’s why people are buying US treasuries; they are still considered the proverbial safe–money under your mattress as it were.

Gold and silver have come down because the dollar is getting stronger and people are buying dollars instead of gold and silver.  A stronger dollar diminishes the value of gold and silver as a safe haven.

Brian, it’s hard to say how long this will last.  This recovery will be quicker than that of the Great Depression. But it still may last a few years.

~Spencer

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