still breathing. or trying to.
If you have a 401K, today is not the day to see how it’s doing. Those who haven’t seen the news, the stock market suffered a nearly 778-point drop making this the worst single-day point loss ever. And it’s not just the US stock market that has suffered but others around the world.
I’m young, so I know I have time on my side. But I feel sick over the millions of retired people who are watching their life savings disappear and not knowing how they will survive next month and the many months after.
If you’re not sure what you can do to start feeling more financially stable in these unsettling times, check out www.fitchratings.com. You can look up your bank’s ratings and outlook (go to Financial Institutions > Banks > Issuer List). They spelled out WaMu’s failure well in advance. And the FDIC has information about what happens when a bank fails for those interested (WaMu actually officially failed before it was bought – 29 have failed this year).
On a totally lighter and unrelated note, it really sucks when the Monk theme song gets stuck in your head! Damn you Randy Newman!
