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Where to put your money…

March 4, 2010 · 0 comments

in Personal Finance

This post is more of a question than an answer.

I watch CNBC every morning while on the treadmill.  Each day, a different ‘expert’ gives an opinion on where our market is headed.  However, there never seems to be a consensus.  For every commentator that says ‘stocks are great, we are headed up’, there is someone else that says ‘ya gotta buy gold to protect yourself”.

I live in Michigan, where the economy is abysmal.  I have been focusing on reducing debt (mortgage) and building up as much cash as possible.  I have not been buying stock like I once did just because layoffs always seems to loom, and the equity in my house has plummeted.  I may be missing opportunity by using extra money to reduce debt on my low-interest rate mortgage.  But, the peace I feel for not being underwater on my home is worth more to me right now than the incremental money I could POSSIBLY make in the stock market.  Don’t get me wrong, I still own stock in my retirement accounts and some mutual funds.  However, for now, I am hesitant to jump right back into the market.

Maybe if I have any extra money at the end of the month, I will buy some gold and put it under my mattress…

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