What to Do in These Markets

« Who's to Blame for Oil's Price this Summer?

Pickens, Pataki Still Fighting the Fight for Alternative Energy »

October 21, 2008 06:52 PM EDT by Alexis Glick

What to Do in These Markets

Confused, scared, angry, frustrated? Don't know where to begin on preparing for your financial future? Need some good advice? Well, look no further. Two of the smartest people joined me this morning on Money for Breakfast with great investment tips, perspective on the volatility in the equity markets and how to prepare for retirement.

Let's start with retirement strategies. Lynne Ford, a senior VP with Wachovia's retirement group, had such outstanding advice about preparing for our financial futures. She was able to explain (in English!) why consulting with a personal financial planner is essential when preparing for retirement, especially given the fact that most people live 20 years past their retirement. Wachovia's (and now Wells Fargo's) retirement analysis and Lynne's many years of experience provide some terrific advice. Take a look.

Bob Doll, vice chairman and chief investment officer at BlackRock, joined me to offer his insight into investment opportunities, market volatility, and the potential second stimulus package. As always, he plays it straight down the middle. He sees opportunity in corporate bonds with multi-year or decade-high yields. He also suggests that a 3% yield on the S&P 500 is pretty compelling. Ironically, just moments before he joined me, Blackrock reported disappointing earnings and a decline of 12% in assets under management from Q2 to Q3. Not a huge surprise. Part of that due to declining market value and part due to redemption. Take a look.

4 Comments

6ftrabbit

"What to do in these markets?" Easy. Stay out of it. Get a job actually producing some useful product or service instead of gambling. Save some money for retirement, instead of blowing it on useless junk and entertainment 24/7.

October 22, 2008 at 8:59 am

Funny McJokeson

What to Do in These Markets? Buy stock in KY Brands?

October 22, 2008 at 9:41 am

walter

Several point: a) I agree that one must intelligently save for retirement. No question about it. b) I disagree with the statement that if you're 5 years or more from retirement just let your money ride through the turbulence. Many folks have seen a decrease on account value upwards of 40% over the last 12-15 months. In order to make up 40%, you need earn greater then 60% on the money that is remaining. With decent investings, you'll make this up in maybe 5 years. Sitting on the sidelines through this turbulence cost you 5 years towards your retirement. This sounds like a lousy way to save for retirement. One must be more prudent with their savings. c) Finanical planners...don't get me going. I haven't met one that has provided good advice during the turbulent times. It is easy to be good during the boom times, but a good financial adbvisor is worth is weight in gold during the bad. I have yet to meet one who provides sound advice during the bad times. Sound advice might be: 1) get into cash 2) buy some Inverse ETF's to hedge your long portfolio. Bottom line...there is nothing better then being educated on these matters. Everyone should educate themselves on ways of creating and preserving wealth.

October 22, 2008 at 6:41 pm

pham

hI THERE ! I really like leman brother and aig, fre fnn I would like to know more information of them please help me. thank you very much devon

October 23, 2008 at 10:49 am

about this blog

Alexis Glick is an anchor for FOX Business Network. Prior to joining FOX, Glick served as a correspondent for the Today Show and co-anchored the third hour of that program. Before her stint at NBC News, she was the senior trading correspondent for CNBC and reported from the floor of the New York Stock Exchange.
- Contributor Profile