How to Protect Your Money

Insured accounts best bet as Wall Street tumbles
By Ambreen Ali,  Newser User
Posted Sep 30, 2008 2:56 AM CDT
Use spare cash to pay off debt or save up for down payments or college funds instead of investing right now.   (AP Photo/Richard Drew)
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(Newser) – After the biggest single-day's loss in Wall Street's history, even Americans whose sole investment is a bank account are nervously scratching their heads. Here are some guidelines to the failed-bailout crisis from the New York Times:

  • What happens next? The market's deep dive may scare Congress into passing the bailout or a new bill, at which point stocks may rebound.

  • Should I buy? Stocks are swinging wildly, so Wall Street is a gamble. Be prepared to lose big if you take the risk, but you may come out lucky.
  • If your retirement portfolio is bust, keep saving and give it time. If you're preparing to retire now, reconsider. It's not a good time to quit.
For all the advice, click the link below.