Do you own any stock?
 

Do you own any stock? If so, how has the recent economic status affected you? Have you pulled your money out? How much did you lose?

Personally, I have some money in mutual funds and obviously it has dropped significantly lately. It has always been my strategy to rarely even look at it, and always leaving it alone, putting into the account regularly. However, I'm having second thoughts now.

Let's hear your situation.

No stock here, and the only way the "credit crunch" has affected me, is that no company in their right mind or not will give me a credit card these days, even though I have perfect credit. I also read about Egg contacting thousands of customers saying their credit cards won't be renewed either.

Lovely.

I also read that savings in bank accounts in the UK may be affected, but only if you have over £50,000 (say about $90,000) in there. What a tragedy. In my opinion, if you have over £50,000 in the bank you can spare a couple of quid.

Completely off topic, but the people who would whine about this reminds me of a train journey I had a couple of weeks ago. I paid over £70 ($130) to go to Wales on the train, but of course, it was so packed, and so smelly I was expecting to see someone with a goat and a crazy old lady at the back holding a chicken. So there I was cramped against a broken train toilet, when this lady came on and started barging through yelling "I have reserve seats! Let me through!" - I couldn't help but yell back "And I've been standing here for 4 hours! Now shut the hell up and sit on your suitcase like everyone else!".

Bloody Capitalism.

As expected, my portfolio has been battered pretty hard, but rather than selling, I'm looking to throw more money into the market to take advantage of these lower prices. Seeing that my time horizon for this is going to be really long-term (30 years), I'm not altogether too worried about the recent market decline and as long as I've got a steady stream of income coming in, I'll continue to add more into my portfolio.

I managed to pull out most of my funds before the huge drop in numbers, and then bought back in when the plunge happened. I'm young, and I've got no problem working long term.

I do. My portfolio (though not nearly all stock) is up 2% in the past week or so.

It pays to have a CFP for a mother sometimes.

The biggest thing on my mind regarding this economic crisis is whether or not I should pour more money into it. It would be a great thing if we have hit bottom and the market will turn around, or the alternative is it can go even lower. There's no way to tell... but I think I'm going to put more in as well.

Wow, how did you get your timing so perfect?? My first thought after the market dropped 700 points was "if only I could go back in time and sell right before, and buy right now". I don't know how you managed that! Congrats.