About 3 years ago my partner/spouse Diane was laid off from Nortel after 13 years. Then bankrupcy followed. Our savings stay in a credit union account to carry us between jobs through agencies. I save quarters in a large glass piggy bank in hopes of returning to Paris for a cheese tour. I don’t care for cheese and need re-education!

I agree with KattinColorado, what money? Let me see Bank of Home Mortgage, Bank of Car Payment, Bank of Credit Cards, Bank of Utilities, Bank of Student Loans, Bank of Exxon, Chevron, BP, Shell, Bank of Grocery Store etc. And the list goes on and on.

We got out of all stocks when the smoke and mirrors Bush economy looked like it was beginning to dissipate and shatter. Now it’s in IRAs, annuities and simple CDs.

I got out of the stock market last year when the rumblings of problems with liquidity in the housing market started to rumble, rumble, rumble. I missed part of the up-turn in the market while everyone else was getting out, but I knew my money was safer in CD’s and other more liquid instruments. I’m wondering why the Bush Administration, with much more information that I had, couldn’t see this coming……or if they did….why did they sit on (you know where) and do nothing? As we have seen in other parts of the world, planning ahead is not one of the present administration’s strong points. Leadership? Where is it? IT’s TOO LATE NOW!

This is the best topic yet that is bringing out the humor in responses. The humor and reality of money are often the same. We are not a people who save. I used to be the great consumer. As you get older you start thinking about the things you’ve bought and what a waste of money. Things that were interesting at the time you bought them are now in boxes taking up space. Americans’ consumerism is a double edged sword: it keeps the economy going while the individual consumer is often left in debt. Why should you buy a new car unless your old car is ready to be junked? Why should a person have 20 pairs of shoes? The questions that aren’t asked should be asked by people before they buy. I’ve learned to walk the mall without buying and to garbage catalogues without even flipping through the pages. It is time for consumers to think before they buy. If you put off today what you can buy tomorrow, you may avoid buying many items you would otherwise buy. Then people might have money to invest. Where to invest at this time silver or gold or their etfs or perhaps euros. With little savings people should be very cautious - who knows what industry will be next to lay off workers. Banks don’t give much interest these days and will probably even give less tomorrow but they are safe up $100,000 as are CDs. If you are fortunate enough to have savings I would keep enough liquid for at least one year of living. Who knows with the economy going downhill and the President and candidates not having solutions to the problems we are headed no place good. Be safe rather than sorry. There are also other problems that might arise such as the bird flu if it mutates. Schools, businesses and regular activities would be severely curtailed. It is good to think ahead for what many perceive to be the difficult economic times that are coming. Do you really believe the President that everything is really okay? One thing you can be assured of - the government will only bail out the rich not the middle class or poor.

Wealthy people usually harbor under the impression that everybody has money to invest. This is not true. Most people live from paycheck to paycheck, and while we don’t wish ill on anyone, EVER, it isn’t possible for us to feel all that sorry for the rich people who had money invested in places like Bear Stearns and are now upset because their investments have gone bust. I’ve never had any investments except the futures of my children, and my students. After 26 years in the public schools, I made 49,000. It wasn’t worth the peripherals of NCLB and the unbelievable parents I had to deal with (most were great, but those few losers destroyed me afresh, daily) and I quit. Was immediately snatched up by the local community college, where I make as much as $16,000/yr and sometimes less, but my blood pressure is down and my general health has much improved. I can’t afford to go anywhere or buy anything, but I’ve never looked back. People with money to spare for investments and even savings accounts are out of my realm of understanding. Where am I putting my money? I frivolously give it all away for luxuries like electricity, food, gas, and car/house payments. I’ve worn the same shoes and carried the same purse for eight years. Haven’t had a new stitch, except for what Mom gives me for Christmas, in years. My husband has been teaching for thirty years and makes less than our neighbor who is a courier in a military base. (H.S. diploma!) Where do I keep my money? I don’t get to keep any of it.

I love love love ING Direct. I don’t feel safe putting my money into anything that’s even remotely risky. I have my savings, and my daughter’s college fund, in ING CD’s. They have the highest yield I can find, and I feel my money’s safe. I also have a regular savings account with them, because it also yields a high interest rate.

As I age, I become more financially conservative. I’ve always been a tightwad, and now my investing is oriented to hanging on to money too. In my sixties, I have about 30% in stocks, 60% in short and long term bonds, and most of the rest in money markets. That doesn’t include the value of my paid-off house, because that value changes so drastically day by day.

i agree…what money? after years of slowly climbing my career at 3% increases, my husband who is a paint contractor for new residential homes loses all but one developer (and they have reduced their pays by 5%) - my income is basically holding things together which is shaky at best. we cut back by eliminating the house phone, turn down the heat (or off alltogether) and eat sandwiches 3x a week…and there is a water leak that blows that bill sky high. we threw out the credit cards long ago and now the mtg loan groups say the scores are too low due to the fact we dont have credit! talk about a rock and a hard place! cant sell the house - market is off/truth is i really want to keep it… guess its hot dogs tonite by candle light - sound romantic?

Real Estate, a little under the mattress & a small savings account, oh yeah, let’s not forget Uncle Sam, I give a lot of it to him too!