Sunday, December 14, 2008

Suze Says: Do What's Right For YOU!

In the current economic conditions, do you buy or sell? This is the question that lots of people want to know. According to Suze, you need to do what is right for you in this time, in this place, with your situation, with your money. The markets (stocks, real estate, etc) should not dictate what you should do.

Should you buy or sell real estate right now? Especially when prices are so low? It depends on your situation. You should not do it if you really can't afford it. If you CAN afford it, then you should go right ahead!

Should you buy or sell stocks right now? Again, all these decisions are personal. They should not be dependent on ideas that "stocks are very cheap" or other ideas. If you have excess cash that you can afford to put into the markets, then perhaps that is a good idea. However, if your own personal current situation says you shouldn't (debt, etc) - then it's not a good idea.

It comes down to this: you need to figure out what you personally can and cannot afford. (Which you should always figure out before a large monetary expenditure, anyway!)

I am young, I live below my means, so I can afford to invest few hundred dollars into the stock market each month. However, I know that I cannot afford to buy a condo (downpayment, high property taxes, mortgage that is more than my current rent, etc) so therefore it's not the right decision for me right now.


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