Acting during the Recession

It’s abundantly clear that our economy is ailing.  So everyone can sit around and whine about it, criticize the people who are working toward a improving the economy, or be part of the solution.  Which action do you choose?

The media seems to be divided into two camps.  Some journalists are part of the solution by keeping their audiences informed of opportunities in markets, government programs, and the private sector.  Others seem to be finding satisfaction in preaching the end of the financial world to anyone who will listen.  This latter group seems to have lost their Thesauruses.  The least they could do is find some other words for “plummet”.

So many people are saying that they are terrified every time they open their investment statements or listen to the news.  It’s reminiscent of the old joke about a fellow who goes to the doctor and says “Doc, it hurts when I do this.”  He then lifts his arm at a rather odd angle above his head.  The doctor replies, “Then don’t do that.”  That’s not to suggest that we shouldn’t follow the news and make sure that our investments are still of good quality.

Find the media sources that give you news that you can use and that prompt you to positive action.  Be in touch with your financial advisors and confirm that they’re watching your investments and will let you know if action is needed.  And don’t just complain to your friends if you’re unhappy with the government’s approach to dealing with the economy.  Let your elected officials know your concerns.  Give them specific feedback and offer them solutions.

About the author

Linda Y. Leitz, CFP®, EA, CDFA

Linda Y. Leitz is a fee-only Certified Financial Planner™ and has been in the financial industry since 1979. She is also enrolled to practice before the Internal Revenue Service. Before becoming a financial professional, Linda held several executive positions in the banking industry. She began her career as a bank examiner. Linda has a BBA in Business Administration from Principia College and an MBA from Southern Methodist University.
As a fee-only financial planner Linda is a member of the National Association of Personal Financial Advisors, the Financial Planning Association, the National Association of Tax Professionals and the Alliance of Cambridge Advisors. As a leader in the financial planning industry, Linda is the author of the book titled "The Ultimate Parenting Map to Money Smart Kids". She has been quoted in several national publications including the Wall Street Journal, U.S. News and World Report, and Morningstar Advisor and she has appeared on CSNBC. She also works as a volunteer instructor to new financial advisors with the Alliance of Cambridge Advisors.

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