Will Your Finances Survive the Next Couple of Years?

Everyone knows that the stock market is risky, and that you could lose money, no matter how “good” your information may be. However, things are getting a little bit dicey. MarketWatch’s Paul Farrell points this out about where our stock market is headed:

Now the biggest of all insults: Our capitalist system is so dysfunctional that lately the market has taken to cheering as Wall Street’s incompetent bankers hide their mistakes by selling huge chunks of America’s equity to China, Singapore, Abu Dhabi and other sovereign funds — with more sell-offs coming. …

Unfortunately, our leaders just don’t get it: America’s high-on-the-hog, deficits-don’t-matter lifestyle is unsustainable. Wall Street knew this would happen, but was in total denial, self-absorbed in its greed-is-good world milking the subprime-credit bubble.

So, where do your finances fit? I’ve been complaining almost constantly about our debt-based economy for the past couple of months. Year of irresponsibility are finally catching up. But there are some things you can do. With the MarketWatch article by Paul Farrell as a guide, over the next few days we’ll look at 10 things you can do to help your portfolio — even as the bear growls at Wall Street’s door.

Tomorrow: 1. Go contrarian and 2. Do it yourself.