I'm freaking out here!

**shortstack** · 09-15-2008, 07:17 PM

Ok I never talk about our finances with anyone but I'm freaking out here and need some sound advice. Throw some at me please!

We have $300,000 invested in AIG and another $300,000 invested in stockes through ING. You guys have seen the news what should we do!? We called our stockbroker/financial advisor just a few minutes ago and set a date for him to take us out to dinner tomorrow night to decide what we are going to do. If we pull out of AIG we lose %7 but that is a h*ll of a lot better then losing all $300,000. We have alreadu lost $50,000 in the past year on stocks

Andrea

**guest002** · 09-15-2008, 07:26 PM

How is that $300K invested in w/ AIG?

If it's all in stock that's insane. You should be more diversified that that.

I haven't heard anything neg. yet about ING. As for AIG I heard some talk today but didn't pay much attention to it as I don't personally have anything invested w/ them.

If you trust your financial advisor, listen to their advice and then think it over, do your own research and then make an informed decision.

Remember that if you sell now you are capitalizing a loss. What is/are the goals for this money? If it's long term your decisions should be based on that. Not 1 day, 1 month, or 1 year of the stock market. Are you investing monthly, yearly, or is this a lump sum investment? If you are investing monthly remember that you will be buying low this month. When the market goes back up you will have made more money KWIM?

**nodmicks** · 09-15-2008, 07:52 PM

I am sorry you are so stressed. I wouldn't panic until you talk to your broker. I didn't hear a thing about ING
Hang in there!

**shortstack** · 09-15-2008, 08:01 PM

AIG is a lump sum fixed annuity. ING is diversified stocks which include some international stocks.
AIG was an A+ company when we decided to move our money to them. Goes to show you that Murphy's Law follows me around. Remind me to tell you about my first plane trip sometime, its an insane story that I attribute to Murphy.

Andrea

**BlessedMomof2** · 09-15-2008, 09:07 PM

I have absolutely no advice for you. But I did want to wish you the best of luck and I'm hoping that everything works out okay.

**frugalbabe** · 09-15-2008, 11:51 PM

You're fine. I know it feels like now is the time to panic but honestly that is the last thing people need to do really. We have pretty similar investments and I really think it's going to be fine just sit tight and get ready for some bumps but it is those that keep their calm and their heads that are going to come out ahead. From everything I have read and heard today in my own research things will be ok.

**shortstack** · 09-16-2008, 07:19 AM

I am pming you

Andrea

Originally Posted by frugalbabe

You're fine. I know it feels like now is the time to panic but honestly that is the last thing people need to do really. We have pretty similar investments and I really think it's going to be fine just sit tight and get ready for some bumps but it is those that keep their calm and their heads that are going to come out ahead. From everything I have read and heard today in my own research things will be ok.

**caradana** · 09-16-2008, 08:51 AM

The lump sum fixed annuity should be fine. The stock positions are absolutely not what I would be doing in your position. Ask around among your friends and get the names of a couple good financial advisors. Go meet ALL of them and pick the one you're most comfortable with. From what I can tell from your posts, you seem WAY too risk-averse for a portfolio of single-stock positions, and you should be rolled into diversified mutual funds, bond funds, and maybe some structured products ASAP.

D

**Ebbie** · 09-16-2008, 04:09 PM

Yeah, if your reaction to the drop in the stock market isn't: "Hey look honey! They're having a sale on stocks! Wanna go shopping?" then maybe the uppy/downy nature of the stock market isn't a good match for your personality type.

Another thing to ask you is your age, and how close to retirement you are. If you've got 20 years or more to go then by all means RELAX! The market will recover. As long as you're properly diversified then just tune out the ups and downs of the market. But if you've got approx. 600,000 in stocks then to be diversified you'd have to have a substantial chunk of money outside of your stock porfolio, do you? Or is the 600 grand your total investments? If it is then yeah, I would think about moving some of the money into safer lower-return investments. Ya gotta sleep at night, ya know?

**shortstack** · 09-16-2008, 09:50 PM

The thing that had me freaked was that the AIG was our safety net. We figured that worst case scenario if the market tanked overall then we would have that $300,000 from the fixed annuity to fall on. Looks like Murphy follows us.
The $300,000 with ING in a diversified account in about 100 various stocks (American and International) was not the thing that freaked me out. We've been all over the place with that account our lowest being of course after 9/11. One of the planes that crashed into the twin towers knocked out about %20 of our investements.

You guys asked my age and I just turned 30. My husband is 33.

We met with our financial advisor who we trust very much (my husband has been with him since he was 12 and he has never steered him wrong) and I am feeling much better about the whole situation. He gave us a couple of options that we are very comfortable with, now I'm just leaving it up to my husband to chose which one he wants to go with.

Thank you guys so much for your support. I felt the other night like the rug had been pulled out from under us and I really appreciate you being there for me.

May I also please add that even with the numbers I threw out in this post I want to say that my hubby and I are as frugal as the come. Wouldn't want anybody to think otherwise

Andrea