I keep hearing it again and again – it’s a buyer’s market. . . We have been encouraged to contribute weekly to a 401K, an IRA, any available savings vehicle, but now we are afraid to open these same monthly statements. Some have lost up to 50% of their portfolio. As the April 15th tax-deferred contribution deadline nears, we ask “Who can we trust? Where can we grow or even just preserve our assets?”
I recently had a candid conversation with my banker and we HAD THE SAME CONCERNS. We both decided that we were going to spend that money. Not on frivolous things, but on updating our homes, buying investment worthy furniture, replacing windows with a more energy-efficient version, replacing our carpet – FINALLY!
If you have the cash, then now is the time to buy. Our leather suppliers have excess inventory, McKinley Leather and most other furniture manufacturers have excess production capability and most stores have excess inventory. The end result is the best pricing in a decade. At least you can enjoy the benefits of that investment – every time you come home from a stressful day of trying to make ends meet.