Quote:
Originally Posted by MoneyGuy
I'm telling you guys. Five years from now you'll look back and wish you'd bought. If you've bought, you'll wish you'd bought more. When we reach bottom (whenever that is), you'll never see those prices again. This may not be bottom, but I'm convinced the above will prove to be true.
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There are no guarantees in life. We are still at the early stages of this recession, there haven't been any substantial job losses or cutbacks yet. It's way too early to call bottom. At this point, I would be focussed on aggressively paying down debt, especially anything over 5%. And not just because it's impossible to find a 5% after-tax risk free investment (Even RRSP's aren't tax free, they are deferred tax)... I would focus on debt reduction because most of us have way too much debt and maintaining these debtloads is going to be much harder in a tightened credit market. Especially if you get laid off.