As Warren Buffett does his second bailout in as many weeks (this time of General Electric), I’m reminded of a Buffett quote I brought you last year.

How about this for eerily predictive?

I will tell you how to become rich. Close the doors. Be fearful when others are greedy. Be greedy when others are fearful.

If we are heading toward a second depression, maybe being greedy isn’t such a bad thing.  What do you think?

Photo: Newscom.com

Tags: General Electric, Second Depression?, Warren Buffett

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Filed under: Estates

Today’s estate has a beautiful setting on over 58 acres in Garrison, New York. Whippoorwill Farm is nestled between two ponds and open meadows in a secluded valley. The former Vanderbilt Webb country house (it dates back to the 1880s) has been restored and has antique wood floors, all new systems and generator, nine fireplaces, six bedrooms, a big kitchen, formal dining room, solarium, study and laundry room. The master suite includes a private bath with steam shower, sauna and separate dressing rooms. The guest house offers four bedrooms, a country kitchen, library and more. The property also includes a caretaker cottage, other outbuildings, tennis court, pool, gardens and miles of stone walls. It is listed at $7.45 million.

Experience more lush living in luxury homes and mansions or see the stars living big with celebrity homes galleries at AOL Real Estate.

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Continue reading Whippoorwill Farm, Estate of the Day

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I know it’s scary.  I looked at my 401(k) over the weekend.  But the loss is only on paper unless you fix that loss by selling.  I don’t need the money.

If you feel you MUST take out money, call a financial advisor.  If you don’t have a financial advisor, this might be the time to get one.  Look for someone who will really listen to what you want and who will give you options.  If someone says, “I have the answers; listen to me,” Don’t.

If your finger is waivering over the “sell” button, you can call AARP’s financial “hot line” at 1-888-778-6187.  They might be able to speak you down off that ledge.

Ok, enough metaphors.  You get the idea:  Unless you absolutely need the money for an emergency (and a cruise doesn’t count as an emergency), stay put.  Watch and wait.  Sometimes doing nothing is the hardest thing to do.

Any thoughts?

Tags: 401(k), AARP, ionvestments, stock market

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