Smart401k Blog

With economic uncertainties surrounding us all, many are looking for a safe place for their money. Smart401k president and CEO Scott Holsopple takes a look how to avoid the chase for the “perfect investment” this week in U.S. News & World Report Smarter Investor. This post provides sound advice for those who think searching for (and finding) the perfect investment will solve all of their financial problems.

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Many times throughout the year, events take place that raise concern for investors. Whether these events are natural disasters, an uprising overseas or an event on U.S. soil, they can cause a few sleepless nights for investors. The most recent of these events is the debate in Washington over whether or not the debt ceiling should be raised. One side states that not raising the debt ceiling would cause the delay or elimination of crucial government benefits and default on government debt. They state this would cause a downgrade in the U.S. credit rating leading to skyrocketing interest rates, plummeting bond prices and general market chaos. The other side of the argument states that if the debt ceiling is raised, the U.S. will plunge deeper in debt and eventually cause all of the same chaos to happen.

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In the headlines

A look at some of the market movers from the week:

• Concern over debt in the European Union and the U.S. pushed gold to new highs
• Congress and the President continued to struggle to reach an agreeable deal to raise the debt ceiling
• The European Union crafted yet another bailout for Greece
• Borders won court approval to liquidate its remaining stores

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In the headlines

A look at some of the market movers from the week:

• Italy was put back on the radar in a big way as one of the EU’s fiscally challenged members
• Debt ceiling talks continued to run into walls
• Alcoa kicked off earnings season by matching estimates on earnings that more than doubled from last year
• News Corp continued to quake in the wake of the phone-hacking scandal

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