Jobs secure, troops worry for savings

Jobs secure, troops worry for savings
By Matt Millham, Stars and Stripes
Mideast edition, Wednesday, October 1, 2008

Troops with an eye on the U.S. economic turmoil were equal parts confused, optimistic and dubious Tuesday about the short-term future of the U.S. economy and the prospects for a bailout plan, which failed to pass Monday despite impassioned support by President Bush and leaders in both parties.

With their jobs all but guaranteed, troops aren’t panicking about where their next paycheck is coming from, but some are worried about their homes and retirement savings. Others speculate the tumult in world financial markets is providing opportunities to pick up stocks at discount prices.

Sgt. Daniel Hughes, with Troop C, 3rd Squadron, 89th Cavalry Regiment, has been investing about $1,900 a month into a mix of mutual funds and bonds while he’s been in Baghdad. Most of those are holding steady, although one emerging markets fund has taken some hits, he said.

Hughes is not worried, and has chosen to go all in, buying stocks on the cheap in the hope of turning a long-term profit.

"This is phenomenal," Hughes said. "Right now, I’m buying twice as many stocks as I was two years ago. I’m still throwing money in it left and right."


Rest of article at: http://www.stripes.com/article.asp?section=104&article=57793