Money Crisis: Americans React

The Economic downturn and People's reaction to it... For the Americans' some are nervous others who have good money habits say they can ride it. How about us Malaysians? How are we affected even though we are living so far away in Malaysia? Most are ignorant , but our economy is very much tied to US .. The only safe thing we can do, always have good spending habits consistently. Money Crisis: Americans React Wednesday, October 1, 2008 provided by Real people across the country answer the question: what are you doing with your money in the wake of the financial crisis? Underwater 401(k) Lawrence Ferreira, 56, attorney, Lynbrook, N.Y. More from CNNMoney.com: • Your Money: Keeping It Safe • Credit: Know Your Limits • Money Magazine Real Estate Survival Guide I'm doing nothing besides cry. If my 401(k) were any more underwater, I'd be drowning. But I haven't moved anything. Can't Even Look Olga Fuentes, 33, attorney, New York, N.Y. My husband and I had money in a couple of different savings accounts, and we moved it around and put some in a CD to make sure it would all be insured. But I can't bring myself to look at my 401(k). What Crisis? Mary Park, 31, public relations specialist, New York, N.Y. I don't work in finance and I am not heavily invested in financial companies, so I haven't noticed any kind of downturn. I still have a job. And the government is going to bail everyone out anyway. I just bought my first [Hermes] Birkin bag! Don't tell my mother. Stuck in a Hole Susan Namdarian, 42, salesperson, New York, N.Y. I am very worried. I cut back on cable. I don't know what else to cut back on. I am in retail and work on commission, and it is slow. This isn't a good time to look for another job. So for me personally, it has been a nightmare. All of a sudden I feel like I'm in a hole. Faith in Uncle Sam Noel Rush, 57, businessman, Louisville, Ky. I haven't done anything different [with my portfolio]. I am in the railroad industry, and railroad securities have been doing very well for the past few years. I realize that I am fortunate. I share the concern with the rest of our country, but I have a certain degree of confidence - and hopefully not naivete - that our government will reform our financial system to protect all of us in the future. Not Changing a Thing Malcolm Thaler, 57, physician, Villanova, Pa. Maybe my wife and I are being naive, but why bother to change things? We'll be fine. It's only money. Freaking Out, Sitting Tight Jane Fauquier, 56, retired teacher, New Orleans, La. We're freaking out! But we're still sitting tight. My husband and I have got a good amount in cash and we were going to reinvest some of it, but we're reconsidering that now. Too Afraid to Look Lisa Griffin, 49, physical therapist, Philadelphia, Pa. I'm too afraid to look at what's going on. I'm hoping things just blow over. Because of all of this, I'm going to make my car run for two more years instead of buying a new one. Lived With Our Means John Malloy, 62, Centralia, Mo. I am not worried. I haven't even looked at my accounts. I retired in December. I planned [carefully] in my 20s, 30s, 40, and 50s, and now I don't have anything to worry about. My wife and I didn't spend more than we earned. We're traveling now, doing the things that we wanted to do when we retired. More Worried About Finding a Job Matthew Meis, 39, Ridgewood, N.Y. I'm not too worried about my portfolio; I haven't made any changes. I am worried about the value of my house falling and about finding a job. I am looking for a sales position, but finding a decent job in this market is pretty difficult. Riding It Out Jay Foote, 30, vice president at a credit union, Oklahoma City, Okla. It's a bad time to pull our investments [out of the market], so my wife and I may re-look into what we've invested in a little while from now and then reconsider some of those investments. We're paying more attention to the market now that these things have happened. I work for a credit union and she works for a museum, so our jobs are safe. We'll just ride it out. More from Yahoo! Finance: • What FDIC, SIPC, NAIC and More Really Do • 5 Areas Where the Bailout Will Hit Home for Consumers • How to Treat a 'Money Disorder' -------------------------------------------------------------------------------- Visit the Banking & Budgeting Center No need to Panic Steve Atkins, 51 (with wife Susan), businessman, Seattle, Wash. Everybody hunkers down a bit more because of times like these, but there's no need to panic. We just don't want to make it worse by pulling all of our money out of the markets. Living Overseas Reggie Redetzke, 34, airline pilot, Dubai, United Arab Emirates I'm a pilot, and once Northwest Airlines folded, we just couldn't make enough money to live, so my wife and I moved to Dubai. So I pulled all of my money out several years ago from the U.S. markets, and that means I'm okay. I've got a lot of money invested in the euro, so I'll continue to watch that closely. That's where I expect to see growth come from." Too Young to Worry Katie Griffin, 26, unemployed, New York, N.Y. I'm not going to look and see what's happened to my Roth IRA...I'm too young to see it drop and start panicking. I've got the rest of my life to make money. From CNN news...