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To: richard surckla who wrote (16566)2/24/1999 1:43:00 AM
From: RetiredNow  Respond to of 93625
 
Nah, I'm not an extremist. What everyone should do is simply to make sure you have current statements which will prove how much money you have in banks, mutual funds, brokerage accounts, etc. DO NOT withdraw funds and put it under the mattress, unless you want to be killed and robbed. You may want to move short term funds out of the market and into your checking account, though.

My main concern is not that some computer glitch will cause my funds to disappear. I could care less about that because I have bank and mutual fund statements to prove how much money I should have. What scares me is people's overreaction to the perceived threat (however unrealistic), which could cause a severe market correction. That is why I will be moving my new house money out of the market and into my checking account. Note that I am only moving funds that I plan on using in the short term, out of the market. The bulk of my assets will remain fully invested. This is sound reasoning even if there were no Y2K issue. But to put money under the mattress? Bah, that's insane.