Are you a deer in headlights when it comes to your money in the market? You probably feel like the rodent that's been run over. Regardless, Newsweek offers some advice. It says to put your money back into the market--as much as you can--really. Their logic is that over the long haul, the market will go up. Here are some more specific bits of advice:

Put your money in a Roth IRA
"You'll pay income taxes on the amount you convert, but that amount is probably a lot lower than it would have been without the recent market rout. And given the astronomical deficits that Washington will have to fix sooner or later, your tax rate may be at an all-time low. Once your money is in a Roth, you'll be able to reap all the future earnings without paying taxes on them."

Invest for income.
"High-yield stocks and corporate bonds have been among the hardest hit in recent market sell-offs, but they are exactly what you want in your portfolio as you head into retirement"

Use a health savings account.
The theory behind these is that they enable you to save up to your deductible without paying taxes on it... For 2008, you can contribute $5,800 and an additional $900 in catch-up contributions if you're 55 or older."

What have you done with your money, anything?

Labels: advice, money