Goodbye Mr. Banker. Goodbye Mr. Wall Street. Can't afford the risk. I'll go it alone.

We are now in an era what I call a “Stow it under your mattress” economy.  Many folks who were burned by the past recession and who lost significant amounts of money in the stock market, funds, and annuities are now putting their cash in low interest CD’s or under their mattress.  Both grow about the same.  I wouldn’t be surprised if some mattress maker sell a box spring and mattress with a vault inside.  Now, if they could only put an ATM in there as well.

But my point is a huge amount of personal money is away from investments and Wall Street.  Away from risk.  Hidden and safe.  However, not growing.  And I’m sure that’s the way the smaller investor wants it to be.  Money holders more in control of his or her own money.

Therefore, Wall Street and banking is finding this “tight to the vest” approach as the new normal.  And most likely will be this way for years to come.  Less spend and investing and more sitting tight on personal money.  “Got burnt in 2007.”

I too recently have cashed out some funds and place it in a credit union CD account.  Just feel better about that.  I no longer trust Wall Street and big banks.  After what others and I have witnessed in the past couple of years I certainly feel I can manage my money better than the typical money managers.  Surmising that the big money people really had no interest in the safety of my investment.  But only interested in making money off my money.  Keeping the rewards to themselves while others and I suffer the losses.  But I was told over and over to stay in the market for the long run and most likely my money might grow again.  Yeah sure.  While my money sits long term in some mismanaged fund, day traders and in and out traders are using my money as leverage to spike the market, take a profit, and bale out.  Leaving me holding an empty moneybag. 

Nope.  “No thank you any more!  I’ll manage my own money.”