by Bob Trowbridge

Created on: April 08, 2009

There was a time when it would have been easy to make a list of the best ways to invest for the long term. Those times are gone for now. After the economic unraveling of 2007, 2008, and ongoing, "long term" seems like a quaint phrase. For those who have lost their homes or are in danger of losing their homes and for those who have lost their jobs or are in danger of losing their jobs, there is no long term.

The number of people who actually have money to invest is shrinking. Still, in spite of the current dire situation, we have to think about the future and, if possible, put together some plan to help us survive for the long term.

The old definition of long term probably doesn't apply. At most we may be able to talk about the coming three to five years. For many, one day at a time is the rule. So what can we talk about that might be a safe place to invest your hard-earned bucks for the coming three to five years?

Many of our hallowed long-term vehicles just aren't going to hack it. Traditional long-term low-risk investments such as savings, money market accounts, and Certificates of Deposit (CDs), while still relatively safe, will not give you any return on your money. Only a CD with a very long term, like five or six years, and a very high balance has any hope of a return that will be greater than inflation.

Bonds and treasury bills and notes, savings bonds, and other government-backed investments are themselves volatile and high-risk with diminishing returns.

Moving up to higher risk investments, we need to look at Mutual Funds, Exchange Traded Funds (ETFs), and individual stocks. The stock market is taking on a bullish appearance right now but it is likely only a correction. The stock market is very dangerous currently unless you really know your markets.

Although many of the TV pundits keep calling the bottom in the stock market and the economy, they are also the ones who never saw this coming in the first place. I wouldn't place a nickel of my money on their advice.

When the broad stock market is falling and volatile, and other "safe" investments are either less safe or simply will not bring you any returns, it is time to look for market segments that might be recession/depression proof.

Even in the Great Depression, certain market segments were profitable. Some people were able to make money by betting against the market. Even that bet is a little shaky right now. What kinds of products or services might prosper in this downturn? What industries might make money

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