admin Posted October 9, 2008 Report Share Posted October 9, 2008 Wow, what's next?? 8600 pts? OMFG! Quote Link to comment Share on other sites More sharing options...
reverserguru Posted October 10, 2008 Report Share Posted October 10, 2008 Yeah, lets go for 7000 since I may be cashing out my 401K next week. Quote Link to comment Share on other sites More sharing options...
JustaTexan Posted October 10, 2008 Report Share Posted October 10, 2008 Yeah I'm wanting to empty my 401k too, while there is still money left in it. But I'm gonna try to stick it out. They say the market always bounces back. Isn't there going to be a time when it doesn't ? Doesn't everything have an end? Sorry-been writing too many literary analysis papers lately-I'm getting all poetic and philisophical on ya'll. But no seriously, I am getting nervous. Quote Link to comment Share on other sites More sharing options...
reverserguru Posted October 10, 2008 Report Share Posted October 10, 2008 I am reverser guru and I have approved this messageEvery option sucks, especially 401KYou lose either way Quote Link to comment Share on other sites More sharing options...
momof5 Posted October 10, 2008 Report Share Posted October 10, 2008 Yes, it is scary.....but the last time the DJIA was this low was.......right after 9/11. SOOOOO, this is a blip on the financial scope just like the Carter years, the gas crisis of the 70s and let go ahead and mention the crash of 79.If you do as recommended....stocks in your youth, half and half in your mid-years, bonds in your pre-retirement years, you will be fine. Regardless of these twists and turns, the stock market always has and always will rebound.We have been hearing for years that the bubble was going to burst. We just don't like living through it. It will be OK. Quote Link to comment Share on other sites More sharing options...
reverserguru Posted October 10, 2008 Report Share Posted October 10, 2008 Carter years huh?Anything like the Reagan years savings and loan scandals? Are the bush years better than the Carter years? Quote Link to comment Share on other sites More sharing options...
CleverCynic Posted October 10, 2008 Report Share Posted October 10, 2008 Don't believe I've EVER seen anyone stick up for Carter, and I seen a LOT a fights. Good for you. Quote Link to comment Share on other sites More sharing options...
reverserguru Posted October 10, 2008 Report Share Posted October 10, 2008 There is more to life than economicsEspecially when someone whom has threatened to close threads for political slants makes a political commentl. Quote Link to comment Share on other sites More sharing options...
reverserguru Posted October 10, 2008 Report Share Posted October 10, 2008 and while no one has commented on my F'n hillarious avatar, I am a fruit basket. 1 Quote Link to comment Share on other sites More sharing options...
CleverCynic Posted October 10, 2008 Report Share Posted October 10, 2008 oh, then you already know this... Quote Link to comment Share on other sites More sharing options...
reverserguru Posted October 10, 2008 Report Share Posted October 10, 2008 Nope, unfortunately I am a little ignorant about a few things including smiley faces. I know the , the , and the . I tried downloading some others but froze my computer for a couple days Quote Link to comment Share on other sites More sharing options...
jrbauto1 Posted October 10, 2008 Report Share Posted October 10, 2008 Wow, what's next?? 8600 pts? OMFG!You just can't look, unless you want to buy more. I mean it is not pretty but think about this for a moment. There is a real economy out there. People wil still need food, water, power, gas, , I could go on. Today will probably be bad, GE reports this morning and let's hope they hit their mark. Hang in there .GE just reported as I was typing. They reported in line with analyst estimates. Of course their finance arm was down. Energy infrastructure was up 31% . Quote Link to comment Share on other sites More sharing options...
Freak Posted October 10, 2008 Report Share Posted October 10, 2008 Well, I may be nuts, but I increased my contributions by 1% beginning next week. I've got about 30 years before I retire. With things (in the market) getting cheaper by the day, I figure I'll reap the rewards in a few years. Quote Link to comment Share on other sites More sharing options...
wdspeedbump Posted October 10, 2008 Report Share Posted October 10, 2008 remember the old saying granpa used to tell you?"if you're gonna dance , you gotta pay the band."the bill from the band just arrived. it's been a party, we all had fun, now we pay. sad part is, our great-grandchildren will still be paying for this. Quote Link to comment Share on other sites More sharing options...
Jackie2 Posted October 10, 2008 Report Share Posted October 10, 2008 according to the news, wall street is still falling this morning. only good news is oil is down to 82 $ a barrel. I just moved everything into the most conservative mix I can with the 401. It's through Xerox and as long as hubby is working he can't get to the money. (I don't know why)he's lost 20 percent so far. (was in a moderate mix before) Hasn't made any money in it for a year. Quote Link to comment Share on other sites More sharing options...
jq26 Posted October 10, 2008 Report Share Posted October 10, 2008 Well, I may be nuts, but I increased my contributions by 1% beginning next week. I've got about 30 years before I retire. With things (in the market) getting cheaper by the day, I figure I'll reap the rewards in a few years.YES!!!! You have the right idea. As the markets have taken a dump, I've increased mine from 8% -> 12% -> 15% -> 20% -> As of Wednesday, I'm at 24%! Take advantage of this! Quote Link to comment Share on other sites More sharing options...
JustaTexan Posted October 10, 2008 Report Share Posted October 10, 2008 YES!!!! You have the right idea. As the markets have taken a dump, I've increased mine from 8% -> 12% -> 15% -> 20% -> As of Wednesday, I'm at 24%! Take advantage of this! You think this is smart? I'm not asking that to be a smartass, I really want to know. For the year I've had a 40% loss. You don't think the market will just completely tank at some point? Quote Link to comment Share on other sites More sharing options...
AboveAverage Posted October 10, 2008 Report Share Posted October 10, 2008 You think this is smart? I'm not asking that to be a smartass, I really want to know. For the year I've had a 40% loss. You don't think the market will just completely tank at some point?He has the right idea and I might as well do the same. (But only 2% more because I really can't afford anymore than that)The idea is to BUY when the market tanks, not sell, ESPECIALLY if these are retirement account and you have a 20-30 year horizon. Unless you feel that the world is going to end up like Mad Max and the Thunderdome, you buy into a selloff. If you start switching stuff now, you will lock into your losses, and you will not recover the way you should have.In both my Roth and 457, I have 100% stocks, but I'm diversified into 31% Large Cap Growth, 21% Large Cap Value, 20% International (I know other people who went 40-60% international, and they want to kill themselves now), and the rest in between small and mid cap growths and values. 100% high risk, and the way my portfolio is looking it shows, but I have to keep my percentages the way they are when the market swings back up, (and it will). In short everyone....keep the faith if this is long term and don't lock into your losses. Quote Link to comment Share on other sites More sharing options...
jq26 Posted October 10, 2008 Report Share Posted October 10, 2008 It did tank! We're hitting rock bottom value, unless you subscribe to the theory that US & foreign companies have no value at all. You are now buying at the price many of these companies were at in the late 1990s. I'm probably down 35% or so as well. I feel your pain. But in reality, who cares? Maybe the market goes down another 10%...maybe it goes up 50%. I just don't know. No one does! But you're getting 1.6 times the shares you were getting a year ago. To me, that means its time to step it up. Ten years from now, you'll thank yourself. Quote Link to comment Share on other sites More sharing options...
AboveAverage Posted October 10, 2008 Report Share Posted October 10, 2008 System Unavailable Attention: (AA's 457b Company)'s participant website is currently unavailable. We apologize for this inconvenience. Man, I would love to get the server logs for the last week.......lmao. People are flooding the web site. Quote Link to comment Share on other sites More sharing options...
jq26 Posted October 10, 2008 Report Share Posted October 10, 2008 ...But only 2% more because I really can't afford anymore than that.I'm fortunate to have a spouse that has equal income and we live in a home that costs us next to nothing. Its our home sweet shoebox . Plus, the % I'm at right now can't be sustained or I'll blow right through the federal annual limit. But I think we're of the same mindset. Buy buy buy when stocks correct, then ease up a bit as they rise. Steady hands will be rewarded. Quote Link to comment Share on other sites More sharing options...
JustaTexan Posted October 10, 2008 Report Share Posted October 10, 2008 I'm probably down 35% or so as well. I feel your pain. But in reality, who cares? Hell, I care! I care a whole lot! I've "only" lost about a grand but I know people who have lost atleast a hundred grand. My Dad says it just added years to his retirement age. Anyhow, what do you guys think of what my money is buying? I had these selected for me about 5 years ago and haven't changed them. Am I screwing up badly here? They were doing really really good for a while. BTW-just bumped my contribution rate up 3%. That's all I can afford but I felt like a daredevil doing it! American Fnds Grth-CL 2American Fnds Grth-Inc 2Fidelity VIP Mid Cap 2Legg Mason AppreciationTempleton Growth Fund Quote Link to comment Share on other sites More sharing options...
JustaTexan Posted October 10, 2008 Report Share Posted October 10, 2008 Unless you feel that the world is going to end up like Mad Max and the Thunderdome, you buy into a selloff.Ahhh Mad Mel at his best, before he went all nutty. Don't think I'd survive though. :lol::lol: Quote Link to comment Share on other sites More sharing options...
AboveAverage Posted October 10, 2008 Report Share Posted October 10, 2008 Hell, I care! I care a whole lot! I've "only" lost about a grand but I know people who have lost atleast a hundred grand. My Dad says it just added years to his retirement age. Anyhow, what do you guys think of what my money is buying? I had these selected for me about 5 years ago and haven't changed them. Am I screwing up badly here? They were doing really really good for a while. BTW-just bumped my contribution rate up 3%. That's all I can afford but I felt like a daredevil doing it! American Fnds Grth-CL 2American Fnds Grth-Inc 2Fidelity VIP Mid Cap 2Legg Mason AppreciationTempleton Growth FundI actually have American Funds Growth Large Cap. Before the Market tanked, they were doing quite well, and I would not get rid of them ever. To answer your fears, Deanna, you are a young woman. You're not going to take money out for years to come. When you get into your mid 40s, that's when you start getting into some safe money like bonds, money market, etc. In a couple of years, it's going to be a bad memory....and you will be thanking yourself that you didn't do anything stupid. It is hard to hear that now (I know, cause it's just as hard saying it), but you're going to be ok, as will I, JQ26 and everyone else with a 401k (or in my case, 457B).I am down about $4k right now....that number just keeps getting bigger and bigger, but like JQ26 says, who cares? Quote Link to comment Share on other sites More sharing options...
AboveAverage Posted October 10, 2008 Report Share Posted October 10, 2008 Ahhh Mad Mel at his best, before he went all nutty. Don't think I'd survive though. :lol::lol:I'm more appreciative of his Lethal Weapon work myself (the first 2....that last 2 was just eehhhh to garbage). Quote Link to comment Share on other sites More sharing options...
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