401k
- Thread starter MPS
- Start date
If you think our country and economy is going to completely colapse, then you did the right thing. I think we'll pull out of it (hopefully sooner rather than later) and am going to continue to contribute. It is a little depressing watching your money disappear, however you won't be successful timing the market. Don't get left on the sidelines when the market recovers. You'll miss out on the ride back up.
Good advice, Vman. Slut, keep contributing and put 50% into stocks. You will be glad you did in the future. As hard as it is, just ignore what is going on right now...................
Unless you take your money out your loss is only on paper. If you don't plan to retire within the next 2 years I would leave my investment alone and continue to invest buying at a lesser rate, this economy will improve and so will your investments. It's hard not to panic and over react. Hang in there.
Exactly, unless you take your money out, nothing is lost. When the market rebounds your money will come back. I lucked out by procrastinating. When the company chaged our fund managers everybody's funds went into a stable fund and you had to go in and set your distributions. I never got around to it until the market had pretty much hit bottom. Now when things rebound, my retirement fund should take a pretty good jump.
My end YTD for '08 was -39%. This year so far, I'm up 3%. 
I'm investing more now then a year ago. Waiting for the turn...
I'm investing more now then a year ago. Waiting for the turn...It depens upon what you thing is going to happen. I believe that things will evenutally turn around in a couple of years and I am not going to be retiring for another 20 years at the least. Due to those facts, I am dumping as much money in as I can (about 15% of my paycheck) into my 401k. Mutual funds and stocks are dirt cheap right now so you can buy more shares for the same amount of money. A bigger position now in these funds will hopefully translate into more of a retirement fund when things recover.
If you think that the markets are going to completely collapse, they you will be better off cashing out what you have, buying ammo and gold and building a stocked bomb shelter. If you are going to be prepared for this scenario, one of the worst things that you can do is to be a Lucius Clay and start stashing dollars away. Since the ol' printing presses are going to have to work overtime to keep up with the spending that is coming out of Washington these days, inflation may soon make the good ol' greenback about as vaulable as the peso. Find something that has an inherent value and stock up.
/A little bit of both never hurt, either.
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If you think that the markets are going to completely collapse, they you will be better off cashing out what you have, buying ammo and gold and building a stocked bomb shelter. If you are going to be prepared for this scenario, one of the worst things that you can do is to be a Lucius Clay and start stashing dollars away. Since the ol' printing presses are going to have to work overtime to keep up with the spending that is coming out of Washington these days, inflation may soon make the good ol' greenback about as vaulable as the peso. Find something that has an inherent value and stock up.
/A little bit of both never hurt, either.
/
M
MPS
Well-known member
Thanks for the advice guys...guess I should try to stay calm. I can't pull any money out unless I quit this job, but I did transfer it all to low risk bonds. Now I can pull my mutual funds right now of course...been thinking about doing that too, but you think I should ride it out, huh?
M
MPS
Well-known member
haha....dude I am gonna quit and get my welfare handout every month!
