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Air Medal or two
Join Date: Jul 2003
Location: cross roads
Posts: 14,130
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Ok 401K shinking
What do we do ? It is not going to stop, So buy Tangibles ? Tangible whats ?
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D troop 3/5 Air Cav,( Bastard CAV) and 162 Assult Helicopter Co- (Vultures) South of Saigon, U Minh Forest, Delta, and all parts in between Last edited by afterburn 549; 01-15-2009 at 06:45 PM.. |
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01-15-2009, 06:12 PM
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It's too late to get out. So far it is only a paper loss, but once you sell it's a real loss.
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01-15-2009, 06:18 PM
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meister member
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I got my 401K statement today and it is worth 40% of what it was a year ago. Ouch! What to do.
Speedy 
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1983 944 guards red with 16" Fuchs, Host of Wisconsin area timing/ balance shaft belt tensioning party 1987 944S Purchased from Legion. Corvette LT-1 V-8 conversion with Mega Squirt II Check on progress ---> www.porschehybrids.com/gallery/speedracing944 Favorite Road = www.tailofthedragon.com 318 turns in 11 miles (11 min 20 sec best run) |
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01-15-2009, 06:19 PM
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Cars & Coffee Killer
Join Date: Sep 2004
Location: State of Failure
Posts: 32,246
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Stick it out. Keep throwing money in.
Stocks are on sale. Now is not the time to liquidate. Okay, let me modify that. Make sure you are well diversified before throwing any money in. I'd recommend some sort of index fund (S&P 500, DJIA) because it should be broad enough that any losers are overpowered by eventual winners.
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Some Porsches long ago...then a wankle... 5 liters of VVT fury now -Chris "There is freedom in risk, just as there is oppression in security." |
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01-15-2009, 06:23 PM
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Registered
Join Date: May 2000
Location: Los Alamos, NM, USA
Posts: 6,044
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Welcome to the "market knows best crap". People now are learning how badly they were and will be taken when vested, defined benefit pensions were replaced by 401Ks. Ask congress or the military if they will exchange their pension for a 401K?
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01-15-2009, 06:31 PM
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Navin Johnson
Join Date: Mar 2002
Location: Wantagh, NY
Posts: 8,822
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Quote:
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double werd.... It may take years to come back... I took a 160K hit since last year on my 401K... I was going through my file and getting rid of chaff.... I found 401K statements from 1993... My account in 1993 was worth what my account today is  I wish I had the discipline to dump off earnings into safe accounts, rather than roll the dice that the train will keep rolling....
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Don't feed the trolls. Don't quote the trolls  http://www.southshoreperformanceny.com '69 911 GT-5 '75 914 GT-3 and others |
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01-15-2009, 06:37 PM
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Cars & Coffee Killer
Join Date: Sep 2004
Location: State of Failure
Posts: 32,246
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Oh, and I have an IRA too. 55 will not be unrealistic for me.
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Some Porsches long ago...then a wankle... 5 liters of VVT fury now -Chris "There is freedom in risk, just as there is oppression in security." |
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01-15-2009, 06:39 PM
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Buy into the market when the price is high and dump the stock when the price fall. |
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01-15-2009, 06:41 PM
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Air Medal or two
Join Date: Jul 2003
Location: cross roads
Posts: 14,130
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I see it becoming nothing if I do not act soon. Stick out only lets them take it
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D troop 3/5 Air Cav,( Bastard CAV) and 162 Assult Helicopter Co- (Vultures) South of Saigon, U Minh Forest, Delta, and all parts in between |
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01-15-2009, 06:46 PM
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Navin Johnson
Join Date: Mar 2002
Location: Wantagh, NY
Posts: 8,822
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I can remember times when with the accounts I selected, I would see 5k overnight earnings... I should have move those earning into basically savings accounts.I could never time the market properly.. I wish I had the foresight to take money out and put it into safe accounts that's all.. I kept rolling the dice and am now down 160K.... I hope and pray the market come roaring back..
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Don't feed the trolls. Don't quote the trolls http://www.southshoreperformanceny.com '69 911 GT-5 '75 914 GT-3 and others |
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01-15-2009, 06:47 PM
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Air Medal or two
Join Date: Jul 2003
Location: cross roads
Posts: 14,130
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It Is not going to happen, that why congress paid them selves (VIA some one else ) So they saved themselves in the Bail out.We are just dung to them.
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D troop 3/5 Air Cav,( Bastard CAV) and 162 Assult Helicopter Co- (Vultures) South of Saigon, U Minh Forest, Delta, and all parts in between |
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01-15-2009, 06:50 PM
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01-15-2009, 06:56 PM
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Navin Johnson
Join Date: Mar 2002
Location: Wantagh, NY
Posts: 8,822
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I'm not selling now, cant afford to.
In my original post I was agreeing with other posters that now is time to hold... If you get out of your 401k you will be selling at a tremendous loss... and will probably have to pay penalties and taxes for cashing out.. The market is on sale now.... time to buy.... and hope the fund managers you chose have a good crystal ball..
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Don't feed the trolls. Don't quote the trolls http://www.southshoreperformanceny.com '69 911 GT-5 '75 914 GT-3 and others |
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01-15-2009, 07:05 PM
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Dog-faced pony soldier
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Ammo never goes down in value. Well, almost never.
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A car, a 911, a motorbike and a few surfboards Black Cars Matter |
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01-15-2009, 07:14 PM
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Porsche 911 SC, SAAB SPG
Join Date: Sep 2007
Location: Charlotte, NC
Posts: 308
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This is a good time to look at all of the mutual funds available in your 401K and see which ones suck less in 2008. That would be the one with the fund best managers. You may want to consider swapping your money into that fund.
My company doesn't have the best options for 401k's and they all pretty much lost around the same amounts. Anywhere from 40-50%. So my next deciding factor is the fees each fund charges. You would be amazed at how much money these guys take for losing our money this year!!! I decided to get out of my fidelity fund and get into an S&P500 index fund. The fee's are so low it's incredible. The fee savings alone can add up to a ton of money over the course of 30 years. The funny part is that the index fund did better than some of the more expensive funds. A win, win!
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Jeff C |
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01-15-2009, 08:37 PM
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Registered
Join Date: May 2000
Location: Los Alamos, NM, USA
Posts: 6,044
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In an honest market, over the long run, you will not do better than a stock index fund. In a crooked market, it doesn't matter what you do (unless you too become crook).
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01-15-2009, 08:58 PM
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01-15-2009, 09:25 PM
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Banned
Join Date: Sep 2006
Location: South of Heaven
Posts: 21,159
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01-15-2009, 09:55 PM
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19 years and 17k posts...
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I put what was left of my 401k into the money market.
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Art Zasadny 1974 Porsche 911 Targa "Helga" (Sold, back home in Germany) Learning the bass guitar Driving Ford company cars now... www.ford.com |
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01-16-2009, 04:23 AM
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Evolved
Join Date: Jan 2007
Posts: 3,338
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Quote: "In an honest market, over the long run, you will not do better than a stock index fund. "
__________________ Statements as silly as this one ... are the reason I usually just read ( laugh at ) and hesitate to even respond to any of these ' financial investment ' threads. That 'quote' has been disproved so many times, by so many individuals ( myself included) that it is just ...amusing.
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Don't fear the reaper. |
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01-16-2009, 06:40 AM
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MazdaSpeed3
