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View Full Version : 401K...If you haven't...don't look


STRIKEFIRST
10-06-2008, 08:40 AM
Well I've been watching the market and my 401k...decided to look after Fridays sell off...and todays sell off will only make matters worse...As of end of trade Friday...I've lost 30% since January 1st. :mad:

I was going to move money around a month ago...but NOOOOOO...I decide to let it ride :mad:

Well at least we're "buying low" :mad:

I would suggest not looking at our 401K and just start praying.

DFSniper
10-06-2008, 09:51 AM
my economics teacher told me he sold all his stocks a week or two ago to take a $5,000 loss instead of ending up with the $75,000 loss he took a few years ago.

durrell
10-06-2008, 11:32 AM
I was going to start investing in my retirement but have decided against it. Just gonna wait and see what happens. I still have 2 years of college.

oldironmudder
10-06-2008, 01:42 PM
My mother-in-law lost 2 grand in just over 2 weeks in her 401 before she pulled it.

Critical
10-06-2008, 03:14 PM
I don't want to be the one to say it, but you all are looking at it wrong, especially Durrell. Retirement investment should be your number one priority after necessary expenses, after all, no one is going to lend you money to retire! You should all be looking at starting 401k's now, when prices are depressed. Also, invest the money, look at it no more than once every 6 months, and forget about it until you reach the next stage in your life.

STRIKEFIRST
10-06-2008, 03:32 PM
I don't want to be the one to say it, but you all are looking at it wrong, especially Durrell. Retirement investment should be your number one priority after necessary expenses, after all, no one is going to lend you money to retire! You should all be looking at starting 401k's now, when prices are depressed. Also, invest the money, look at it no more than once every 6 months, and forget about it until you reach the next stage in your life.

Absolutely.

I'm pissed over not acting on a hunch.

vikingshadow
10-06-2008, 04:36 PM
I figure it'll be better to buy here in a couple of weeks while prices are low. If my hunch is correct, stocks will come up again based on the election, and other things, of course. It's the PERFECT time to be buying into the market. This same thing happened back in 98 or so and lots of people lost a lot of money in their 401 k's...

Remember, it's a long-term thing - some of you guys won't even be looking at dipping into this thing for another 40-50 years.