Your 401k

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howhill1
 
Posts: 669
Joined: Fri Apr 25, 2008 12:50 pm

RE: Your 401k

Postby howhill1 » Fri Oct 10, 2008 2:43 pm

i think i used to have one[:@]
"please join the N.R.A. as well as your state rifle association! these are critical times for ALL gun owners. Be informed, be active and stay vigilant"

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buckhunter21
 
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Joined: Thu Apr 24, 2008 7:28 pm

RE: Your 401k

Postby buckhunter21 » Fri Oct 10, 2008 4:47 pm

Yea, real rough times right now guys and gals.  I work for one of the top four biggest banks in the U.S. as an investment advisor and the last couple months have been the busiest I've seen since I started working here and the busiest that a lot of my coworkers have seen and some of them have been around 30+ years.  It's pretty sad when we think it's a good day when the Dow only drops a 100 or so.  Wish I could offer all of you some advice but I'm not even sure what the future will hold.  None of us thought it would come to this...Best thing I can say is if you need your money with in the next 5 years or so I would def. think of putting it into something VERY safe, as you can't afford to lose anymore than you already have.  I feel bad for everyone on the verge of retirement.  But, keep the faith....It's not the end of the world and things will turn around just a matter of time.  For all you with quite a few years left before retirement, now is the best time to buy and the worst thing you can do it take that money out. 

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JOEL
 
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Joined: Tue May 06, 2008 7:05 am

RE: Your 401k

Postby JOEL » Fri Oct 10, 2008 9:12 pm

ORIGINAL: tjmeyers

If you wait a little longer, it will be a great time to invest. Everything will be dirt cheap.
the bottom is near.Not for nothing the price of oil dropped in 1/2.ya think people would be happy?HERD MENTALITY has taken over .people are running with the herd(lemminings).STOP TAKE A BREATH,THE MARKET HAS DONE THIS HOW MANY TIMES SINCE THE 70'S.if your the average guy your 401k,annuity,pension has taken a hit.remember the tech bubble burst?people are flipping out ,buying safes.i saw one idiot saying "my name is joe blow ,i live at 2012st i keep all my money in this here shoe box..geee ya think he's gonna get robbed?unless you got more than 250,000 in the bank dont freak out.those ammo prices ,gas/oil,the euro/british pound vs the dollar?haha squashed,the european/asian markets are freaking,if we dont buy stuff from them ,KABOOM goes there market.tough times ahead?sure!did you trake out a loan you couldnt afford?ya might have trouble...wait here comes joe taxpayer..watch your money like your grandparents did and pray
"Go afield with a good attitude, with respect for the wildlife you hunt and for the forest and fields in which you walk. Immerse yourself in the outdoor experience. It will cleanse your soul and make you a better person." - Fred Bear

wordbird
 
Posts: 77
Joined: Tue Aug 19, 2008 3:44 pm

RE: Your 401k

Postby wordbird » Sat Oct 11, 2008 6:05 am

I'm no financial wizard or anything but I do have investments. Some are safe, some risky. The risky ones have taken a big hit but I rode it down and I will ride it back up. If you look back at all the market crashes over the last few decades, you will see that in the few years after, the Dow hit an all time high. There is no reason to doubt that it will not do the same this time. The folks who have those few years left before retiring (as I do) should do well. 

danesdad
 
Posts: 559
Joined: Tue Apr 29, 2008 6:40 pm

RE: Your 401k

Postby danesdad » Tue Oct 14, 2008 4:34 pm

A lot of people wotrry about the hit their 401K is taking with stock values this low.  I look at it like, the lower the value of stock is now, the more my dollars buy now and the more I'll have later.  This is a buyers market.  Is Warren Buffet or T. Boone Pickens getting out of the market?  Then, neither am I.

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buckhunter21
 
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Joined: Thu Apr 24, 2008 7:28 pm

RE: Your 401k

Postby buckhunter21 » Tue Oct 14, 2008 5:36 pm

I echo those sentiments...A wise man once said to be afraid once everyone doesn't 'worry' anymore and are buying stocks left and right.  But to feel 'comfortable' when everyone is worrying and getting out...that's when you get in and grab what you can!  This all has to do with age of course...Depending on where you are in your life!

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