is your 401k taking a dive too?

is your 401k taking a dive too?

This is a discussion on is your 401k taking a dive too? within the Off Topic & Humor Discussion forums, part of the The Back Porch category; Mine has gone down 20% in the last year or so, if things keep getting worse it will be gone in a few years. Thinking ...

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Thread: is your 401k taking a dive too?

  1. #1
    Member Array 40S&WMAN's Avatar
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    is your 401k taking a dive too?

    Mine has gone down 20% in the last year or so, if things keep getting worse it will be gone in a few years. Thinking about cashing out and buying things I would actually need if we hit a full blown recession / depression


  2. #2
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    I’m glad my retirement is a guaranteed government pension.
    A real man loves his wife, and places his family as the most important thing in life. Nothing has brought me more peace and content in life than simply being a good husband and father.

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    Member Array G96X0's Avatar
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    The financial "experts" have pointed out. If you ride the valley, the peak will come back with time.

    I have invested all my money in my business, so it's do or die for me. I am keeping close tabs on my customers these days.

  4. #4
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    Yup, 401 Ks are going down fast. But selling is a big mistake if you have about 7 years of so before retirement. (I truly think things will turn around quickly after the election...and I'm usually not an optimist, but on this I am.)

    I know most folks can't manage to arrange a balanced retirement, but if possible you want your retirement to stand on 4 legs: a) home ownership (however humble); b) social security (however meager); c) savings (401 k IRAs etc.); d) a defined pension if you are still lucky enough to have access to one.

    The recent trend towards employers dumping defined pensions is very regrettable. It is setting up you middle aged boomers and younger folk for a big bad fall.

  5. #5
    VIP Member Array David in FL's Avatar
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    You might want to have someone who knows what they're doing take a look at your investments. You're invested in the wrong funds. A mistake that many make is that when they think "long term" they don't realize that they still need to review and rebalance their portfolios on a continuing basis. There's plenty of opportunity out there....

    I'm a little over 8% ytd....not great, but a solid return in a tough economy. Energy funds by themselves are 15%+ ytd BTW......

    My .02
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  6. #6
    VIP Member Array farronwolf's Avatar
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    Nope, cause I don't have a 401k or any other employer sponsored plan. I am self employed.
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    Nope.
    "Just blame Sixto"

  8. #8
    VIP Member Array edr9x23super's Avatar
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    your 401ks will come back. as another poster opined, after the election things will clear up, the planet will be healed, and everything will be OK......

    Just ask Obama
    "Guard with jealous attention the public liberty. Suspect everyone who approaches that jewel. Unfortunately, nothing will preserve it but downright force. Whenever you give up that force, you are inevitably ruined". - Patrick Henry

  9. #9
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    Quote Originally Posted by edr9x23super View Post
    after the election things will clear up, the planet will be healed, and everything will be OK......
    Yes, regardless of which candidate wins. It will have to come true in order for us to pay the increase in taxes that are inevitable after the government takes our money to bail out those folks on Wall St. that have ruined our economy.
    "Society never advances. It recedes as fast on one side as it gains on the other. It undergoes continual change; but this change is not [an improvement]. For everything that is given, something is taken."
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  10. #10
    Member Array 40S&WMAN's Avatar
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    so i should cash out and buy insane amounts of ammo?

  11. #11
    Member Array alfack's Avatar
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    If you cash out, remember you will be giving the govt. a large percentage of it, in the form of taxes.

    Myself, I don't think they need any of my personal savings right now. They damn sure haven't earned it.

  12. #12
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    perhaps

    Quote Originally Posted by 40S&WMAN View Post
    so i should cash out and buy insane amounts of ammo?
    Don't know if it is true or not, but I heard somewhere that today the treasury has halted the sale of gold coins. I guess they don't want folks cahsing out their bank accounts to buy gold.

    SO, insane amounts of ammo might be a good investment; and then again, the war will eventually end, a substitute for some critical metals in ammo will be invented, and prices will tumble. You could be stuck having to have one heck of a good time at the range 'cause you won't be able to turn the ammo back into cash.

  13. #13
    Distinguished Member Array Stetson's Avatar
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    My health is iffy,so I moved most of my money to the bond market where it safe. No risk with a pay off of 5% but I get to keep what I put in.I remember back in the early 90's when I lost a third of my portfolio to tech stocks.After
    that mess I said to myself,self don't let that happen again dummy ! I hear all
    the guys moan daily as most of them now will have to extend there plans on working . Another tragedy of my generation as we have already worked more hours,worked longer for less because of government overspending, taxing !
    Last edited by pgrass101; September 26th, 2008 at 10:00 PM. Reason: Removed language

  14. #14
    Member Array Detroittwister's Avatar
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    I went to cash on Jan 1st 2007 new this was coming. Now I just wait for a good buy like AIG, 2000 shares at $2.00 and sold at $5. Nice little profit.
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  15. #15
    Senior Member Array Shizzlemah's Avatar
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    Wish we could move funds to "cash" or some other holding pattern. We just changed to Vanguard and they are ticking me off. If you sell any amount of any fund, you are not allowed to buy back into that fund for 60 days. I like the flexability to move "at will" and this is a major drag.

    My funds have dropped about 10% earlier in the year, they have been stable over the last few weeks.

    I am considering taking a 401k loan to pay off my mortgage. That would stop the losses on some funds, and would be a 6% return in my pocket (versus 6% to the mort co, and a 4-5% loss on the money in the 401k funds)

    I'm not overly concerned. Obama will provide all that I need, money will be irrelevant...

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