W2W402 Posted September 30, 2008 Report Share Posted September 30, 2008 (edited) Fortunatley me and the wife have made some good choices and have not been affected, as of yet. We've both got very good jobs (she's in the dental business and Im in the solar panel industry) but what worries me is the stock market. We both contribute quite a bit into the market but are loosing are butts. What should we do, pull out, stay in, what? I am heavly invested in the Market and since last November (07) I have lost more than I'd ever like to admit. My finacial advisor told me last week if the Government doesn't do the bailout you should absolutely pull everything...unless you have things like an annunity with the correct protection suronding it. Now that was with my situation so it's hard to say what you or anyone else should do. I try my hardest to not pay attention the the news or hype of daily BS, and tell myself i'm in this for the long haul , but with things like this it's almost impossible to ignore. Again, I'm not the profesional but I do trust my guy. Edited September 30, 2008 by W2W402 (see edit history) Quote Link to comment Share on other sites More sharing options...
CenWaSS Posted September 30, 2008 Report Share Posted September 30, 2008 I am heavly invested in the Market and since last November (07) I have lost more than I'd ever like to admit. My finacial advisor told me last week if the Government doesn't do the bailout you should absolutely pull everything...unless you have things like an annunity with the correct protection suronding it. Now that was with my situation so it's hard to say what you or anyone else should do. I try my hardest to not pay attention the the news or hype of daily BS, and tell myself i'm in this for the long haul , but with things like this it's almost impossible to ignore. Again, I'm not the profesional but I do trust my guy. I hear ya brother! Im not one to move my money around much but I do watch the market pretty much daily. I too am in for the long haul but DAAAMMMMNNNN, it hard to watch what we put in not doing anything, shoot we're going backwards. I tell the wife we may as well just keep the cash and throw it out the window...its the same thing. I think Im gonna make a map and bury my cash in coffee cans Quote Link to comment Share on other sites More sharing options...
SilveradoEsEs Posted September 30, 2008 Report Share Posted September 30, 2008 What pisses me off is that I participate in my companies 401k plan and I'm losing my ass with no way to stop the bleeding! Every fund that my co. offers is down for the year! Quote Link to comment Share on other sites More sharing options...
haul@ss Posted September 30, 2008 Report Share Posted September 30, 2008 What pisses me off is that I participate in my companies 401k plan and I'm losing my ass with no way to stop the bleeding! Every fund that my co. offers is down for the year! I'm not too into the stock market or anything and am still pretty new to 401K but i figured I'd start it while i'm still young and let it grow. (i'm 19 yrs old btw). I work for fedex and they do the 401k with Vanguard. I was planning on going with the 6%, of course i could do more but i think thats where they max their match??? should i hold off on this for now or what? I don't wanna make a huge mistake at such a young age haha Quote Link to comment Share on other sites More sharing options...
BILLS04SS Posted September 30, 2008 Report Share Posted September 30, 2008 You guys need to understand that the 401k funds are for the long term haul. Look at it this way, you are buying stocks from your companies at their lowest and banking on the long term returns. This is no time to panic. Unless you are in your 80's and trying to cash in your stocks. Quote Link to comment Share on other sites More sharing options...
detjoe Posted September 30, 2008 Report Share Posted September 30, 2008 my friend was just told they cannot proceed with closing on a house b/c of this... I would rather eat bread and water than bail out a company that was stupid...well shit I am already eating bread and water b/c I have been unemployed for all of last year and working on my second year (and f#@K I have a degree) It is a mess and if you watch it...its worse b/c these polticans are so disconnected with real people. Quote Link to comment Share on other sites More sharing options...
SSThunder Posted September 30, 2008 Report Share Posted September 30, 2008 (edited) my friend was just told they cannot proceed with closing on a house b/c of this...I would rather eat bread and water than bail out a company that was stupid...well shit I am already eating bread and water b/c I have been unemployed for all of last year and working on my second year (and f#@K I have a degree) It is a mess and if you watch it...its worse b/c these polticans are so disconnected with real people.Dang that sucks. What reason did they give him? I'm curious because I'm trying to close on my house nov. 1st and I'm worried the rates will go all crazy. Wehn I first got preapproval the rate was like 5.85% and last I checked it was 6.375% I'm glad I sold the old one yesterday. If I don't get a new house, I'll at least have extra $$$ in the bank for more mods :devil Edited September 30, 2008 by detjoe (see edit history) Quote Link to comment Share on other sites More sharing options...
Krambo Posted September 30, 2008 Report Share Posted September 30, 2008 You guys need to understand that the 401k funds are for the long term haul. Look at it this way, you are buying stocks from your companies at their lowest and banking on the long term returns. This is no time to panic. Unless you are in your 80's and trying to cash in your stocks. Absolutely. At 32 years old, I am loving every minute of this. As long as I am employed, I will dump as much $$$ into my stock portfolio as I can. Now is the time TO BE IN THE MARKET for the long term holders. I am somewhat diversified however I invest about 90% in stocks of varying risk. DOLLAR COST AVERGING will pay big in situations like this. I have also INCREASED my 529 plan contributions for my girls college investments. Quote Link to comment Share on other sites More sharing options...
CoolBlueSS Posted September 30, 2008 Report Share Posted September 30, 2008 my friend was just told they cannot proceed with closing on a house b/c of this... I would rather eat bread and water than bail out a company that was stupid...well shit I am already eating bread and water b/c I have been unemployed for all of last year and working on my second year (and f#@K I have a degree) It is a mess and if you watch it...its worse b/c these polticans are so disconnected with real people. I say let them fall flat on their face. They made the decision to loan money to broke people to buy a house that is waaaaaaay beyond their means, and they want the tax paers to bail them out. F that. I believe it will recover. It may take some time, but it wont be as bad as their making it out to be, imo. The one really affected by this are the ones running the mortgage companies that made the bad decisions. Quote Link to comment Share on other sites More sharing options...
Big O Posted September 30, 2008 Report Share Posted September 30, 2008 You guys need to understand that the 401k funds are for the long term haul. Look at it this way, you are buying stocks from your companies at their lowest and banking on the long term returns. This is no time to panic. Unless you are in your 80's and trying to cash in your stocks. Absolutely. At 32 years old, I am loving every minute of this. As long as I am employed, I will dump as much $$$ into my stock portfolio as I can. Now is the time TO BE IN THE MARKET for the long term holders. I am somewhat diversified however I invest about 90% in stocks of varying risk. DOLLAR COST AVERGING will pay big in situations like this. I have also INCREASED my 529 plan contributions for my girls college investments. These guys are absolutely correct ... Quote Link to comment Share on other sites More sharing options...
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