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LEVITRA-OMO
Acting President of the 30,000 ft club
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 Posted - Oct 09 2008 : 15:36:39
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My 401 DAM! These realiy hurts, my money is sinking fast. What the world should I do. I've lost at least half my savings of my 401. I'm trying real hard to belive it's going to get better but I just don't know.
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Country: USA
| Posts: 919 |
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Aged
That's MISTER Lag Monkey to you.
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Posted - Oct 09 2008 : 16:01:37
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If you are more than 10 years from retirement, most likely, you are fine. In fact, if you are more than 10 years from retirement, market drops can be a good thing (i.e., the money you're putting in buys more).
Over any (I think even including during the great depression) 10 year period in history, the stock market outperforms any other investment.
Unless retirement is eminent, you can probably relax.
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Country: USA
| Posts: 2971 |
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burniste
frequent visitor
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Posted - Oct 09 2008 : 16:51:56
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thanks Aged~ sometimes the mind runs wild, when you see the dow
under 9000. 401 and my house are my investments . . .
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Country: USA
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Petrified-OMO
Taxing Patience
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Posted - Oct 09 2008 : 17:44:43
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Yeah, given the volume of loans that in danger status (7/1, 5/1 LIBORs), don't expect to see things turn around significantly until after 2012 - unless someone rewrites all those loans into fixed rate mortgages in which case the turn around may be even later. Bad things happen to markets when you try to prop them up artificially in such a blatant and huge way people are proposing now.
So... sit on your 401K, it will start going back up and anything you are putting in now will show even greater return - but not for awhile. Course, I only have a 401k to boost income I earn later in life since I have no intention to retire.
Love the clock Bernie.
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BackPainOMO
Have Blunderbus, Will Plunder!
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Posted - Oct 09 2008 : 18:10:40
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6 months ago you should have put everything into bonds. Then you would only have lost a couple percentage points. Then, when the market seems like it is going to turn (your guess is as good as mine on when that would be, but you don't have to be hit it exactly) you move stuff back into whatever you usually want to invest in that seems like it took it the hardest during the plunge (but that is otherwise stable stock types).
What will be intersting is to keep an eye on some of the better run financial institutions that are taking it on the chin because of all the bonehead financial institutions and see if there is an opportunity for some major price recovery.
Of course, I do not have a clue what I'm talking about.
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| "The (Democratic) Party seeks power entirely for its own sake. We are not interested in the good of others; we are interested solely in power. Not wealth or luxury or long life or happiness: only power, pure power. ... We know that no one ever seizes power with the intention of relinquishing it. Power is not a means, it is an end. One does not establish a dictatorship in order to safeguard a revolution; one makes the revolution in order to establish the dictatorship. The object of persecution is persecution. The object of torture is torture. The object of power is power. Now do you begin to understand me?" --George Orwell, "1984" - And if you have not figured that out by now with Obama in office, there is no hope. |
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| Posts: 2406 |
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BackPainOMO
Have Blunderbus, Will Plunder!
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Posted - Oct 10 2008 : 07:50:09
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Looks like Obama and Dems are going to win in a landslide. I see no October Surprise on the horizon. Dems should have the White Wouse, Congress, and fillibuster proof Senate. Figure out what publicaaly traded companies would benefit most from a New - New Deal and you will have a winner.
Alternatively, investments in soup kitchens and/or left wing, revisionist history book publishers could do well. Lastly, I hear fatigue school uniforms have a lot of potential with Brown Shirt makers having the inside track.
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| "The (Democratic) Party seeks power entirely for its own sake. We are not interested in the good of others; we are interested solely in power. Not wealth or luxury or long life or happiness: only power, pure power. ... We know that no one ever seizes power with the intention of relinquishing it. Power is not a means, it is an end. One does not establish a dictatorship in order to safeguard a revolution; one makes the revolution in order to establish the dictatorship. The object of persecution is persecution. The object of torture is torture. The object of power is power. Now do you begin to understand me?" --George Orwell, "1984" - And if you have not figured that out by now with Obama in office, there is no hope. |
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Dirtbag-OMO
freakofnature
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Posted - Oct 10 2008 : 09:00:12
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quote:
Originally posted by BackPainOMO
Looks like Obama and Dems are going to win in a landslide. I see no October Surprise on the horizon.
WOOPS.
Now that's "too hot to handle."
I'm going to save this and show it on November 5th.
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Country: USA
| Posts: 1325 |
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Expired-OMO
OMO groupie
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Posted - Oct 10 2008 : 09:34:08
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quote:
Backpain: 6 months ago you should have put everything into bonds. Then you would only have lost a couple percentage points. Then, when the market seems like it is going to turn (your guess is as good as mine on when that would be
That would be very sound advice except for one minor problem. Who knew six months ago that it would tank like it did, because one year ago it was at 14,000 and just 2 months ago it was 11,700. So what would be the "High" point to get out and the "Low" point to buy back in. A friend just tried that because his Advisor told him the market had reached its low last week when the "GOOD OLD BOYS" in Congress stated they had reached a deal on the 700 billion bail out and it would shoot back up. Would you like to guess where its at today.
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Always take your Med's
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BackPainOMO
Have Blunderbus, Will Plunder!
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Posted - Oct 10 2008 : 11:38:41
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"because one year ago it was at 14,000 and just 2 months ago it was 11,700."
That would have been a good clue.
As for trying to time a high point and low point, that is a fool's game.
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| "The (Democratic) Party seeks power entirely for its own sake. We are not interested in the good of others; we are interested solely in power. Not wealth or luxury or long life or happiness: only power, pure power. ... We know that no one ever seizes power with the intention of relinquishing it. Power is not a means, it is an end. One does not establish a dictatorship in order to safeguard a revolution; one makes the revolution in order to establish the dictatorship. The object of persecution is persecution. The object of torture is torture. The object of power is power. Now do you begin to understand me?" --George Orwell, "1984" - And if you have not figured that out by now with Obama in office, there is no hope. |
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BackPainOMO
Have Blunderbus, Will Plunder!
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Posted - Oct 10 2008 : 11:41:33
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quote:
Originally posted by Dirtbag-OMO
quote:
Originally posted by BackPainOMO
Looks like Obama and Dems are going to win in a landslide. I see no October Surprise on the horizon.
WOOPS.
Now that's "too hot to handle."
I'm going to save this and show it on November 5th.
That statement, by itself, is not picking a fight in any way. I think it is a clear and reasonable judgment of where the election is at and trending. It is not disputable.
As for my investment advice, well....
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| "The (Democratic) Party seeks power entirely for its own sake. We are not interested in the good of others; we are interested solely in power. Not wealth or luxury or long life or happiness: only power, pure power. ... We know that no one ever seizes power with the intention of relinquishing it. Power is not a means, it is an end. One does not establish a dictatorship in order to safeguard a revolution; one makes the revolution in order to establish the dictatorship. The object of persecution is persecution. The object of torture is torture. The object of power is power. Now do you begin to understand me?" --George Orwell, "1984" - And if you have not figured that out by now with Obama in office, there is no hope. |
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| Posts: 2406 |
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Bloody
OMO groupie
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Posted - Oct 10 2008 : 11:54:39
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I am fairly young (38) so I have time for retirement account to come back, but I also am 90% in ultra aggressive funds, so.... I am not even going to look at what I have lost in the last 2 weeks or so. I assume it's almost all of what I had. I am not changing my funds and hope to buy up lots of cheap stock while it's tanked and then be OK in the long run. I wish I had cash right now to buy up food related stocks (i.e. Kraft foods, Coke, etc) as they are way down, but will rebound very fast. Food is a must and even during hard times it will still be a good place to invest. I also wish I had cash for some of these foreclosed properties around me. Last week a 1.2 million dollar house here went in the government auction for $600,000. They were saying though that you pretty much had to pay cash, not even good credit would get you a loan on them, as they are forclosed and the banks still see them as risky, even though they are half the price.
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Dirtbag-OMO
freakofnature
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Posted - Oct 10 2008 : 13:01:25
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Microsoft is at an all time low of 21 per share. A great buy!! The company has 40 billion in cash. That speaks loud at this point in time. I know I'm buying in on Microsoft!!!!!!!
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HEARTBURN-OMO
Spammer wannabe
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Posted - Oct 10 2008 : 17:58:52
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Ok, one thing you can do is if you are able to manipulate your 401k (change what funds you have your investment) move everything to the safest fund. That would be the one that produced the lowest return but was stable and remains stable.
I have 3 401k's and I lost about 20% the past 2 months. I moved everything to the safest fund and although my wife lost 14% keeping it in the mixed funds, I have only lost 4% the past two weeks. When I feel it's going to start turning, I'll change my elections back.
I also bought into gold at 790.00. If I was to sell it today I could make up what I lost in my 401k. But, I'm hoping it jumps up to over the 1000.00 mark. The trick will be to dump it before it goes below what I paid. In any case even if I broke even I would come out ahead as compared to my 401k and Roth accounts.
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http://www.entertonement.com/clips/sgxwpvxvjk--I-wipe-my-own-ass |
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Kayjay
Kay"I-buggy-bomb"jay
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Posted - Oct 10 2008 : 22:28:20
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There are 10^11 stars in the galaxy. That used to be a huge number. But it's only a hundred billion. It's less than the national deficit! We used to call them astronomical numbers. Now we should call them economical numbers.
- Richard Feynman
I can safely say that I don't have a 401k or any sort of investments that I know of. December 31st is when my job will be signing me up. Honestly, i wish that I had the spare money to start investing now. what's that saying.. Buy low, sell high?
Ladies and gentlemen, in case you didn't notice, we are witnessing what happened in 1929, only a much, MUCH slower version of it. Look at it. High unemployment rate, banks going out of business, stock market taking a turn for the worse, and even just like in 1929, the foregin markets are getting hit, like during the begining of the great depression. the sad part is that nobody realizes it.
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HEARTBURN-OMO
Spammer wannabe
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Posted - Oct 11 2008 : 20:39:15
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I don't think so. The big difference now is the big problem during the depression was not so much the stock market. It was everyone having their cash in banks. When there was no more money in the bank via run on the bank, bad investments, etc. there were no protections for the every day guy. He was the one that lost everything along with most companies and mom and pops. Remember, back then the country was full of mom and pop businesses. When they lost their cash, they couldn't survive. Today we have $250,000. per deposit insured by the FDIC. It was 100k until last week. If that was not true I would have pulled everything out quickly.
I think this will all settle down after the elections. By the second quarter of next year things might be better.
One thing though. All these banks and investment bankers being bailed out....wouldn't it be nice if the normal people that have lost trillions over the past week, could get somekind of tax relief from their loss?
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http://www.entertonement.com/clips/sgxwpvxvjk--I-wipe-my-own-ass |
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Country: USA
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Petrified-OMO
Taxing Patience
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Posted - Oct 11 2008 : 23:35:21
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Normal people have Trillions?
Dang... I knew I wasn't normal.
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Country: USA
| Posts: 7782 |
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Cadaver-OMO
Dead Man Flying
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Posted - Oct 12 2008 : 00:59:35
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Yeah, I question the bailout. We are in this mess because the public chose to spend more than they could afford, and the banks chose to finance it. So what do we do, give banks more money to lend out on the premise that our economy is underpinned on credit and will collapse the rest of the way without it. Go figure. Hopefully the new credit isn't given out like candy, but I guess it's a free country...
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Country: USA
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Dirtbag-OMO
freakofnature
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Posted - Oct 12 2008 : 07:29:08
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The Government needs to go back to the time before Clinton when he deregulated the banks in 96 and Allowed all these sub prime mortgages.
For now, for the immediate future the Government should allow these people a little flexibility. I'm not saying a bailout as McCain said he would do in his last debate.
I do believe people need to be held accountable for what they do, but the lenders tricked millions of these people just for their own greed.
When this situation is resolved we will see a huge change in the economy.
Until then if you have ANY extra money. I suggest you invest it in the market now with STABLE cash rich companies. There is a lot of really good buys out there. Microsoft being one of them.
I hope nobody thinks this is a 2h2h I'm not starting anything on either side just pointing out some of my opinions.
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Country: USA
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Nosehair-OMO
Administrator
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Posted - Oct 12 2008 : 07:55:00
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LOL DB, It's THTH for sure. However, I'm leaving my $$$ in the market 'cause that's what I'm being told to do. My simple brain says put it under the mattress, but i haven't done that YET. I am coming into a bit more $$$ this week too. Where the ^%#$@ is my money best invested. Do I watch an hour or two of Mad Money and take it from Crammer?!??!
He says General Mills and other "bare necessaties" type companpanies are the place to go.
I'm not sure about the opium trade in Afganistan, while they supply 90% of the global opium, I'm thinking NATO may negatively effect the supply lines.
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Dirtbag-OMO
freakofnature
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Posted - Oct 12 2008 : 08:11:06
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ROFL!!!!!!! Nosey. The media is a good source of valuable information.
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Edited by - Dirtbag-OMO on Oct 12 2008 08:16:25 |
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Country: USA
| Posts: 1325 |
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burniste
frequent visitor
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Posted - Oct 24 2008 : 09:06:23
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"Fear, chaos hit markets
Stocks around the world plunge on fears of a deepening global recession.
» 'Bizarre' moves, even gold down"
ever get the feeling that stock traders are like wildebeasts,
and it's a herd mentality?
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401
