Holy shit, another 2.9% today for the DJIA? Glad Im young with plenty of recovery time but shit...some people have got to be losing some serious cash just before retirement.
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Holy shit, another 2.9% today for the DJIA? Glad Im young with plenty of recovery time but shit...some people have got to be losing some serious cash just before retirement.
Stock Prices? "They will fluctuate" JP Morgan.
I try to only evaluate mine a couple times a year, I'm only in my 20s so I'm in it for the long haul. The rate on my ING online savings account has gone to shit though, fucking fed rate cuts.
Yeah, I'm getting fucked on my ING account right now too. It seemed like such a sweet deal for a savings account untill people decided they could afford a $500k house on $30k a year.:cussing:Quote:
Originally Posted by Dantheman
Lost 0ver 80% on my 401k while i was working for Williams communications back in 96/97 it went from about 75k to 16k.Only because all was in company stock.I know a bunch of people lost almost all their retirements at Nortel at same time think it went from 70 to like 2 or 3.Took me 10 yrs to get to that number again and it keeps goin down.
Rich keep gettin richer
Time for a revolution,yes?
How about you all do me a write in on the upcomming 2008 presidential election.
Sort of an internet revolution
Pubes for president
Putting your retirement entirely in the company you work for's stock is asking to get hurt. Diversification much? Technically you shouldn't have any of your retirement in your company's stock except if its like options or something. I mean you already get your paycheck from them why put your retirement on their success as well? I hope you don't have all your 401k or IRA money in the new company you work for now. For your sake.
Plus anyone with a 401k, you can put more of a contribution now when the market's down (more than the 1/12 max). You may max out before year end but at least you're getting in while its lower. Use it to your advantage. The market's down over 10% from its high and while it may go down a bit more or be volatile for another 6 months, the long term trend is up. And since the 401k idea is long term, you'll be alright.
Same thing happened to a good friend of mine who was at Williams, you may know her, her name is Jane C., she was pretty high up and commuted weekly from DC to Tulsa, please pm me if that rings a bell.Quote:
Originally Posted by pubes
http://stockcharts.com/charts/histor...1900print.htmlQuote:
Originally Posted by Brock Landers
I have all of my accounts well diversified. I've lost 6% total since the beginning of December. I attribute it to not only good diversification, but choosing funds with good managers that have tenure during times of serious market crisis. I'm not in any individual stocks right now.
I'm not feeling too bad about it. A 6% loss on what by all standards is considered an aggressive portfolio is nothing. I will continue to do systematic investment into my current portfolio in hopes of 'dollar cost averaging' and lowering my basis over time.
That said, on a daily basis I'm watching some seriously huge losses by many people that didn't have well designed portfolios. Lots of people are taking hits in the 20%+ range. It's pretty ugly out there right now.
I can only imagine that because of these large losses, retired individuals as well as those that spend money from brokerage accounts are going to have to pull out less spending money for the next little while, which will only compound the problem. The media is not helping. The more they hype the problem, the more consumer spending and investing drops.
Now is a good time to review your portfolio and re-balance it and consider how much risk you want to take over the next year or two.
Nope,worked as a field tech out of stamford ct officeQuote:
Originally Posted by iceman
Ya i know, but company was boomin with fiber and had split 3 times in 2 yrs.Today my pidely ass account is managed and i no longer really work just ski and golfQuote:
Originally Posted by skiaholik
YES!Quote:
Originally Posted by skiaholik
Don't think of the value of your assest now, think of the value when you're planning to retire. Sure its nice to get a fat statement in the mail NOW but I'd rather be buying the shit on the cheap now and sell it AFTER its gone back up.
I hope it goes back up.
After my latest prediction on the unemployment figures I am now officially a contrarian indicator.
Buy high, sell low.
probably some small short covering tomorrow before weekly claims on thursday morning. if those are bad (and they haven't been that awful,yet )... watch out.