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Anybody else with a 401K?
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| Orbital32 |
| DAMN! my portfolio has dropped 37% since the beginning of the year :mad: I stopped contrubiting at this time. I know its only going to get worse as well. |
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| JSmooth619 |
| quote: | Originally posted by Orbital32
DAMN! my portfolio has dropped 37% since the beginning of the year :mad: I stopped contrubiting at this time. I know its only going to get worse as well. |
Same here!
I am scared to check my balance. My employer has stop matching our 401k contrubutions! :mad: |
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| Electrophile |
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| djjoshuaallen |
| quote: | Originally posted by Orbital32
DAMN! my portfolio has dropped 37% since the beginning of the year :mad: I stopped contrubiting at this time. I know its only going to get worse as well. |
to stop contributing is to accept your loss.
unless you are going to retire in the next 5-10 years that is not a smart thing to do. Unit values are dropping, i raised my contributions to get more at a lower price. Im only 26 so by the time i retire this economic scare will have already occurred probably more then once more. |
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| R!CH |
| my pops lost 150k in the last 6 months from his 401k, but he's in it for the longer term so it will eventually rebound before he retires... |
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| Orbital32 |
| quote: | Originally posted by djjoshuaallen
to stop contributing is to accept your loss.
unless you are going to retire in the next 5-10 years that is not a smart thing to do. Unit values are dropping, i raised my contributions to get more at a lower price. Im only 26 so by the time i retire this economic scare will have already occurred probably more then once more. |
I ugess you do make a vaild point. I just hate seeing that much money go away! |
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| cl005k |
| Well as long as anyone is in a traditional buy & hold model (i.e. mutual funds, individual stocks, etc), you will lose as much as the market (Dow, Nasdaq, and S+P 500) loses. For those that have 401Ks, I would urge you guys to check how your accounts are allocated and change them as necessary. |
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| bigsnail |
| somehow, i havent lost anything....havent made either tho :mad: |
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| Trancelover24 |
| quote: | Originally posted by bigsnail
somehow, i havent lost anything....havent made either tho :mad: |
All Bonds?? No way you would not loose any money if its invested in the stock.. |
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| djjoshuaallen |
| quote: | Originally posted by cl005k
For those that have 401Ks, I would urge you guys to check how your accounts are allocated and change them as necessary. |
yea, be sure your portfolio doesnt focus on financials. Mine currently distributes about 45% to domestic stocks, focused on energy & metals. I have not taken that big of a hit, maybe 6% since 01/01 |
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| dj mccord |
my mutual funds suck!
Or the economy sucks. Ha ha ha. |
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| Dj Blurr |
Well, if you guys loose out, you can all come live with me in my mansion my father built for my moms in Philippines. After my father lost some of his 401k back then, and when he pulled outta the US in 2001, he liquidated everything and put all his assets into a house out there. Luckily a pension from the air force his retirement from the service is still there.
From the photos my dads sent, the front of our yard looks similar to the set of the movie The Beach. Makes an awsome vacation spot too!
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