401K and Today's Stocks

Wildsporty

Is there anyone on the list that has a 401K that hasn't gone down dramatically the last few days?

Has anyone looked at their 401K in the last few days?

It is not good.

ray a

Yep, I track it every month. Quite ugly right now. Guess I won't be retiring this year.

NaeNae55

I happened to check my account yesterday and it had dropped almost 8 percent in the last few weeks. Such voliatility is common in today's market. It will come back; it always does. I just have to have enough time between now and my retirement for it to do so (usually well less than 10 years).


Nae

Paul in Cannon Beach

I dont look at mine. The best thing I have going for me is my life insurance policy.

ray a

Paul, is your wife aware of that??????

Paul in Cannon Beach

She is well aware of that.

For my birthday she bought me hangliding lessons. Last year, she sent me bungee jumping.

E Wart

I look at mine at least once a month. And, yep, it has gone done about 5.6 %.. However, last night it went up about 1%. I am excited. We made a deposit in our account this week and I got a great buy!!! I am thrilled when stocks/market goes down because I can buy. Remember, you are dollar cost averging and you don't loose until you sell it. If you are worried about it... put it in a money market and be safe, but work 10 years longer.

E Wart

Wildsporty

If I work 10 years longer I won't need the retirement I will be dead! Let's see now what can you do with retirement at 80?

Dutch2

It wasn't that long ago that so many companies were bailing out of their defined benefit plans and going to 401(k) Plans, primarily due to the gains that stock market had been posting. I too am hoping that it is cyclical. The key is to retire when the market is up. Timing is everything. Of course location helps; as does have wealthy parents...

Wildsporty

Well timing isn't working for me and I don't have wealthy parents so I guess I am out of luck!

I do have a good location. One point for me.

Shirley

njjel

I'm ready to go in two years so I sure hope it rebounds QUICK. Any future 401(k) money will be going into safe accounts I guess. I hope this doesn't go down like it did just a few years ago!

Paul in Cannon Beach

Have you seen the documentary, "The Smartest Guys In The Room" about the Enron scandal? Its absolutely tragic what happened to the decent people working at Enron who watched their life savings literally dissappear because of the raw greed of Ken Lay and Schilling.

I hope they spend the rest of their lives in prison.

ray a

Well, the Dow was up about 100 points yesterday and about 90 points so far today. And the sun is shining, too.

NaeNae55

The DOW took the dive because all the major investors are jumpy about the guy who replaced Alan Greenspan. It looks like another interest rate hike and it always make the big guys jumpy. These things are temporary.

If you look back, the stock market always comes back and goes even higher. You just have to wait it out. Unfortunately, many of us are nearing retirement age and don't want to wait. Hang in there. The worm will turn.

Nae