Ouch......no more looking at the 401K.....ugh!

JJsTJ · **Posted:** Tue Oct 07, 2008 1:47 pm

Holy Crap! :!:

I knew I shouldn't have looked at my 401K balance!! It hurts so bad knowing what was in there just a few months ago. Oh well, easy come...easy go...... :evil:

Anyone else out there feeling the pain and wanting to vent about it??

Guess it is as good a time as any to dump More $$ in since everything is at a bargain price now.....or is it?? :roll:

tommudd · **Posted:** Tue Oct 07, 2008 1:54 pm

I try and not look at mine....just hoping everything will bounce back when I have 20 in with the state retirement so I get something there :wink:

By that time I should only need 5000 a month to buy Jeep parts and gas with :lol:

I looked at my stocks yesterday and cried a little at what they are now from what were 6 months ago

Fulltimer · **Posted:** Tue Oct 07, 2008 2:43 pm

I got hit also. This was the first time that I lost principal! Some of my other stuff is still holding it's own though.

Terry

tjkj2002 · **Posted:** Tue Oct 07, 2008 5:22 pm

No 401 or any retirement stuff,I'll never retire so no worries there :wink:

.

Though my old man's land is mine when he dies and he know's I'm selling it,good thing prime farm land is still increasing in value,it's worth about 8 million right now.That's why I don't plan on any retirement,got that land then I'll be dead in a week(to much fun).

VTNomad · **Posted:** Tue Oct 07, 2008 5:26 pm

I'm glad I'm too poor and have too many student loans to have invested in the stock market.

My wife was some inherited stock in BB&T that has surprisingly gone up while all this is going on.

ATXKJ · **Posted:** Tue Oct 07, 2008 7:19 pm

I hear retirement is highly overrated anyway.

dog_party · **Posted:** Tue Oct 07, 2008 7:33 pm

It's rough. My 401K has gone down to the point that I haven't made anything...except my company's 5% match...so I've still made money. I'm not looking at it again though. I say, let it ride.

Trying to decide whether to buy more stock or more land in the down market is the hardest choice for me. Definitely going to do something to diversify. I've looked back too many times and said, "DANGIT! Why didn't I buy that when I had an opportunity."

Tokyojoe · **Posted:** Tue Oct 07, 2008 8:43 pm

I wonder how the federal goverment's TSP program is affected?

TAHOE · **Posted:** Tue Oct 07, 2008 8:48 pm

My last statement about 6 wks ago was depressing, I have resisted even looking at it now....too scared.

CD · **Posted:** Tue Oct 07, 2008 8:56 pm

The reserve bank over here just dropped the official interest rates by 1% :shock:

, that's huge. Biggest drop in 16 years, I'm thinking they are getting worried. I know I am, I don't want to look at my super. I'm just wondering what the banks will pass onto the lenders like me, probably .8 of a %. I tell you there are a lot of peolpe downunder that need a break.

kskj · **Posted:** Tue Oct 07, 2008 9:18 pm

I don't even want to look, I've got seven years to wait it out so hopefuly it will comeback.

Guest · **Posted:** Wed Oct 08, 2008 12:38 am

Mine's only 5 years old, and I haven't checked my balance since then...why start now? :lol:

I don't even know HOW :lol:

KJ Taz · **Posted:** Wed Oct 08, 2008 12:44 am

Been through this in the past, just wait it out it will come back around. To many people panicing................................

What most people don't realize is this is the best time to make money. Interest rates are low, stocks are way under valued. Man the opertunities are they right now to take advantage of. Don't miss the boat.

Guest · **Posted:** Wed Oct 08, 2008 12:46 am

Exactly what I've been thinkin, Taz.

I'd hate to dig into my wheelin fund and miss out on short-term fun though :lol:

JJsTJ · **Posted:** Wed Oct 08, 2008 8:56 am

Yep, down market is a good time to plow more $$ in and Hope that it balances out the short term losses in the end. I too am looking at buying either a piece of ground or a rental house. Hindsight sucks and I have wished that I bought last time real estate was this low so once my debts are paid off, in about 8 months, I will be shopping rentals. I always wanted to be a slum lord! :twisted:

KJ Taz · **Posted:** Wed Oct 08, 2008 11:29 am

Not a bad idea, I know several people that invested in rental properties and are still sitting in good shape. There are now more renters out there.....................They were smart about what they bought and what they could afford to buy. I personally missed the last boat, but I have a good seat on this one. Don't get me wrong, things are still tough for me in this market and economy.

Edvalencia · **Posted:** Wed Oct 08, 2008 12:18 pm

It's as if I just bought a new JK Rubicon, only I don't get to drive it :cry:

I don't worry too much about it, though. I'm in for the long haul and eventually the market will hit bottom, then go back up. I do plan to wait until there is an upward trend before I get in. Either that or when the Dow hits 300 (then it's a safe bet it won't go down much further.)

iambob · **Posted:** Wed Oct 08, 2008 2:49 pm

I figure I'm still putting $ into it and even tho its slow right now it will pick up again. I do want to look at how much I'm losing, but have not. Hmm slum lord that may be something to look into.

Edvalencia · **Posted:** Thu Oct 09, 2008 7:27 pm

Hmmm... GM stock is looking rather attractive right now.

Richrail · **Posted:** Sat Oct 11, 2008 10:59 am

Railroad dosen't do any matching for our 401K just my money. At least I get to direct how its invested so I'm spread out all over the place not much for fast growth but also less loss. I also pay into Railroad retirement fund I won't get Social Security or I don't have to worry about the lack of Social Security. I just hope I have a job to retire from, only 19 years to go.

Ouch......no more looking at the 401K.....ugh!

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