What do you do with your 401K?
polkatese
Posts: 6,767
As you watch your 401k goes down everyday (now that DJ Index goes to 2003 level) what do you do? let it ride or move it to 401K money market? I've been hearing conflicting advice as what best to do. I like to hear your thoughts. I have about 20 years before mandatory retirement draw down.
Thanks.
Thanks.
I am sorry, I have no opinion on the matter. I am sure you do. So, don't mind me, I just want to talk audio and pie.
Post edited by polkatese on
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Hey whats going on ??
I moved my 401k into a IRA. I haven't done anything with it yet after that. It saves me the thousands of dollars I was losing each and every month for the last few months. I lost well over 10k in 3 months. I have put thousands into it and lost so much more.
I would call your bank or Whoever does your 401k and see what your options are. This seemed like the best option for me. I'm in it for the long haul not short term but the short term loss was killing me. Now that I'm laid and my company is going under, I worry about every single cent to my name.
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i figure I still have 22 years till i retire, 55 and i have lost about 40% roughly 70K but i figure its got to go up in 22 years. Plus i look at it this way, i am buying it while it is cheap. dont be worried about it if you have some years left till you retire.Receiver Yamaha 3070 *Emotiva xpa5 * Behringer iNuke 6000dsp *Monster Cable HTS 3500 -- line conditioner * Panamax 5300 * Apple 4K * Panasonic UB820 * JVC NX5 * Silver Ticket thin bezel 120”
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cash that **** in!!!
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As you watch your 401k goes down everyday (now that DJ Index goes to 2003 level) what do you do? let it ride or move it to 401K money market? I've been hearing conflicting advice as what best to do. I like to hear your thoughts. I have about 20 years before mandatory retirement draw down.
Thanks.i figure I still have 22 years till i retire, 55 and i have lost about 40% roughly 70K but i figure its got to go up in 22 years. Plus i look at it this way, i am buying it while it is cheap. dont be worried about it if you have some years left till you retire.
Frances, Jeremie's thoughts are similiar to mine. I'm buying index funds even if they are going lower in the near future. Funds work because you are buying more often when stocks are low than when they are high.
Everyone's situation is different, but selling now and taking an immediate loss on stocks when they should return is not a good idea (long term). Mantis may have a different situation if he's between jobs in an slumping economy.
Mantis, sorry to hear about your difficult times. Hang in there we're all pulling for you!Carl -
Mike Kozak wrote: »cash that **** in!!!
From what Ive read this is the worst advise ever.Shoot the jumper.....................BALLIN.............!!!!!
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i figure I still have 22 years till i retire, 55 and i have lost about 40% roughly 70K but i figure its got to go up in 22 years. Plus i look at it this way, i am buying it while it is cheap. dont be worried about it if you have some years left till you retire.
Ding ding. Unless you're desperate for cash, I really wouldn't mess with it much.If you will it, dude, it is no dream. -
I'm doing nothing / hold. Why like you have 20 years or so, we are also buying stock at a discounted rate so when it moves up we're golden. Move it now at a lost and when it moves we're out.
Well that's my $.02 at this age.
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Watched it crash and burn. Like others I have another 20+ to go before retirement so I can hopefully recreate what little I had.
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Each month my 401K contribution is purchasing more shares than before. Sell if you like...but there is nothing like a BUY HIGH...SELL LOW strategy to gurarantee that your 401K will be of little value. History tells us that when the market recovers after a recession, stocks regain 80% of their lost value in the first 12 months. There is nothing here that makes me think that won't happen now. Times are hard but the economic world as we know it will not cease to exist...it may change drastically but there is still real value in the companies. I for one am staying the course...and I am much closer to retirement than most of you."Just because youre offended doesnt mean youre right." - Ricky Gervais
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Thanks for your thoughts, guys. I've been sitting on the sideline watching the carnage and wondering what others do. One of my trusted CPA friend got so disillusioned that he took the loss and converted his remaining mutual funds 401K to CD 401K. His intention is to figure out a REIT Investment strategy that he can get into (still as a 401K deferred investment), since he believes that RE would be the few areas that would prosper in the future. He lost confidence on the market as he believes the institutions (brokerage) are taking care of themselves, as in, they are making their monies whether the market is up or down, and doesn't want to leave his future in the hands of Fund Managers, which he thinks are not doing the right thing. There is some truth to his thinking (RE being a sound investment strategy) that got me to think. I am not defending his decisions, but rather trying to understand the risks on both.I am sorry, I have no opinion on the matter. I am sure you do. So, don't mind me, I just want to talk audio and pie.
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I feel bad for people who can retire today and don't have the time to recover. It's scary time for them. Anyone with 6+ years is ok I would think.
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I plan on upping my contributions during the next open enrollment period.Proud SOPA Member since 2005!
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Almost all 401K plans have as an investment option a money market fund ...
I'm not suggesting that one move their money to this alternative now but this would have been a great place to be for the last year ...
IMHO it's not about making gains ... It's about keeping them ... -
im buying more today than i ever have.
Im even buying with scottrade trying to get as much as i can with my fun money.. It takes alot for me to stop buying the crap I love(party) and invest(boooooring) but the time is right IMO -
As you watch your 401k goes down everyday (now that DJ Index goes to 2003 level) what do you do? let it ride or move it to 401K money market? I've been hearing conflicting advice as what best to do. I like to hear your thoughts. I have about 20 years before mandatory retirement draw down.
Thanks.
1 - Close eyes and ignore numbers.
2 - Pray and pray and pray that you get it all back someday.
It's not working yet, but I have faith now!Alea jacta est! -
im buying more today than i ever have.
Im even buying with scottrade trying to get as much as i can with my fun money.. It takes alot for me to stop buying the crap I love(party) and invest(boooooring) but the time is right IMO
You have the right idea my man. Working for a retirement company, we get these questions all the time. One of the guys that works for the company that manages our funds encouraged doing the same thing. Think about this, when the market was good, let's say for example that for every $100, you got 100 shares. Give that the market has tanked, that same $100 would buy you 300 shares(not an exact figure by any means).
The biggest thing we have heard recommended is if you are close to retirement (within the next five years or so) put it in a money market or some other conservative fund. If you have time though, just wait it out and buy as much as you can while the prices are good.I know just enough to be dangerous, but don't tell my wife, she thinks I'm a genius.
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Well, if you had sold off your stocks and invested in cash/income funds around Sept 07- Feb 08, you're doing ok-That was the time to sell. At this point you should be buying or holding tight. Last thing you want to do is sell and buy back in after the market reccovers.
Remember one of Buffett's many axioms: Always do the opposite of the market- When people are selling, buy, when people are buying, sell...There is no genuine justice in any scheme of feeding and coddling the loafer whose only ponderable energies are devoted wholly to reproduction. Nine-tenths of the rights he bellows for are really privileges and he does nothing to deserve them. We not only acquired a vast population of morons, we have inculcated all morons, old or young, with the doctrine that the decent and industrious people of the country are bound to support them for all time.-Menkin -
My fidelity account stocks are down about 50% on the year now, which sucks considering that account was up 15% YTD in March. Rough 8 months, especially for my commodity and energy stocks.
I'm just going to ride it out considering I'm not yet 30. Sucks to lose more than your salary in the market in one year, though. I've bought here and there the past few weeks as well, hoping for a rebound, but those seem to be heading further south for the time being.
Guess you just hope for the best at this point. When you've lost 40-50%, it's hard to even consider selling and taking that big of a loss. May as well hold or buy and hope things turn around before you HAVE to take money out. Maybe I need to fire my CFA?Stereo Rig: Hales Revelation 3, Musical Fidelity CD-Pre 24, Forte Model 3 amp, Lexicon RT-10 SACD, MMF-5 w/speedbox, Forte Model 2 Phono Pre, Cardas Crosslink, APC H15, URC MX-950, Lovan Stand
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I moved a little bit of mine out for a few weeks when things were really dropping.. then moved em back.. only to have them drop even further again. I'm just leaving it alone. if I retire broke.. well, that's just life. I know that I did my best to try and invest in an aggressive 401K plan through work... and because some people got greedy.. i've currently lost 48% of what I had saved.
So i'm leaving what small amount is left of my ailing 401K alone till it's all gone. I highly doubt it'll recover all that was lost. Yeah i'm a pessimist.PolkFest 2012, who's going>?
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It ain't really a loss until you cash it out....For those who don't need to take it out, its just numbers. It will still be at least a good 6 months or so before it stabilizes. Just don't look at it . I have a price point for the market 7000 to 7500 and I might just switch a big chunk into the equity funds.
Of course I don't have a crystal ball and noone knows.....thats my wild **** guess and i'm gonna try it lolTV...............Hitachi 42hdS52a plasma (sexy one with the swival)
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I just checked my 401k balance......
OMG I didn't even think it was my account. Half gone.
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I really felt the s**t was going to hit the fan, so I moved my 401K into a bond fund last Nov. I've lost a couple of points, but nothing major. I figure the bottom will happen around 7K, and that's when I figure to go all in on stocks again.
I will say this, as soon as Obama gets in office, I'm thinking about rolling a bunch into GM. I"m sure they'll bail them out next time around, and the big three should see a big bump in the short term when it happens.
I figure I might as well make money on the gov **** me.My equipment sig felt inadequate and deleted itself. -
disneyjoe7 wrote: »I just checked my 401k balance......
OMG I didn't even think it was my account. Half gone.
The trick is NOT to check.I am sorry, I have no opinion on the matter. I am sure you do. So, don't mind me, I just want to talk audio and pie. -
PRECISELY! I don't want to know. I'm not retiring for another 15-20 yrs. It'll come back by then.The trick is NOT to check.Marantz AV-7705 PrePro, Classé 5 channel 200wpc Amp, Oppo 103 BluRay, Rotel RCD-1072 CDP, Sony XBR-49X800E TV, Polk S60 Main Speakers, Polk ES30 Center Channel, Polk S15 Surround Speakers SVS SB12-NSD x2
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disneyjoe7 wrote: »I just checked my 401k balance......
OMG I didn't even think it was my account. Half gone.
sounds like your 401K is on life support too.PolkFest 2012, who's going>?
Vancouver, Canada Sept 30th, 2012 - Madonna concert :cheesygrin: -
aren't we all? regardless of your 401k mix, the trend is down globally...I am sorry, I have no opinion on the matter. I am sure you do. So, don't mind me, I just want to talk audio and pie.
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went from 7% match in 2 accounts to 1% in each about 6 months ago ..rest into savings...this way I might have some $$$ when and if a rebound occurs as there are soooooo many good buys out there..problem is how much lower will it go 6,5000 by Jan......and the mattress is already full