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  1. #1
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    401k and economy question

    Everyone that has a 401k what would you do or better yet would like to do with it?

    What would you do to fix the economy?



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    Re: 401k and economy question

    I don't think the economy is broken. The lending sector has problems, but the rest economy seems good.

    I'm riding it out. I've got a long time until I retire.


    Last edited by Bobber; 10-09-2008 at 06:57 PM.

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    Re: 401k and economy question

    Let this thing crash, so we can actually get it going when it is done instead of trying to "save" natural cycles with government intervention.


    They who can give up essential liberty to obtain a little temporary safety, deserve neither liberty nor safety. - Benjamin Franklin 1775

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    Re: 401k and economy question

    riding it out myself. best thing you can do at this point.



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    Re: 401k and economy question

    The other thing I find encouraging is that we may finally be moving to less of a credit based economy. I think that will be a good thing long term.



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    Re: 401k and economy question

    I'm throwing away statements before looking at them. Not much else I can do.



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    Re: 401k and economy question

    Quote Originally Posted by brianhos View Post
    Let this thing crash, so we can actually get it going when it is done instead of trying to "save" natural cycles with government intervention.
    Exactly, the market always finds a way to correct itself. Keep the government out of it and let the correction happen. The faster the natural correction happens and the more the government stays on the sideline the faster we can get things turned around, and when it does turn around the people that remained calm and stayed the course will reap huge benefits. Just think of it this way, everything is on sale right now. Who doesn't love a good sale.


    Last edited by Covenant Clone; 10-09-2008 at 07:02 PM.

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    Re: 401k and economy question

    I have been thinking it might be a good time to take some loses and sell off some stocks and doing some day trading to make up the difference.



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    Re: 401k and economy question

    I'd say that depends on how close you are to retirement, how much attention you want to pay to your stocks, etc. I am no expert at all but I have been talking to as many people as possible lately to gain some insight.

    I made a couple moves last night... but I am in a different situtation right now since my company just got bought out. So i have my old 401K sitting there with no more contributions to it until January when we are able to merge it into our new 401K or put it in whatever. So I took all my investments in that one and put them in "safer" investments, since the stock market certainly isn't going to rebound in the next couple of months, and I'd rather save what I have in it then lose more of it with everything going on.

    Lots of people I work with (myself included) put our new 401K contributions into a safe money market fund.... I plan on keeping it there, watching the situation.... and when the market completley bottoms out I will put that money back into more aggressive stocks. I dont want to just lose that nice company match because I think it is going to say ugly for awhile.

    My brother took all of his money out of the stock market 1 year ago when it was at its peak and put it in CDs and other safe places.... everyone told him he was crazy to do that, now he has tens of thousands more than he would have if he left it in.



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    Re: 401k and economy question

    hard to sell now but i don't know.


    i think i'll sell all of my Target stock and start shopping at wal-mart? sorry, brianhos.



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    Re: 401k and economy question

    Quote Originally Posted by Dave19642006 View Post
    Everyone that has a 401k what would you do or better yet would like to do with it?
    If you were going to take your money out of stocks, the time to do it would have been a year ago.



  12. #12
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    Re: 401k and economy question

    you tell us all when it bottoms out, nobody over at Wharton seems to know when that'll be but I'm counting on you......in the meantime I'll buy my straw hats in the winter and reap the fruits of this incredible buying opportunity



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    Re: 401k and economy question

    Safe is okay, but very little return. Remember that low markets can be the best time to buy and invest. You're using dollars, but buying shares. And when -- yes, when -- the markets go up, your shares are worth more.

    For now, I'm looking at my statements with mild interest, and remembering that it's all just on paper for now. My accounts generally are still worth more than I personally paid into them.



  14. #14
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    Re: 401k and economy question

    Used to be a market timer, but got burned enough and read enough to figure out that's not a good strategy. Dollar Cost Average invest and never sell.

    Oh and while I agree it's a long shot, the market could be back by December.



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    Re: 401k and economy question

    Unfortunately a government bailout is the only option. One of the major problems right now, outside of the is the housing market, is that that companies that rely on loans to fund their inventories no longer have them. So in order to fix this we need to fix the lenders. I do not want the government to bail out the lenders but it is absolutely necessary.



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