AAARRRRRRRGGGGGGGHHHHHHHH!!!!!!!!

I have lost so much value in my 401K and personall stocks. Currently Im down 66%. At this rate I should be able to retire at 107.

We have hit a point where these stocks are not going to rebound like they have in the past. I figure if I left these accounts alone it would take 20-25 years to get back to the level from 3 years ago. These componies have been hit so hard that they will be under vauled for so long and when they do make a come back or try, all gains will be taken by sell offs from the people that need that money for their retirement.

All sectors have been hit and hit hard

was 1yr ago now
Boeing $98 45
costco 7553
GM36 4.80
ford9 1.98
AT&T 43 26
LP (lumber) 17 2.70
National (bank) 232.50

Thats just a sample of our bad times. Now think of the people that have retired and are living off of their investments or whats left of them.

Cash under the mattress may be the only logical thing todo right now.

 

I've lost about $45,000.

My 401k is 200.5k.


If you've got less than 100,000 in the bank, you're insured. Member FDIC. Taking money out of circulation (withdrawing it from the bank) is one of the worst things you can do for the economy (and was the final nail in the coffin for the great depression). FDIC was created after the great depression since everyone took their money out of the bank to give the public an extra layer of comfort and protection.

 

At 40K a yr (living expenses) that is only 5 yrs minus SS if its still there for us.

 

^^ I just edited a bunch of crap.

BTW, i looked at your AVATAR for a while. At first I was like 'huh'


(5 seconds later)



'Oh, Nice!'

 

This is scary guys!! How long these things will go on?

 

RCR, i feel your pain! my 401k drops like $800 in 3 days! i cant remove it b/c that'd be just as pointless b/c they take a percentage of it. im better off holding out and waiting for things to turn around. it sucks horribly though.........my future is being pissed away.

 

Now is a GREAT time to buy stocks. I love depressed markets.

 

Ride it out, it comes and goes in waves, you gotta think 20, 30, 40 years from now. Well, I do the way I have mine set up. About to kick up contributions with the depressed market, great time to buy.

 

I haven*t lost a penny. I guess I am lucky but the real reason why I haven*t lost a penny is because my employer pays me nothing and I can*t afford the company health insurance plan and the company 401K. I am paid so little that I have to work 2 more additional jobs to break even at the end of the month which REALLY blows a$$. I work my A$$ off (3 jobs) and have nothing to show for it. I have no stocks, no retirement savings, or a savings account which means I currently have a HUGE FAT 0$ put towards some sort of retirement. But I also haven*t lost a cent in our current economic conditions... just really couldn*t tell you which one is better.

 

This is actually really, really good for the our 401K (as long as you do not plan on retiring in the next couple of years). The depressed markets means that our 401K can buy significantly more shares of stocks with the same amount of money. When the market does rebound, you will have reaped significant rewards.

Like X says...depressed markets are a great time to invest money.

The government will do whatever it can to avoid us going into a depression. Most likely by investing more money into the private sector. Sure you can sit there and scream about more taxes and more national debt, but our current deficit is currently running at about 40% of our Gross Domestic Product (GDP). Whereas after WWII, it was well over 100% of our GDP. This stimulated a huge amount of growth. Even if we go up to a moderate amount, say 60% and invest that into the private sector, we will feel a huge relief and job growth.