Holy fuckballs economy?!
Okay, last quarter of '08 I lost 8 grand out of my 401. I just got my first quarter report. It's gone down another $14,000. Holy shitbuckets!!! Seriously?!?!
That's $22,000 doll hairs I don't get to have garnering interest for me. Jebus H. Christmas on a stick! Fucking fix this economy already.
:(
I stopped opening those last fall.
This kind of news makes me not feel as bad about not currently having retirement savings.
It is really hard to look at since I followed all the advice. Still, I am not retiring for some time.
True. People in our age bracket can "afford" for something like this to happen. At least more than older folks can.
I tend to rely on the pros, too. But still, if the money were there, the end result after years would be exponentially larger. Simply put, 30 years from now, I'm loosing a lot more than $22,000.
I looked at my parents investments. It was just sad. I was very glad my dad has a pension.
Seriously consider cashing everything out and putting it in guaranteed investments. Even a 1-3% money market savings account is better than losing another 10-20% this year. And no, the economy's NOT going to suddenly rebound and GAIN 20% without you noticing, so don't worry about missing out on the eventual upswing. You'll have time to get your money back into the market.
Or put it in a mattress. That'd be one expensive sex cushion. =-O ;-P
Final tip: go back in time and do this last summer. ;-P
That's true, in fact, one of my portfolios is a clump-money market account. I should probably look into moving a bigger percentage into that fund. 10% of my retirement disappearing is not fun to think about. :( I don't want to buy a smaller yacht.
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