I think we're sniffing the bottom. Today promises to see some buying. Perhaps if the freakin' media would cool its jets for the turkey season, then we wouldn't have the 24/7 fear-mongers pouring salt on our collective wounds! You know what they say about perception and self-fulfilling prophecies!!
It is those of us (and I'm one of them) who are getting "of age" who are at risk the most. Those on this forum who are in their 20's and 30's have the luxury of time on their side - they can weather the cyclic nature of the markets. I've come full circle twice now and no not have time on my side! So for me at least, this one is more on my personal radar than past market upchucks.
My 401K is in mutual fund as is my IRA (Vanguard). I personally don't have the time nor expert knowledge to play day trader on individual stocks.
Good luck to us all! Time to be strong as a nation.
...my girlfriend works for Prudential Financial and she tells me not to worry same as you guys but you know?
Trust me bro, anyone who isn't at least disturbed or worried right now either has ice water in their veins or no investments to worry about. You are not alone.
But we can't let being worried, scared or even pissed off force us into making poor decisions that have long term impacts for our families.
You should have gotten some positive movement today................
We are on an exhaustion run since Oct 10th. Zig zaging sideways. We tested (or came pretty close )the 2002 and 1997 lows today. The boys that understand this stuff claim we should not be at the bottom for too much longer. Its time to buy!
The boys that understand this stuff claim we should not be at the bottom for too much longer. Its time to buy!
For ME, and I'm ready-willing-able, THAT moment will arrive about 30 seconds AFTER the Detroit Three are extended assistance...
Until then...you've seen what happened Wednesday-Thursday, just because of "delay"... What might happen if the answer is "Pound salt!"???!!!
__________________ PowerPro01 sez "STAY TUNED"................ GarettO's the SigGod! "NOTHING Matters...until you CARE..." Bob Gibson If RACING was EASY, they'd call it WINNING ! Anonymous
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Re: Let's talk 401K
Quote:
Originally Posted by jub jub
Another big hit today! Ten years of profit down the tubes. How much farther can the market fall before we hit the bottom.
Looking at my fund's prospectus, it shows fund performance over 10 year average, 0.40%!
I need a beer.
Jub, are you sure about that performance number for Fidelity Contrafund?
I checked Fid's web site under Contra fund performance (FCNTX) and it shows 5.29% average return for the ten years ending 10-31-08. The S&P 500 Index return for the same period was 0.40%. Did you get them confused?
Jub, are you sure about that performance number for Fidelity Contrafund?
I checked Fid's web site under Contra fund performance (FCNTX) and it shows 5.29% average return for the ten years ending 10-31-08. The S&P 500 Index return for the same period was 0.40%. Did you get them confused?
Zipster
Ah yes, I was looking at the S&P. *** slaps self upside the head******
I'm one of the few without any money in the stock market. For 11 years I've been self employed so the market really doesn't bother me. And I don't drink beer. Boy do I have serious problems.
Very good advise here :mug:..Just one more thing..people who are close to retirement need to be careful....what I am trying to say is once you have 5 years left and you have money in the market,you should start moving some of it into safer investments,so you would not lose most of your nest egg..If you have not done this already and your 401K has lost a lot of money (obviously),your other option is to wait....definitely DO NOT SELL NOW
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FEAR THE MIATA
Buy, you will be happy 3-5 years from now when the nervous nellies are still in cash/CD's and inflation is giving them a negative real return. They will come back off the sidelines and jump back in the market just in time to get whipsawed again
Listen to Warren Buffet
"Be fearful when others are greedy, and be greedy when others are fearful"
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