So how does your 401k statement look?

roccman

This guys wife's statement...got slaughtered....

Just a "correction" I am sure...
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We are going back to roccland - me

seldom_seen · Light Sweet Crude Joined: Apr 12, 2005 Posts: 1984

Those losses don't account for inflation either, so you can just about double them in many instances.

The American people are being robbed blind right now, and they're none the wiser. You have to credit the fed and treasury for this grand deceit as they laugh all the way to the bank (that they own).

joeltrout · Light Sweet Crude Joined: Sep 19, 2007 Posts: 1317

I didn't qualify for my company's 401k till Jan 2007. So I didn't have the big run-up that many people did because of the bull markets prior to this correction. Yes correction.

Therefore I haven't lost much and thankfully I pulled much of my 401k out of stocks and put into the money market before last October. Don't know why... I just felt like the economy was getting scary. Lucky guess.

My allocation now is:
65% in S&P 500 fund
25% in International fund
10% in money market fund drawing 5.25% until Jan 2009

I know most will disagree... but I think this is a great time to be putting money in the market.

joeltrout

joeltrout · Light Sweet Crude Joined: Sep 19, 2007 Posts: 1317

Heineken

Tyler_JC

You know the old adage, "buy when there's blood in the streets".

The markets will eventually recover from the current downturn so assuming your horizon is long term enough, now could be a good time to buy.

Personally, I'm waiting till later this year (August/September) for the bottom but I think it's within reach.

I have a bond coming up in August and there's no way I'll be able to find an interest rate anywhere close to what that bond was paying.

I'm considering plowing that money into a mutual fund. I'm young and I can afford to look at the long term.

But if you're reaching retirement age, it makes sense to keep your investments more conservative in this time of uncertainty.
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SchroedingersCat · Intermediate Crude Joined: May 26, 2005 Posts: 527

Mine is up about 37% over the last 3 years. Year to date this year is about 3%. I'm still happy because it's outperforming the stockmarket by about 15%.

Of course, my PMs have a much better return.
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Civilization is a personal choice.

sicophiliac

I am down a little over 4% this year, however its the money my employer contributed and none of it was mine. I am seriously considering cashing it out (around 3 grand) paying my penalties and buying some gold. Or hell maybe an HDTV or put the money into my car lol. Why not enjoy it while i still can right? Aside from my 401k I have some stocks of my own, my oil service sector stocks are both up 10-15% since I bought them last summer so I guess I'm not doing to bad (aside from dollar devaluation) My biodiesel stock has gotten hammered and is down hard though, but its a speculative buy that I am in for the long haul on, given diesel is over 4 bucks a gallon things look good for them.

gollum

about the same as a year ago, no losses when averaged over 12 monthes. However I am in overseas funds so the decline of the dollar probably helped me.

Heineken

The stock market has so far largely escaped the impact of the economic downturn. Just how long this can continue is a matter of conjecture.

Since we are in the early transition stage from a long era of economic growth to a long era of economic contraction, stocks are not where you want to be. It's really that simple.

There may be a few individual winners along the way, but you'll have to be very lucky to be in one of them at the right time. As for mutual funds, they'll get creamed.

Notions like "stocks always rise over the long term" and "home values always rise over the long term" are deeply imbedded in our psyches, especially among those of us who have come of age during the long economic boom. So, many of us will have to learn that it ain't necessarily so, the hard way.
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---Abused, abandoned hunting dog

"Things have entered a stage where the only change that is possible is for things to get worse."
---Me and my brother

vision-master

Stockbroker's creed: A man is a client until proven broke. Cool

frankthetank

Don't have one cent in the market. Have thought about moving money out of a couple of money market accounts, for fear they close up shop.

If what has happened even since Jan 1 08 is any indication, then can you imagine what its going to look like Jan 1 12 or Jan 1 2020? I just don't see a anything positive to look forward too. As long as the population continues to grow and the rich keep getting richer, we are Fark.

Good investment would have been buying a couple thousand gallons of unleaded at $2 in Feb 07... or buying diesel. 50% return!
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"Oil is going up because we use too much oil, and the capacity to replace reserves is dwindling"
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vision-master

jlw61

vision-master