Canuck
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I live in Japan
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« on: September 30, 2008, 07:46:48 AM » |
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Thank goodness I'm only 29 (today). I've still got some time for my investments to grow back. I feel sorry for all of you old fogies out there. The shit has clearly hit the fan.
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Zinfan
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« Reply #1 on: September 30, 2008, 08:22:37 AM » |
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Thank goodness I'm only 29 (today). I've still got some time for my investments to grow back. I feel sorry for all of you old fogies out there. The shit has clearly hit the fan.
Eh it may come back faster than you think (at least I hope so) and I would expect a quick rise in the market if/when a plan is agreed upon. But what do I know? Nothing! |
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Ironrod
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« Reply #2 on: September 30, 2008, 04:21:56 PM » |
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My strategy of not having any investments is working out just as I planned.
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Brendan
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two oh sickness
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« Reply #3 on: September 30, 2008, 04:22:32 PM » |
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My strategy of not having any investments is working out just as I planned.
Your +0.0% for the year is beating my mutual funds, to be sure. |
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YellowKing
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« Reply #4 on: September 30, 2008, 06:32:31 PM » |
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I came through it (so far) relatively unscathed. I went more conservative than my financial advisor suggested for my age. So yeah, maybe I didn't make quite the return I could have the past few years, but it saved my ass this week! This morning I was sitting at essentially dead even with last year. Considering the circumstances, I'll take the 0% change.
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Scraper
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« Reply #5 on: September 30, 2008, 07:04:21 PM » |
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Prior to yesterday my 401(k) had already lost 20% of its value this year (despite adding money to it) I can't imagine what happened to it yesterday. I'm afraid to look.
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" And they are a strong and frightening force, impervious to, and immunized against, the feeble lance of mere reason." Isaac Asimov |
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Ironrod
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« Reply #6 on: September 30, 2008, 08:23:42 PM » |
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My strategy of not having any investments is working out just as I planned.
Your +0.0% for the year is beating my mutual funds, to be sure. Actually, my small Roth IRA is averaging around +3.5% in CDs and annuities. I'm very risk-averse. My slightly larger rollover IRA, and my wife's even-larger 401k, have undoubtedly evaporated. I'm afraid to look. But I never really expected to see any of that money anyway. |
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Laner
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Badassfully
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« Reply #7 on: September 30, 2008, 08:31:29 PM » |
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If I cared what my funds did in the short term, I'd be worried. But I don't, so I'm not.
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leo8877
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« Reply #8 on: September 30, 2008, 08:41:33 PM » |
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If I cared what my funds did in the short term, I'd be worried. But I don't, so I'm not.
+1 I'll check in 28 years when I can actually withdraw them. |
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PaulBot
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« Reply #9 on: October 01, 2008, 09:25:18 PM » |
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One of my co-workers said that we should take out loans from our 401K's so that there's less money in them to lose.
An interesting idea...
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Isgrimnur
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« Reply #10 on: October 02, 2008, 04:59:52 PM » |
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One of my co-workers said that we should take out loans from our 401K's so that there's less money in them to lose.
An interesting idea...
Assuming you're not in a Roth IRA, expect to lose 30% of the value when you remove it (+/- based on your tax rate). You'll pay full income tax + 10% early withdrawl. |
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Hadron Smasher on 360; IsgrimnurTTU on PS3
I'd rather be watching hockey.
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PaulBot
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« Reply #11 on: October 02, 2008, 09:02:55 PM » |
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One of my co-workers said that we should take out loans from our 401K's so that there's less money in them to lose.
An interesting idea...
Assuming you're not in a Roth IRA, expect to lose 30% of the value when you remove it (+/- based on your tax rate). You'll pay full income tax + 10% early withdrawl. No: not withdrawl, a *loan* |
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corruptrelic
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« Reply #12 on: October 02, 2008, 10:02:43 PM » |
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ONLY 29???!! Damn that's over a third of your life gone by already, old man!
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"A gladiator does not fear death. He embraces it. Caresses it. Fucks it. Every time he enters the arena, he slides his cock into the mouth of the beast."
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PaulBot
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« Reply #13 on: October 02, 2008, 10:06:27 PM » |
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ONLY 29???!! Damn that's over a third of your life gone by already, old man!
It's all downhill after 29. |
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corruptrelic
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« Reply #14 on: October 02, 2008, 10:13:17 PM » |
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Or death, if you've ever watched Logan's Run. Got to keep society young and get rid of the old folks.
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"A gladiator does not fear death. He embraces it. Caresses it. Fucks it. Every time he enters the arena, he slides his cock into the mouth of the beast."
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Isgrimnur
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« Reply #15 on: October 04, 2008, 07:09:26 PM » |
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One of my co-workers said that we should take out loans from our 401K's so that there's less money in them to lose.
An interesting idea...
Assuming you're not in a Roth IRA, expect to lose 30% of the value when you remove it (+/- based on your tax rate). You'll pay full income tax + 10% early withdrawl. No: not withdrawl, a *loan*  Not one of my brighter moments. |
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Hadron Smasher on 360; IsgrimnurTTU on PS3
I'd rather be watching hockey.
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PaulBot
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« Reply #16 on: October 07, 2008, 03:29:04 AM » |
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One of my co-workers said that we should take out loans from our 401K's so that there's less money in them to lose.
An interesting idea...
Assuming you're not in a Roth IRA, expect to lose 30% of the value when you remove it (+/- based on your tax rate). You'll pay full income tax + 10% early withdrawl. No: not withdrawl, a *loan* Not one of my brighter moments. I'll overlook it this time. |
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Scuzz
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« Reply #17 on: October 16, 2008, 11:23:07 PM » |
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and your going to remove this money (loan) and do what with it. Remember it still has to be repaid at some point.....
just slide it into a money market that makes 1.5% but won't loose value for awhile until things come back.....
It's borrowing money that got this place screwed up to begin with...
Although if you were borrowing to buy a house and could get a loan now is probably a great time to buy....
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Turtle
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« Reply #18 on: October 17, 2008, 11:46:13 AM » |
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Erm. Wasn't one of the reasons this latest crash started was the collapse of a part of the money market mutual fund dealing with commercial paper?
Scary to think that MMMFs, such a safe and normal thing suddenly does bad.
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