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Author: Subject: Anyone else watching there retirement tank

Maximum Peach





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  posted on 1/23/2008 at 10:32 AM
They keep saying we are headed for a recession. Heck, we are in it now. And the president and all his pals came out of some pipe dream and feel the need for urgency. By the time they get a game plan we will be in a depression.

 

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Zen Peach



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  posted on 1/23/2008 at 10:47 AM
I'm trying not to watch our four different 529s, our two 401Ks, our two traditional IRAs and our two Roth IRAs evaporate.

I need some of that money in 3 years (for college expenses) and some not for about 15 years....

Even if the Pres and Congress move out fast with some sort of economy kick in the pants, it won't be noticed for a quarter or two - end of the summer or later....assuming it works at all.

 
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  posted on 1/23/2008 at 11:13 AM
I'm still 10-12 years away from even thinking about retirement. I'm lucky because one son already graduated college and has a job, second son will graduate next Dec. I have a pretty small mortgage and no real debt to speak of. I figure I'll just ride this one out like the one in 87 and 2001 and hopefully things will rebound in a similar fashion.

 

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Peach Master



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  posted on 1/23/2008 at 11:24 AM
WHAT RETIREMENT
 

True Peach



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  posted on 1/23/2008 at 12:08 PM
quote:
WHAT RETIREMENT




I hear ya.

 

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Zen Peach



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  posted on 1/23/2008 at 12:39 PM
I waited to long to pull a 401k and get in another direction, so all I'm watching now is it getting smaller.
I'm keeping an eye on ETrade also, thats where the bulk of my money is.

 

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Zen Peach



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  posted on 1/23/2008 at 12:43 PM
I'm not looking.

I refuse to look.

I consider myself lucky that I even have a 401k, so if it tanks for awhile, so be it....but I'm sure not gonna look!

 

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Universal Peach



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  posted on 1/23/2008 at 12:49 PM
If you've got a few years before retiring and are making annual contributions anyway, now is a damn good time to buy otherwise well performing stocks. Look at it as a 15% off sale at Wall Street...
 

True Peach



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  posted on 1/23/2008 at 12:52 PM
quote:
If you've got a few years before retiring and are making annual contributions anyway, now is a damn good time to buy otherwise well performing stocks. Look at it as a 15% off sale at Wall Street...


I can't afford WalMart, never mind Wall St.

 

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Maximum Peach



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  posted on 1/23/2008 at 12:59 PM
quote:
I'm not looking.

I refuse to look.

I consider myself lucky that I even have a 401k, so if it tanks for awhile, so be it....but I'm sure not gonna look!


Which is exactly what a financial advisor would tell you to do...it's the people that panic and sell during these times that are hurt...remember, buy low, sell high.

And for those that say, well I need that retirement money next year...well, sorry but sounds like financial planning went awry a bit.

Go see a professional if you have any nest egg at all. It's worth it when you find a decent one ... and they are out there.

 

Universal Peach



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  posted on 1/23/2008 at 03:02 PM
The key is diversification, even if you're years from retiring. Simply put it helps soften the blow of market downturns. And when the market loses 15-20% in a week, it's an ideal time to buy. Just buy the right stocks, funds, etc......As mentioned earlier, a good financial adviser would say the same thing.
 

Zen Peach



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  posted on 1/23/2008 at 03:08 PM
quote:
I waited to long to pull a 401k and get in another direction, so all I'm watching now is it getting smaller.
I'm keeping an eye on ETrade also, thats where the bulk of my money is.


But having said thatI've seen one of my 401k's gain a lot over the last 9 months or so, its a cycle and you just have to hang on and not look.

 

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Zen Peach



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  posted on 1/23/2008 at 03:24 PM
The DOW is up over 200 points as of right now. Unless you made your own bad decisions on a house loan, doom and gloom will get us nowhere.

But, look at the proposed stimulus packages being considered by Congress, D-NY Chuck Schumer and the rest - not one includes a tax increase.

 

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Zen Peach



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  posted on 1/23/2008 at 03:29 PM
I'm not watching. I'm 10-12 years away from retirement too(I hope). I'm not doing anything until it bottoms then I'll put more money in my IRAs. The 401k that I had tanked in 2001 and the funds that I was in dropped to the price per share they were when I got in it years before. Since 2001 the price per share almost doubled in value. I'm sure it'll happen again

I'd only be worried if my retirement was a couple years away or if I was retired now.

 

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Zen Peach



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  posted on 1/23/2008 at 03:34 PM
I cashed out the 401K I had with my previous employer (like a dumb ass) to pay down some debt, and turned right around and ran it back up. I'm on my second 401K now. I'll be 47 soon, and after receiving my most recent Social Security statement, I have come to the conclusion I'll have to work 'til I'm 70....if I even live that long.

 

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Universal Peach



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  posted on 1/23/2008 at 03:41 PM
I'll probably be doing the same, BigDave. However, once I hit fifty five, I'm retiring and opening my own business. I'm thinking a recession proof one, a low to high class escort service that also sells booze, cigarettes, and food. Now that's financial planning if ever I heard it.
 

Zen Peach



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  posted on 1/23/2008 at 03:47 PM
I keep my eyes on things to monitor how everythings doing but am not in a panic mode. I'm planning on retirement in 6 years and I've rebalanced my 401K accordingly over the years. My house should be paid off in 3 years and I'm hoping to have home improvement loan out of the way in same time frame so I should be ok there. I'm not seeing the growth that was occurring but I'm choosing to believe what the experts say - that things will bounce back in a few years just like they did after the 2001 shock wave.

 

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Zen Peach



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  posted on 1/23/2008 at 04:01 PM
quote:
The DOW is up over 200 points as of right now. Unless you made your own bad decisions on a house loan, doom and gloom will get us nowhere.

But, look at the proposed stimulus packages being considered by Congress, D-NY Chuck Schumer and the rest - not one includes a tax increase.


I'm the last person to be doom and gloom on this economy. My hope is that the stimulus can be pushed through with minimum little "attachments".
I also have the sense that historically the market is unsteady leading up to a major election.

 

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Universal Peach



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  posted on 1/23/2008 at 04:29 PM
quote:
quote:
I'm not looking.

I refuse to look.

I consider myself lucky that I even have a 401k, so if it tanks for awhile, so be it....but I'm sure not gonna look!


Which is exactly what a financial advisor would tell you to do...it's the people that panic and sell during these times that are hurt...remember, buy low, sell high.

And for those that say, well I need that retirement money next year...well, sorry but sounds like financial planning went awry a bit.

Go see a professional if you have any nest egg at all. It's worth it when you find a decent one ... and they are out there.



 
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World Class Peach



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  posted on 1/23/2008 at 06:29 PM
No money to retire, but i do have a few jars of Grey Poupon.

 

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Zen Peach



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  posted on 1/23/2008 at 06:34 PM
quote:
No money to retire, but i do have a few jars of Grey Poupon.
I stayed at a Holiday Inn!

 

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Peach Pro



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  posted on 1/23/2008 at 06:46 PM
i just checked the moonshine jar down by the crick...my retirement stash is still safe

 

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Maximum Peach



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  posted on 1/23/2008 at 07:14 PM
Like Chain said, diversification is important! Alot has to do with comfort level, but any portfolio should have a mixture of US and nonUS equity (stocks or mutal funds) and bonds. If taken a step further the portfolio could include real estate investments available in mutal funds or real estate investment trusts and commodities like metals, energy, agriculture. If possible, I always liked having some small amount in good old fashioned bank CD investments too when the rates are favorable.

Exclusively being in any one of those categories is either extremely risky or not very productive. And the combination and allocation depends on ones age and length of time to retirement. But the more diverse the portfolio, the less volatile it will be with a higher return. I just read a good article by Roger Gibson on this, I recommend reading something by him if interested in seeing how the different asset allocations compliment one another.

There are plenty of people out there who will give their pessimistic or optomistic view of the economy and the markets. And where somebody sees things will influence investment style too. I'm reading a rather pessimistic book right now called "How to Profit from the Coming Economic Collapse". I haven't really gotten to the "how to" part yet, but atleast understanding the worst case scenario allows for better informed choices whether we share that view or not.

History has shown the market is the best place to get long term growth. As long as the bottom doesn't fall out of our government or they don't screw things up too bad, which is becoming an increasing possibility these days, things will continue to go up and down, but eventually will end up higher in value with patience, time and some good judgement.

 

Maximum Peach



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  posted on 1/23/2008 at 07:44 PM
quote:
They keep saying we are headed for a recession. Heck, we are in it now.


In some senses, a recession isn't all bad - and sometimes necessary for a long term economic health. If American people in general curtail their spending and consumption they'll be able to start saving again and relying less on sources of debt. That isn't directed towards the people who do live within their means, but instead those who choose to purchase and spend beyond their means. And I really have to question continued rate cuts which result in a further devalued US dollar. $800 or $1600 per person, the total cost added to the national debt, is that going to solve our economic problems?

Government can hopefully get our country back on the path to true economic prosperity, but it is going to take a drastic change in trade and fiscal policy.

 

True Peach



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  posted on 1/23/2008 at 08:45 PM
What a ride the Dow had today, 300 pts down and 300 up at the close. My IRA is woefully underfunded, but I'm working at it. My sort of contrarian philosophy is that things are never as bad or as good as the pundits say. As others have said, downturns are a good buy opportunity for those not already at retirement age. When stocks are up, and you don't sell, it's a non-event and the statements are best just ignored.

I've been pessimistic about the market since last summer, keeping about 20% cash on hand to possibly pounce on bargains as they appear. Another 20% or so went into some short-selling mutual funds, which have easily offset losses on the long positions that have declined. Shorting is dangerous and should be avoided generally but my broker shamed me into some when I resisted his offers of regular stocks. The short funds, unlike traditional shorts, do not have unlimited downside risk, so I gave some a whirl. A good broker can be worth the commissions; I don't have the time to study companies like mine can. Nebish is right, some non-US equities are a good move; I have about 20% in a foreign mutual fund.

Anyway, I mention all this not to encourage market timing or shorting, the best stategy is what my grandfather told me, "buy it and forget about it". But yesterday, soon after the market opened down 400+ pts, I called my broker and told him, "I'm ready to throw the long ball." Dumped some shorts and bought some stocks. So far, so good. It's not as bad as say the pundits.

 

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