Posted on 10/09/2008 1:00:23 PM PDT by prolifefirst
Can't take it anymore.
After that, it depends on who wins.........
Liquidated all 401K funds and stocks 4 days ago... glad I did.
Me too. Too bad we don’t have proof.
It’s crossed my mind, yes.
DING DING DING.
We have the WINNER!
Never sell “low”, I did in 1987, and 2001. Regretted those decisions.
I have no doubt in my mind that really, the fundamentals of this economy are good. This environment that we’re experiencing is the “crashing of the greedy” on wall street, and their ‘emotional betting’ in the Wall Street Casino is driving down the values without any fundamental basis.
I’m leaving things as they are.
I’ve taken a hit like I didn’t expect.
But bailing out now? That’s not long term, and it’s not a good idea. As someone else said, “We all do it, it’s all over”.
A few people doing it, taking the hit now, and holding onto what they have left of their money is one thing and more power to them. Some people will need it in two years. I won’t need it for another 9 or so.
If it’s gone in 9... I guess I’m going to be pretty pissed then.
Right now, like many others, we ride the wave. We’re in the trough right now. Tomorrow, next year comes the crest.
We’ll see.
People need to not panic. Too many large organizations are panicking and that’s what is causing the losses on the market even right now.
please consider buying precious metals with it.
Lurking’
I'm very happy that that still was the case.
Very happy it only took 20 minutes to get through on the phone istead of the usual 1 minute.
I wish you had whispered advice in my ear back then. We’re way down but I’m counting on it going lower since we just transferred them today.
Capitulation!
I saw a video where Jim Cramer was telling everybody to get out of the stock market and wondered if he is helping fuel the fire, like urging a "run" on the stock market. Maybe he sees something we don't. I used to listen to him every day.
The market just closed, down another 600 points, about 8600. But it fell below 9000 August 6, 2003, and the world didn't come to an end then although we didn't have all these other exacerbations to deal with at the same time. Wonder where it will bottom out? I've never owned stocks, but it's going to affect all of us one way or another.
Maybe you made the right move, I don't know how that would reported as a gain or loss; from the way you're talking it was a net gain so I guess you'll have to pay now.
I keep remembering all those talking heads who told me I was an idiot for keeping my money in the bank.
Can’t afford to sell...my only concern is I have funds with AIG/Valic and if they keep partying, the least they could do is invite me so I can get some return on my former inverstment. Thank goodness we’re in it for the long haul.
It wasn't a move made on some sound advice. It was due to my wife and I losing sleep. The good news is that this taxable money was only invested back in July, so our loss was less than 4% at the time we switched our.
I adjusted our 401(k)s back in April, taking a 70/30 (stock/bond) combined portfolio to 100% bonds (Dow was hovering at 13000). I can't imagine how much we saved on our 401(k) investments, even with the hit the bond funds are taking these days.
I’m not going to bother looking at my 401k. I figure I rode it down this far (-15% for the year at last look 2 weeks ago) that there’s no point pulling out now. I’m still contributing and buying in, so hopefully it pays off in the LONG run.
One word my FRiend...Offshore.
My Dad was working on this last November before his early death. I just followed thru with his plans.
Best comment of the thread!
Alice, we’ve been doing the silver/gold thing as well, on the side, over time. We don’t have much yet, but, it never will be worth less than what we put into it. We also have the basic set-aside investments and so far have only lost 3k. We stopped the bleeding but, we are watching because, we hope to snap up some good stocks once the election is over (maybe). If not, we haven’t had our clocks cleaned.
We see how heavily we are indoctrinated to invest and invest and invest. Well, guess who gets all that money,,,not the investor. The best we can hope for is to make a profit of some sort but then we have to share it if it’s in stocks/financials. We are learning to save more, buy more precious stuff and lower our profile in credit and stocks. It’s actually harder than it sounds because our culture is so entrenched in the notion that the financial “experts” are the ones to trust with our money. That is not always true and some are learning that very painful lesson the hard way.
The money's not in the Building in Loan, it's in Bill's house, and Mr. Gower's house.
I don't care, I just want to close my account.
Alright, alright, here's your money, but your account stays open.
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