No, I'm not a fund manager.

I'm just saying that compared to where I was 5 years ago, I'm still up, even though I'm down in the short term. I expect it's going to get much, much worse, too. But it will rebound eventually. It has to. It's a marathon, baby :) I'm just looking at this in the big, big picture, because the short term is very ugly. Gotta be optimistic, you know?

In other crazy news, overseas markets are crashing HARD. Russia is down 14%, the Nikkei is down 9.38%, SK market is down . . . British markets open now. They're bailing out their banks to the tune of $87B with a $350B line of credit.

Yeah, I'm watching now.

My Fund Manager is bumming HARD. Not for his clients like me or his multi-millionaire clients but for those that are actually living off of their 401k's. Those folks are in BAD shape.

I was out to dinner with several "well-connected" peeps (many of whom I gave info out in the DC that came true - WaMu, Wachovia, Lehman going down) that said the market WILL go down to 8,000.00.

It's gonna be a rough ride...

Yeah, luckily, I'm not going to be in need of a 401k for a very long time, if armageddon doesn't come before I'm of retirement age ROFL

I am certainly thankful that I have that luxury where many do not.

I don't doubt the 8,000 at all. I've been trying to tell my father that it's going down to 8,000 at least. I'm not convinced it will go much lower.

I moved a ton of money into tax-free money market accounts and actually made money this past month. It's a very, very conservative move but maybe something your father should consider.

He's pretty evasive sometimes, but I think that's where he's got a lot of his money. He did say that he's got enough in cash to pay all the bills for 3 years, but that his 401k is crap and he'll probably have to keep working even if he gets a retirement offer/force out this year.

Man, that sucks.

I'm just about positive he's worked enough.

Good luck to you and your family.

Thanks, man. I mean that.

I really was hoping he'd just be able to retire. He works such long hours that he doesn't have time to take care of himself. Ever since I had to start taking night classes, I haven't been able to get him to the gym with me. Looks like that won't be happening any time soon.

Ah well.

Mine has a RoR of -25.36% for the year 2008. :(

I am 27 and my 401 K from a couple years was going down too fast. I took it out to get a big screen

-27% and falling as we speak

I've moved mine from stocks to a fund that doesn't lose money, but doesn't gain much either. It's kept me from losing too much so far.
Down something like 8 percent on the year, waited too long to move to cash.

I'm afraid to look.
Might as well have just wiped my ass with $30,000.

Not my 401K but got my statement yesterday on my son's 529 plan for college. Ouchhhhh. I have lost over 10% since the first of the year. At this rate he will have to transfer from KU to JCCC to finish his last 3 years.

As a starting 401k contributor this year, I don't have much faith in it lately. I've taken a loss on everything I've put in, hell it's like being taxed on this. I'd have a better chance putting it in savings.