Money How is your 401k going? - Page 5

chief52 · 07-12-2008, 10:06 AM

From 7/12/2006 through 12/31/2007 my 401k was up 23.3%. From 1/1/2008 until 7/11/2008 it is down 12.8%.

Overall from 7/12/2006 until 7/11/2008 my 401k is up 7.5%.

How is your's doing...honestly.

Silock · 10-08-2008, 01:05 AM

Quote:

Originally Posted by DaneMcCloud

Hey, don't get me wrong. I applaud ANYONE that's up right now.

It's just hard for me to believe.

But, if you're a Fund Manager, I'd have to say, your clients are VERY lucky.

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.

**DaneMcCloud** · 10-08-2008, 01:11 AM

Quote:

Originally Posted by Silock

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...

Silock · 10-08-2008, 01:14 AM

Quote:

Originally Posted by DaneMcCloud

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

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.

**DaneMcCloud** · 10-08-2008, 01:24 AM

Quote:

Originally Posted by Silock

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

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.

Silock · 10-08-2008, 01:27 AM

Quote:

Originally Posted by DaneMcCloud

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.

**DaneMcCloud** · 10-08-2008, 01:29 AM

Quote:

Originally Posted by Silock

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.

Silock · 10-08-2008, 01:32 AM

Quote:

Originally Posted by DaneMcCloud

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.

**penguinz** · 10-08-2008, 06:03 AM

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

Demonpenz · 10-08-2008, 07:58 AM

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

King_Chief_Fan · 10-08-2008, 08:16 AM

-27% and falling as we speak

wutamess · 10-08-2008, 08:53 AM

401k: -40.9%
Roth IRA: -41.58%

Nothing to do but ride it out.
I can't take it (penalty free) for another 33 years anyways.

Thinking about going into the stock market to get in on this fire sell for the future too. Will wait a month or so.

Everything is hitting 52 week lows. Should be great buying times.

cookster50 · 10-08-2008, 08:56 AM

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.

**gblowfish** · 10-08-2008, 08:59 AM

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

Elwaysux · 10-08-2008, 09:07 AM

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.

**chasedude** · 10-08-2008, 09:15 AM

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.

07-12-2008, 10:06 AM
chief52 Veteran Join Date: Apr 2001 Location: NoCal Casino cash: $9805260	How is your 401k going? From 7/12/2006 through 12/31/2007 my 401k was up 23.3%. From 1/1/2008 until 7/11/2008 it is down 12.8%. Overall from 7/12/2006 until 7/11/2008 my 401k is up 7.5%. How is your's doing...honestly.
Posts: 3,124

10-08-2008, 06:03 AM	#68
penguinz Supporter Join Date: Mar 2003 Casino cash: $807626	Mine has a RoR of -25.36% for the year 2008. __________________
Posts: 17,238

10-08-2008, 07:58 AM	#69
Demonpenz Woman should only make babies Join Date: Nov 2003 Location: Apartment "G UNIT!" Casino cash: $-203864	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 __________________
Posts: 54,937

10-08-2008, 08:16 AM	#70
King_Chief_Fan Praise Him Join Date: Aug 2000 Location: none ya Casino cash: $4755486	-27% and falling as we speak __________________ No Jesus No Peace Know Jesus Know Peace Ephesians 2:8-10 English Standard Version (ESV) 8 For by grace you have been saved through faith. And this is not your own doing; it is the gift of God, 9 not a result of works, so that no one may boast. 10 For we are his workmanship, created in Christ Jesus for good works, which God prepared beforehand, that we should walk in them.
Posts: 12,362

10-08-2008, 08:53 AM	#71
wutamess MVP Join Date: Aug 2000 Location: Lee's Summit Casino cash: $4711637	401k: -40.9% Roth IRA: -41.58% Nothing to do but ride it out. I can't take it (penalty free) for another 33 years anyways. Thinking about going into the stock market to get in on this fire sell for the future too. Will wait a month or so. Everything is hitting 52 week lows. Should be great buying times.
Posts: 8,290

10-08-2008, 08:56 AM	#72
cookster50 Supreme Commander of My House Join Date: Apr 2004 Casino cash: $83622	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.
Posts: 3,445

10-08-2008, 08:59 AM	#73
gblowfish Be Kind To Your Pets Join Date: Jun 2002 Location: Glorious Independence, MO Casino cash: $16896178 VARSITY	I'm afraid to look. Might as well have just wiped my ass with $30,000.
Posts: 41,011

10-08-2008, 09:07 AM	#74
Elwaysux All Donkeys Do! Join Date: Nov 2002 Location: Riyadh Casino cash: $9945617	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. __________________ Hating the Donkeys since 1978
Posts: 226

10-08-2008, 09:15 AM	#75
chasedude Supporter Join Date: Sep 2005 Location: St. Joe Casino cash: $9994900	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.
Posts: 36,287