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sue12 · 10-10-2008, 10:55 AM

I sure this is not where this is suppose to go but is anyone else as worried about their 401K as I am? Are we going to loss everything?

MOTHEROF4BOYS · 10-10-2008, 02:17 PM

Hi Sue, I'm not far from you. I work in Norfolk. And I know the 401k thing is pretty scary. I'm far from rich and when I looked at mine the other day, I had lost 7100.00 in a month. My husband says not to worry, I'll get it back. He knows about these things, so I hope he is right.

gloryfet · 10-10-2008, 04:28 PM

younger people could look at this as an oppurtunity to buy stock at a good price (if you dont need to cash it out in the next five years). I have faith that it WILL go back up.
For retirement age people it IS more frightening, because they dont want to wait to retire for another five yrs. or they are already retired and need that 401k money to live with.
As far as still contributing to a 401K, there is something called dollar cost averaging - which basically is the fact that your dollars are buying a greater NUMBER of stock because the price is down. So when the price goes back up you will have a larger number of stock- that will be worth something.
I have personally bought stock this week (call me crazy)
The people I most feel for are those retired or close to retirement lets all think positive thoughts for those people most of all.
I am not an expert AT ALL, this is just my OPINION

patticakes52 · 10-11-2008, 01:03 AM

401K has lost 40% of value in 2 weeks! Still can't believe it

DH and I both retired too.

sJoyB26 · 10-12-2008, 10:08 AM

and thought it might be of interest to some of you.

All that money you've lost — where did it go?
http://news.yahoo.com/s/ap/20081011/...yUEEA6lnGs0NUE

sue12 · 10-13-2008, 09:00 PM

Quote:

Originally Posted by MOTHEROF4BOYS

Hi Sue, I'm not far from you. I work in Norfolk. And I know the 401k thing is pretty scary. I'm far from rich and when I looked at mine the other day, I had lost 7100.00 in a month. My husband says not to worry, I'll get it back. He knows about these things, so I hope he is right.

I was planning on retiring in about 10 years and I just hate to see my 401K shrink away.

Can you say what your husband does for a living?

MOTHEROF4BOYS · 10-14-2008, 09:53 AM

Quote:

Originally Posted by sue12

I was planning on retiring in about 10 years and I just hate to see my 401K shrink away.

Can you say what your husband does for a living?

Same here, had hoped to retire in about 10 years. Hubby is military and has been for 23 years. Since I posted, mine is down 13000.00 and some change. I know it jumped yesterday(the market)but my 401k didn't!!! I max out on my 401k so I can have a half way decent retirement. Personally I think the rate the economy is going, my retirement isn't going to be as rosy as I had hoped.

10-10-2008, 10:55 AM	#1
sue12 Registered User Join Date: Nov 2006 Location: VA Posts: 805	401k I sure this is not where this is suppose to go but is anyone else as worried about their 401K as I am? Are we going to loss everything?

10-10-2008, 04:28 PM	#3
gloryfet Registered User Join Date: Aug 2007 Location: Corpus Christi, TX Posts: 157	i think depends on your age younger people could look at this as an oppurtunity to buy stock at a good price (if you dont need to cash it out in the next five years). I have faith that it WILL go back up. For retirement age people it IS more frightening, because they dont want to wait to retire for another five yrs. or they are already retired and need that 401k money to live with. As far as still contributing to a 401K, there is something called dollar cost averaging - which basically is the fact that your dollars are buying a greater NUMBER of stock because the price is down. So when the price goes back up you will have a larger number of stock- that will be worth something. I have personally bought stock this week (call me crazy) The people I most feel for are those retired or close to retirement lets all think positive thoughts for those people most of all. I am not an expert AT ALL, this is just my OPINION

10-12-2008, 10:08 AM	#5
sJoyB26 Registered User Join Date: Feb 2005 Location: Texas Posts: 446	Just saw this article and thought it might be of interest to some of you. All that money you've lost — where did it go? http://news.yahoo.com/s/ap/20081011/...yUEEA6lnGs0NUE

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10-10-2008, 02:17 PM	#2
MOTHEROF4BOYS Registered User Join Date: Jul 2004 Location: CORAPEAKE,NC OUT IN THE BOONIES,NEW ENGLANDER AT HEART Posts: 202	Hi Sue, I'm not far from you. I work in Norfolk. And I know the 401k thing is pretty scary. I'm far from rich and when I looked at mine the other day, I had lost 7100.00 in a month. My husband says not to worry, I'll get it back. He knows about these things, so I hope he is right.

10-11-2008, 01:03 AM	#4
patticakes52 Registered User Join Date: Sep 2006 Posts: 1,105	401K has lost 40% of value in 2 weeks! Still can't believe it DH and I both retired too.