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What are you doing with your 401k?

Discussion in 'Anything goes' started by Full of Shit, Jan 23, 2008.

  1. Full of Shit

    Full of Shit Member

    Haven't seen a topic addressing this specific question, and please, let's keep the politics/blame out of this. But watching my balance take some big hits, and with only about 10 years to go (hopefully) until retirement, I'm starting to wonder if I should do something to stop the bleeding or ride out the current storm?

    Thoughts (especially from those of you with background in economics)?
  2. Pancamo

    Pancamo Active Member

    Sitting in a guaranteed 3% fund since October 1st and not going anywhere.
  3. poindexter

    poindexter Well-Known Member

    I checked mine this weekend - I went 100% cash on November 9th.

    It's really a lousy strategy most times... a large part of the gains over the decades are made in single, huge days... And the other problem is when I don't know when to get back in - there's never a buzzer that goes off.

    In this particular case, it's done well. I think this market is special - I *still* don't think the bloodletting is done in the financial sector. I don't trust anything the financial big boys say, nor do I trust their balance sheets.
  4. ArnoldBabar

    ArnoldBabar Active Member

    My 401k has all the money I'll ever need when I retire. Unless I need to, you know, buy something.
  5. Pancamo

    Pancamo Active Member

    I agree. The financial guys are the same as the touts screaming, "I have a three team parlay". All full of shit.
  6. Ace

    Ace Well-Known Member

    I converted my mutuel funds to gold mining stock and buried it in the backyard.
  7. Diabeetus

    Diabeetus Active Member

    What's a 401k? :D
  8. GBNF

    GBNF Active Member

    Is it worth having a 401K in this market if you're only 23 years old?
  9. buckweaver

    buckweaver Active Member

    Always. The sooner, the better.
  10. Captain_Kirk

    Captain_Kirk Well-Known Member

    At this point, think you need to ride it out. Otherwise, you're basically signing up to lock in a 15% hit, which is about what the Dow is down from its high.

    At some point down the road, it's going to get that 15% back, and if you've stepped aside, you're going to miss out on that rebound.

    Now, once you get to about 5 years from retirement, I would definitely start to ramp up the cash and bonds percentages in your account.
  11. poindexter

    poindexter Well-Known Member

    Slaps head.

    Does your employer match funds? If they match 25 cents on the dollar, that's a 25% return. Most match 50 cents to the dollar.

    Is this really rocket science?
  12. Ace

    Ace Well-Known Member

    Yeah, but it's gonna cut into his drinking money.
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