Sigh...guess I'll just have to work a few more years

jason

jason

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Display name:
Jason W (FlyNE)
I've been scared to look at my retirement accounts. I finally took a peek this morning....

:hairraise::hairraise::hairraise::hairraise::hairraise:

:(:(:(:(:(:(

:mad::mad::mad::mad::mad::mad:
 
FlyNE said:
I've been scared to look at my retirement accounts. I finally took a peek this morning....

:hairraise::hairraise::hairraise::hairraise::hairraise:

:(:(:(:(:(:(

:mad::mad::mad::mad::mad::mad:
Click to expand...
I have not looked at retirement as I figure I won't be needing that for a while. But regular accounts are down $23,000 this week and a little over $100,000 for the year
:mad::mad::mad::mad::mad::mad::mad::mad::mad::mad::mad::mad::mad:
 
"If I don't open the statements, have I still lost my butt?" ... :(
 
What I can't see wont hurt me, what I can't see wont hurt me, what I can't see wont hurt me................. :( :drink:
 
I don't look, because there is nothing I can do about it.

Still, when I bough the Bo, I thought seriously about financing it so I would have the remainder available to tip into the markets. Glad I paid cash.

---

Edit:

I remember when I was younger, and traded stocks on margin. Glad I ain't doin' that!
 
What really scares me is that most people have a lot more to loose now than they did in the Great Depression. This could be really, really bad.
 
I have been pretty fortunate ... through mostly blind luck, it's true. I'm only down about 6% for the last 12 months.
 
I cashed out all my currently vested stock over the past few months, near our high for the year. I can't complain, yet anyway. Whew.
 
The statement made by the Prez. this morning shows that folks do not have confidence in the government. as he talked the market went from -86 to -140 and 5 minutes after he quit talking it was -250.

No one thinks the government can fix this.

Both of my kids have 401 accounts but they have ability to control thier funds, both went to local mutual fund last year.

PHEW
 
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NC19143 said:
No one thinks the government can fix this.
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Without getting too political

No one thinks that the Bush government can fix this. Lots of economists are talking about the lose of faith in this administration to be able to make any difference and many are saying that whoever gets into the White House next will be the one to fix this mess.
 
smigaldi said:
Without getting too political

No one thinks that the Bush government can fix this. Lots of economists are talking about the lose of faith in this administration to be able to make any difference and many are saying that whoever gets into the White House next will be the one to fix this mess.
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I feel the common people are a lot smarter than the government thinks, they know the root cause is no jobs. and no one is talking how to fix that, with out borrowing a huge wad of money. and they worry about who we borrow that from.

I feel really sorry for the lack of the ability of the USA to hold a clean election.

Yeah I know this is really political, but every one I talk to feels neither party has the ability fix this.
 
I'm not concerned... I have about 30 yrs till I can retire legally, but even then I doubt that will happen. I hope to be involved in business one way or another till I croak.. My nieces and nephews will reap the rewards...
 
steingar said:
The people of the United States are SO done with George W. Bush.
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True... I worry about the people being soooooo done with government (period)

There are just as many people angry with congress as there is with the Prez.
 
Our pension plans have been affected as well - that's the beauty of the globalization...

I don't invest any money in the stock market - as far as I'm concerned, it's like a casino - only less transparent and more corrupt.

Senior financial analysts get awesome salaries to predict the future of the global economy so the banks can invest in a "clever" manner...

Most of them are consistently wrong - but they keep the juicy bonuses.

I heard that the AIG management just spent a fortune for some kind of "get-back-in-shape" luxury resort vacation...
And that happened less than a week after the government saved their behind for a modest amount of 80 BILLIONS (+/-) of tax payers, hard-earned money.

It shows their integrity and their moral values...not
 
Armageddon Aviator said:
I don't invest any money in the stock market - as far as I'm concerned, it's like a casino - only less transparent and more corrupt.
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Out of curiosity, what DO you invest in? The transparency and corruption aside, history has proven that the stock market has out performed both bonds and Money Market/Savings Accounts by a wide margin over time. Any other investments and the risks seem to go up exponentially.
 
While this definitely is hurting the majority of Americans with money in the markets, for someone like myself that will be graduating from college December 2009 and has potential to gain employment in a fairly lucrative line of work, the recent downfall is providing a golden opportunity for me. As soon as I am hired, my #1 goal will be to throw buckets of cash into markets and hopefully ride them back up.

Only time will tell...
 
NC19143 said:
True... I worry about the people being soooooo done with government (period)

There are just as many people angry with congress as there is with the Prez.
Click to expand...

Can't disagree there. The sellout really bolluxed things good. It ain't working so far, and nobody wanted it.
 
Greg Bockelman said:
Out of curiosity, what DO you invest in? The transparency and corruption aside, history has proven that the stock market has out performed both bonds and Money Market/Savings Accounts by a wide margin over time. Any other investments and the risks seem to go up exponentially.
Click to expand...

Ah, that's simple...100 LL :)
 
steingar said:
Can't disagree there. The sellout really bolluxed things good. It ain't working so far, and nobody wanted it.
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It's not that simple. There's one big takeaway from Economics: Everything is connected.

It's not obvious, but the "bailout" was necessary. And it's working. It's hard to say exactly how well it's working. You can bet, however, that you'd be out of a job before too long without it.

As for calling it a "bailout" - not the best marketing idea...
 
Ken Ibold said:
I have been pretty fortunate ... through mostly blind luck, it's true. I'm only down about 6% for the last 12 months.
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WOW! I am down 24% and the wife 23%!
 
I spoke with my broker this afternoon (to make sure he hasn't jumped :)) and he said business is good with folks buying. As for my accounts, since the high one year ago I'm down 11% in a market that's down about 28%. Going backwards isn't fun but at least I'm not running.

We had an interesting discussion about folks selling and he brought up an interesting analogy presented by his partner. When someone calls and wants to cash out he (partner) asks if they are also selling their house. When the client says no, he asks why not as it's going down in value as well. The client invariably states that the price of the house will go up again. His response is silence and the client than goes "d'oh".
 
CJones said:
While this definitely is hurting the majority of Americans with money in the markets, for someone like myself that will be graduating from college December 2009 and has potential to gain employment in a fairly lucrative line of work, the recent downfall is providing a golden opportunity for me. As soon as I am hired, my #1 goal will be to throw buckets of cash into markets and hopefully ride them back up.

Only time will tell...
Click to expand...

Chris:

This presumes you will have a job, then.

If Congress passes, and the President (whomever it may be) signs into law, the "Employee Free Choice Act" (painfully mis-named), the loss of jobs and the diminution in business activity resulting therefrom will be breathtaking.
 
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Way back in the fifties, when I was a kid, my Dad told the story, that he finished a contract with the city of Detroit for pouring a cement sidewalks.
He had the city inspector sign off the cotract and went to the city offiices to collect his check, and was told the city had no money to pay him. He owed for the sand and cement, to the tune of about $100. He thought well I'll go to the bank and get some money out of the savings account to pay the bills. (he had about 600 saved) when he got to the bank and asked for $100, he was told they would pay a dime on a dollar and he could only get $60 bucks out of his savings.

6 months later he and mom were gleaning potatoe fields for food in NB Ca. He would add that Mom was a great cook and she could put meat in any thing, but he never did figure out where the dog went.

count your blessing, not your money. It's not yours anyway.
 
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FlyNE said:
I've been scared to look at my retirement accounts. I finally took a peek this morning....

:hairraise::hairraise::hairraise::hairraise::hairraise:

:(:(:(:(:(:(

:mad::mad::mad::mad::mad::mad:
Click to expand...

At your age?

You can't avoid making a few million.

One of my coworkers was planning retirement in 3 years. :(

I just hope the recovery DOESN'T take 8 years.
 
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