My 401K, I've been afraid to look, is this gonna get worse?

I know I'm on a 'very aggressive' portfolio right now because of my age and have been doing great for the tiny amount that I have, but this it NUTS!

[Quote]Personal Rate of Return from 01/01/2008 to 10/09/2008 is -38.4%

Do not look ....... I repeat .... Do not look....

Your in for the long haul. Keep contributing. The market will rise. Never bail out in the bottom. It's a sure way to lose. You never lose it as long as you don't sell it. Matter of fact, it's getting close to the time to jump in with both feet. Hopefully you are in a top 500 or a top 5000 type stock fund.

I wish I would've bailed a week ago.

Too late now.
By the end of next week, the DJIA should be in the negative range, and all the bastiges making money off my accounts will be jumping when there's nothing left to drain.
(Bastiges make money buying and selling, feckers)

This pretty well sums it up....



Tommy's got it right though.

Quote:

I dunno, the crash in 1929 didn't come back to the previous level until 1954. And that's not counting inflation.

I am cashing in my 401k so I can buy lunch tomorrow.

About a year ago I took a loan out on my retirment and looking back I am damn glad I did. I took out 10K and now I am getting more out of everything as I repay my loan...I pay 5% interest to myself.

Better check that, if I understand correctly, any interest amount paid on a loan from your 401k goes to the finacier, not to you. The only thing that goes back into your account is the actual principal of the amount.

The market took a dump in the .com crash when the techs were overheated. People bailed and jumped on real estate, that got overheated. 9/11 sent everything into a tumble. When everybody gets comfortable and starts feeling that there is no place to go but up, everything will start improving. Unless a nuke drops on Iran or Russia gets a little fiesty or China decides it wants Taiwan back in the fold or some other upheaval in the world. It probably wouldn't be a bad idea for banks to use sound lending practices. This current world financial crisis is a great reality check. A new administration probably won't hurt the confidence level. New beginings always spark hope. Hope begets inspiration. Inspiration commands change. We will rebuild. Rome wasn't built in a day and neither is good nest egg. Buy low, sell high. Not sell low and buy high. Don't be sheeple.

Side comment. I'm sure institutional programs had an influence on the current market. It wont be long till the programs indicate buy and buy they will. The vultures are circling looking to pick up some solid companies dragged down by all the selling.

Crude was selling in the $78-$79 dollar a barrel range today down from it's recent high of about $147 a barrel. Gas prices should come down. There's a little good news.

That's why I stand behind my decision to be poor and not have any money in the stock market.....

Matthew

PS - sorry for your crappy return :sad7: