Just recieved my 401k update

Chi_archie · 07-12-10, 01:46 PM

I don't even bother looking now

Fishhead · 07-12-10, 01:47 PM

DAMN IT, sorry to hear.

STOCKs are not the place to be............I have advised everyone to unload out of their 401k for the past 2.5 years........and still doing such.

LOOK into GOLD, SOYBEANS, CORN, and FARMLAND as alternatives.

Brock Landers · 07-12-10, 01:51 PM

Mine cracked 100 dimes for the 1st time ever at the end of April...down to like 93K now.

Dad · 07-12-10, 01:59 PM

Originally posted by Brock Landers

Mine cracked 100 dimes for the 1st time ever at the end of April...down to like 93K now.

I lost $4k the last quarter.

ronjon619 · 07-12-10, 02:27 PM

i just checked mine. -9.25 rate of return.

not good

A special thanks to all you that bought homes that you can't afford.

Fishhead · 07-12-10, 02:34 PM

Originally posted by Brock Landers

Mine cracked 100 dimes for the 1st time ever at the end of April...down to like 93K now.

Your 401k is more than I've made in a lifetime.......and I'm 50

BROCK-WINNER
FISH-LOSER

OverUnder · 07-12-10, 03:33 PM

Guys, if you are dealing with 100,000 dollars then it should not be in a 401k currently, but there are several other products that would be very beneficial such as a Variable Annuity with a guaranteed step up each year of 6 percent, but you are still able to grow your assets when the market eventually does begin to produce again.

Brock Landers · 07-12-10, 04:47 PM

Originally posted by Fishhead

Your 401k is more than I've made in a lifetime.......and I'm 50 BROCK-WINNER FISH-LOSER

its all on paper fish, if i cracked that egg i'd give half away in taxes and fines right now. good thing i am only 36 LOL

msubulldog · 07-12-10, 05:10 PM

-10.42 rate of return for last quarter; -8.15 on the year. not in 401 in 2 separate ira's.

konck · 07-12-10, 05:14 PM

Ive zigged and zagged but over the last 4 years im +21% i'll take that

konck · 07-12-10, 05:14 PM

I manage my money weekly and play the hot hand a lot

TexansFan · 07-12-10, 05:18 PM

I pulled all of my money out of my 457k when the market was at around 11200 or so. I put it in a fixed account making 4.3%

I was advised that what we went through in 2008 is nothing compared to what we will see in the near future.

Tony G · 07-12-10, 07:30 PM

Pulled mine three years ago and stuck in a annuity it has been doing OK, the wifey lost 3k and it's time to do the same with hers.

OverUnder · 07-12-10, 09:17 PM

Originally posted by msubulldog

-10.42 rate of return for last quarter; -8.15 on the year. not in 401 in 2 separate ira's.

Wow there is no excuse for that. Who manages your money?

jw · 07-12-10, 09:23 PM

-9% last quarter .. but just 1.3% down for the year ... and +23% in the last 12 months.

flyingillini · 07-12-10, 09:26 PM

Makes me sick to my stomach to think about it

LLXC · 07-12-10, 09:42 PM

My 401k is very new (3 years old) and equal to how much I put in, so I guess I can't be too upset. Hopefully it's buying up a lot more stocks now.

itchypickle · 07-12-10, 09:47 PM

Originally posted by konck

I manage my money weekly and play the hot hand a lot

Easy or the capital gains will eat it up. Odd to hear a 401k with that much movement...or are you just talking about individual investments?

Emily_Haines · 07-12-10, 09:49 PM

We are all fukked!! They government is trying to come up with ways to steal it from us. Wouldn't be surprised to see if they forced us to buy government treasuries in the future or taxed withdraws at some absurd rate. The way this country is collapsing it wouldn't surprise me if a loaf of bread cost a quarter million dollars in 15 years.

stevek173 · 07-13-10, 12:24 AM

What is a retirement account?

ThaTopMoron · 07-13-10, 02:54 AM

this is why i avoid starting up a 401k...im only 26, but still. i learned enough about this world that i have known for a while that this country was going to go to shit and now it is slowly coming to fruition... forced health care and Obama does whatever he wants (if he can't do it he abuses the executive order power) just the start. anyone else want to add in some of the bs that Obama has already done?

mikejamm · 07-13-10, 03:39 AM

Poured money into mine religiously, only to watch it fuk'in flush down the drain! Got the fuk out of it and started buy'in real estate. Land will never lose money. Buyers market right now too, due to banks losing their asses on these short sales and auctions! Never looked back on that bullshit corporate 401K scam! Why let some dumb fuk money manager, stock broker or financial company lose your hard earned money? Bernie Madoff ring a bell? Well there's a shit load of pricks just like him working in the the financial industry. Learn to manage your own cash and you won't get fuked!

Surebet · 07-13-10, 04:06 AM

My personal rate of return is around -9.03% this quarter. Overall one year is looking at +17.37%. Seems like gold is not a bad idea, so expensive though I bought U.S and Canandian backed Eagles/Maple Leafs.... Could reach 1500 an oz by years end, though. Last year my employer dropped the % of company matching on the 401k.

Staples are safe (food companies and gold)

jjgold · 07-13-10, 05:23 AM

Market is finished for the next 5 years or so

GET OUT OF 401K's

JEK · 07-13-10, 06:06 AM

Your 401 may not look great but its a lot better than it was from March 09.

eidolon · 07-13-10, 06:25 AM

I think I lost about half :\

OverUnder · 07-13-10, 06:37 AM

Originally posted by ThaTopMoron

this is why i avoid starting up a 401k...im only 26, but still. i learned enough about this world that i have known for a while that this country was going to go to shit and now it is slowly coming to fruition... forced health care and Obama does whatever he wants (if he can't do it he abuses the executive order power) just the start. anyone else want to add in some of the bs that Obama has already done?

Traditional IRA with systematic deposits is what you should go with. PM me if you want more info.

itchypickle · 07-13-10, 07:37 AM

Originally posted by OverUnder

Traditional IRA with systematic deposits is what you should go with. PM me if you want more info.

You are John Bogle in disguise aren't ya??

But yeah I agree over 12-20+ years the old ways of dollar cost averaging and compounding will get you there if you are in the right vehicles and spread out well...I just did a 10% adjustment away from stocks into more conservative methods until probably the end of 2010.

Fishhead · 07-13-10, 07:53 AM

Originally posted by jjgold

market is finished for the next 5 years or so

get out of 401k's

You're so right!!!!!

This is great advice!

bruceBRUCEbruce · 07-13-10, 08:06 AM

Originally posted by TexansFan

I pulled all of my money out of my 457k when the market was at around 11200 or so. I put it in a fixed account making 4.3%

I was advised that what we went through in 2008 is nothing compared to what we will see in the near future.

good move, and solid advice.

geebert74 · 07-13-10, 08:50 AM

I opened mine after the blow up on WallStreet. Only 26 now, so I figure what I put in would havre been put in the shitter. Glad I didnt start till this year.