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Old 08-04-2011, 12:44 PM   #1
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How's the old 401 K going

Sold all my stock today. Market should do an upturn now. Buy high sell low. Always works.


We're screwed
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Old 08-04-2011, 12:46 PM   #2
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Our 401 K is sort of a 301 K . . . it's better than the 201 K it was a year or two ago!
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Old 08-04-2011, 01:30 PM   #3
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I agree it IS better than a 201k, sure hoping for a return to a 401k one of these days.
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Old 08-04-2011, 01:41 PM   #4
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Wait til you retire and have to start withdrawing that money!( of course, you will have it in an IRA by then). Then you'll be able to get some MORE gray hairs.
Actually, we can't complain too much this year. we're actually showing a profit, even with the monthly withdrawals. We are invested with Raymond James Financial Svs. (whoops-am I allowed to advertise?)
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Old 08-04-2011, 01:56 PM   #5
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When the market got above 12000, I pulled out enough to last me for 2 years emergency income and put it in bank CD's.

It's not going to gain, but at least I won't have to pull money out of investments at 1/2 of their original value when the other shoe drops - And it will drop, whether another Wall Street Rip Off or the second big terror attack on the USA.
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Old 08-04-2011, 02:08 PM   #6
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Simiple...................devalue the dollar.
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Old 08-04-2011, 04:46 PM   #7
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We lost 127,000 on the last down turn a year or two ago, then we made 62,000 gain, my broker called today and said we lost half of our nest egg yesterday, only God nows how much the 500 points that went down today has cost us.
I am considering going out in the woods and going on a diet to make ends meet.
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Old 08-04-2011, 06:25 PM   #8
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Pulled all of ours out of stocks two weeks ago
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Old 08-04-2011, 07:10 PM   #9
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Got out about ten years ago; did a ten year averaging; Beat the system before the bottom fell out.
Bought my house before the prices went through the roof.
Sometimes you win.
Came to Florida with $20 in my pocket.
Retired at 52; no one has give me a cent.
I'm 78 going on 79
House paid for, motorhome paid for; no bills, period.
Life is good
Only problem; wife in bad health.
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Old 08-04-2011, 07:23 PM   #10
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Quote:
Originally Posted by melvonnar View Post
Got out about ten years ago; did a ten year averaging; Beat the system before the bottom fell out.
Bought my house before the prices went through the roof.
Sometimes you win.
Came to Florida with $20 in my pocket.
Retired at 52; no one has give me a cent.
I'm 78 going on 79
House paid for, motorhome paid for; no bills, period.
Life is good
Only problem; wife in bad health.
Hope the wifes health improves. The rest is just money. I got out at the top last time got back in a little late. I got out when all this craziness started on the debt ceiling, starting to look like I hit another long ball.
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Old 08-04-2011, 08:34 PM   #11
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I set all stocks I buy with stop losses. Got out with very minimal loss during the last downturn. Kept it in cash for a while. Bought back in around the 7000 mark. Rode the "coaster" up & kept moving up the stop losses. A few stopped out the past 2 days, but at least I made good money on 'em. Now I sit on the cash, again, & wait.

L-
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Old 08-05-2011, 09:57 AM   #12
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Luckily the only drop I see is in my IRA's. Next time gold and silver are low, I think I'll buy some.
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Old 08-05-2011, 01:26 PM   #13
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The market will be back, might take a while, but it will be back, always comes back.
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Old 08-05-2011, 01:32 PM   #14
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Sold enough over the last couple of months for a good-sized emergency fund, will let the rest ride it out as I did last time. It did recover quite well until this last scare. It definitely is a roller coaster, almost better than the Intimidator at Kings Dominion!
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