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re: Have you checked out your 401k lately?
Posted on 6/14/22 at 10:16 am to onmymedicalgrind
Posted on 6/14/22 at 10:16 am to onmymedicalgrind
My overarching point is I learned the lesson of 2008. I wish I were on the sidelines contributing to and parked in a money market fund at the time. Just my opinion but I think it's the place to be for the next 6 months then reevaluate after that.
1
Posted on 6/14/22 at 10:20 am to GumboPot
I would agree.
There’s going to be a lot of upheaval.
Some may say you can always make it back. Some people may not have that luxury.
We are entering a recession. How long that lasts in uncertain. I suspect it will be 2024 before we have a chance at stability. But the political situation is so crazy.
There’s going to be a lot of upheaval.
Some may say you can always make it back. Some people may not have that luxury.
We are entering a recession. How long that lasts in uncertain. I suspect it will be 2024 before we have a chance at stability. But the political situation is so crazy.
Posted on 6/14/22 at 10:25 am to Rhino5
Haven't checked in 2 months. Just did. - 19%
Posted on 6/14/22 at 10:31 am to Rhino5
17 years in the railroad with 21 to go. I'll invest more money in long term stocks while prices are down. Assuming I don't lose my job when S hits the fan.
Posted on 6/14/22 at 10:32 am to crimsonuatide
I’ve lowered mine to the minimum contribution that gets the maximum match from my company.
Posted on 6/14/22 at 10:40 am to bluestem75
quote:
I’ve lowered mine to the minimum contribution that gets the maximum match from my company.
Why would you do that?
Posted on 6/14/22 at 10:42 am to OysterPoBoy
quote:
I was smart enough to get out in 2008. You people can watch your money disappear. Fool me once.
What. Even after this downturn everything is way up from 2008.
Posted on 6/14/22 at 10:43 am to LuckyTiger
quote:
Never take money out of 401(k). It’s all still in there. And more is always going in. It’s just that it’s out of mutuals and stocks and in bonds.
Then you have also taken a real beating in bonds.
Posted on 6/14/22 at 12:19 pm to Rhino5
Yes, and I shouldn't have. FML.
Posted on 6/14/22 at 12:26 pm to Chimlim
quote:
I made the huge mistake of checking it yesterday. I fricking hate Joe Biden.
Haven't check mine since he took office. I'm just thinking positive that at least my money is buying more shares in this garbage economy. My buddy who had close to a mil tied up is down over 100k. I'm not retiring anytime soon so im ignoring the massive downturn.
Posted on 6/14/22 at 12:28 pm to Statestreet
quote:
Let's review Madcow's article: MSNBC quote: Trump spent years operating from the assumption that Wall Street was a direct reflection of the American presidency — and upturns were proof of Oval Office excellence. That never made any sense, but as the major indexes reach new heights under Biden, I'll look forward to the explanation as to why the stock markets are no longer politically relevant.
That aged well. God, she’s a moron.
Posted on 6/14/22 at 12:29 pm to Rhino5
It's going to get worse. I posted a month ago the S&P will be 3700 by July August....it's going to be closer to 3500.
Posted on 6/14/22 at 12:52 pm to Rhino5
I’m in about 50% cash so mine hasn’t been that bad.
Posted on 6/14/22 at 1:12 pm to OysterPoBoy
quote:
I was smart enough to get out in 2008. You people can watch your money disappear. Fool me once.
I'm no genius, but if you got out in 2008, you ain't one either.
Posted on 6/14/22 at 1:32 pm to The Boat
quote:quote:
I was smart enough to get out in 2008. You people can watch your money disappear. Fool me once.
What. Even after this downturn everything is way up from 2008.
The play is to step aside temporarily but look for targets to get back in at a lower price. We have been through this boom bust macro cycle many times. I know it's almost impossible to time the market perfectly but the worst that can happen is you make ~0.4% in a money market account. If you believe we are in a recession, and I believe we are, I just think its better for me to be out of stocks sitting on the sidelines and looking for a lower entry point at a later date. One of the key indicators is inflation and it's not over. The spring harvest at the end of summer will hit the grocery stores in late August to November. Those crops were planted with a 40% premium on fertilizer and high fuel prices (to plant and harvest). Big Ag will make up those costs on the grocery store shelves. Also add 15% ethanol to the equation and that is more demand for corn. The price shocks are not over.
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