I am sad to announce that my 401K was taken off life support and was officially pronounced dead at 3:30 p.m. Central Standard Time today. It was born on September 15th, 1984 in the benefits department of Mobil Oil Corp. where I watched it grow for 12 years.
It was rolled over in 1996 and nurtured under the care of Vanguard, the plan administrator for the law firm where I had worked for the next 10 years. After taking my latest position in 2006, I elected to leave it at it's final resting place where passed on in a violent death caused by greedy speculators and CEO's.
It leaves behind 24 years of hard work, a soon to be ex-Viper owner and his three dependents. Services will be held at the paper shredder tomorrow at 1:30 p.m. followed by a weekend binge of booze.
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2008 SRT/10 VERY Orange/Black Stripes
2001 GTS Bumble Bee
1970 Cuda
Count me in also. I made the mistake of looking at my 401k last night. I am only 43, so I can't touch it for many years. But what really sucks is that I have been putting money away for my three daughters for about 12 years to help with college. My oldest will be heading to college in a year and a half, and they have lost about 30% of the money that we had for them in mutual funds. paper or plastic maam!!!!!!!!!!!!!!!!!!
I'm 39 and my government TSP (401K) has lost 30K in two months. I've redirected most of the funds into something a little more secure (less big drop on bad days/months) for the time being. I too have a way to go before retirement, just hoping to get back in agressively once the market starts back up and take advantage of the very low prices.
Im 24 and my 401k is down a bit... Im putting it in a fucking "high interest" savings account, lol. Fuck this market shit.
Call me stupid but I just bought another house. I bought one in January and Im closing on another by the end of this month.
Im going all in hoping in 10+ years, the housing market turns around and I will bank. I cant beat my 30/yr fixed loan through a big company (wells fargo) at 5.26% FIXED.
I hope it works out, lol. Rentals are the thing out here so we shall see if I can keep them all rented. Im up to two houses and one commercial building that just paid itself off but has 3 years left on the 5 year contract.
wish me luck, if this tanks, Im going to be hurting
If you had purchased $1,000 of AIG stock one year ago, you would have $42 left.
With Lehman, you would have $6.60 left.
With Fannie or Freddie, you would have less than $5 left.
But if you had purchased $1,000 worth of beer one year ago, drank all of the
beer, then turned in the cans for the aluminum recycling REFUND, you would have
had $214.
Based on the above, the best current investment advice is to drink heavily and
recycle.
If you had purchased $1,000 of AIG stock one year ago, you would have $42 left.
With Lehman, you would have $6.60 left.
With Fannie or Freddie, you would have less than $5 left.
But if you had purchased $1,000 worth of beer one year ago, drank all of the
beer, then turned in the cans for the aluminum recycling REFUND, you would have
had $214.
Based on the above, the best current investment advice is to drink heavily and
recycle.
Im 24 and my 401k is down a bit... Im putting it in a fucking "high interest" savings account, lol. Fuck this market shit.
Call me stupid but I just bought another house. I bought one in January and Im closing on another by the end of this month.
Im going all in hoping in 10+ years, the housing market turns around and I will bank. I cant beat my 30/yr fixed loan through a big company (wells fargo) at 5.26% FIXED.
I hope it works out, lol. Rentals are the thing out here so we shall see if I can keep them all rented. Im up to two houses and one commercial building that just paid itself off but has 3 years left on the 5 year contract.
wish me luck, if this tanks, Im going to be hurting
