Henceforth !

[Larry]

I will here after refer to my 401 K account as the 201 K account !

Stupidity by Congress is sure is costing a lot of people a lot of money.

I know, it's not a loss till you cash in !

You'd think the NHRA staff was running things !
At this rate rickshaws will become the transportation mode and racing will be limited to rickshaws and surrey's.
Well maybe after we become a third world country no one will want to blow us up!
Eh ! I wouldn't take that to the bank.

 

[Paul]

I will here after refer to my 401 K account as the 201 K account !

Stupidity by Congress is sure is costing a lot of people a lot of money.

I know, it's not a loss till you cash in !

You'd think the NHRA staff was running things !
At this rate rickshaws will become the transportation mode and racing will be limited to rickshaws and surrey's.
Well maybe after we become a third world country no one will want to blow us up!
Eh ! I wouldn't take that to the bank.

I try not to worry about it since I will not be cashing in my 401k for another 35 years. I try to look at the bright side, I am currently buying stocks at a discount. Considering how the market is doing, I am happy with a 20% loss this year. I know many people who are down 30% to 40% this year.

 

[badger]

I try not to worry about it since I will not be cashing in my 401k for another 35 years. I try to look at the bright side, I am currently buying stocks at a discount. Considering how the market is doing, I am happy with a 20% loss this year. I know many people who are down 30% to 40% this year.

O.K. Paul, for argument sake, let's fast forward 35 years and you have invested wisely and taken personal responsibility in your investments only to have 30-40% as you quote taken away so quickly from 35 years of planning for your retirement years.

Would you still be trying not to worry about it?

I think not!

 

[Nitrohaulic]

Here's what gets me. Don't the "wealthy" already pay most of the income tax in this country?

For someone like myself who doesn't buy the progressive tax shell game for one minute, that means the poor pay the income taxes THROUGH the wealthy.

That means the automakers are basically asking that the government use non union wages everywhere to subsidize the wages and benefits of union workers.

Let em fail and have to fix their own problems like the airlines did. Maybe car prices will do what plane ticket prices did.

 

[vegasnitro]

My 401K is INCREASING in value like a house on fire. The company that manages my 401K (Vanguard) has multiple investment options besides stocks. I have NONE of my money in stocks, it is mostly in a precious metals fund that has just ballooned in value the last 18 months. I also have some of it in bond funds ... I know, low risk = low return, but the bond funds have been performing at 7 or 8% per year where as the stock funds have went into the tank!

In other words, don't just sit on your hands, check with who manages your 401K and see what your options are. You may be surprised.

 

[Paul]

O.K. Paul, for argument sake, let's fast forward 35 years and you have invested wisely and taken personal responsibility in your investments only to have 30-40% as you quote taken away so quickly from 35 years of planning for your retirement years.

Would you still be trying not to worry about it?

I think not!

When I get older I will move my money into lower risk options (bonds, short term equity index, etc) which will lower my risk vs. the risk I have currently. This is my plan as of now, I am sure things will change.