401K up for a change

[eazyduzzit]

I'm sure that I'm not the only one who lost a ton of money last year in the stock market. I was down about 30 thousand dollars. I've always heard that you should buy when stocks are low, so I kept buying when it looked like the bottom was just gonna keep getting lower.

 

I just checked my balance today and was pleasantly surprised to learn that I'm back up to about where I was before. I'm sure I'm not the only one. I hope everyone else is making a comeback too.

[crockettrider]

You gotta have faith in our economy....it's bigger and better than most give it credit for.....I also am glad to see my investments showing health.

[RandyR]

I think the skunk showed his stripes.

 

I lost half my retirement savings while the investment execs were giving themselves multi million dollar salaries with my dissappearing money.

 

I'll leave it at that, as this could get political real quick.

 

[eazyduzzit]

What do you mean, you lost it? Did you withdraw while it was down? I lost nearly half of mine too, but it's back up now. Have you checked it lately?

[bmxndad]

Recovered?? No

 

Recovering?? Yes

[Yammer Dan]

I've been waiting 5 months to see what my retirement will be. Insurance Company holding everything up as usual.

 

Did I mention how much I HATE Insurance Companies!!!!

[eazyduzzit]

Recovered?? No

 

Recovering?? Yes

 

I am right there with you. I'm about where I was pre-crash, but not where I would be if the crash had not happened at all.

[GunnyButch]

Good to hear you stuck it out and get to see it coming back. A couple of the guys I work with bailed when it was low and really did lose then criticised those that didn't. Needless to say those that moved things around will take a lot longer to regain thier losses.

[Midrsv]

My 401k balance bottomed out about $100k from the peak about a year and half ago. It's back up a bit above that previous peak so that only means I've lost the 20% of my salary plus matching that I've contributed over the last year and a half.

 

I'm not crying I know many who are still much worse off.

 

DT

[hig4s]

Not that I had much to start with.. lost 95% of my 401k back when Worldcom when bankrupt and had to start over. But when the stocks started going down, I took out a max loan against my 401K, paid off most my other bills and did some work to my house, and since have been paying myself back with 8% interest. I'm actually doing much better than if I had left it all in there. And by the time the loan is paid back next year, perhaps the market will be better.

[eazyduzzit]

A couple of the guys I work with bailed when it was low and really did lose then criticized those that didn't.

 

I know... Some guys at my work did the same thing, and they wouldn't listen to anybody. Now they think that someone took their money, even though they were the only ones who had access to it.

[RandyR]

ba ba said the sheep on their way to the mutton factory to be fattened after being fleeced.

[crockettrider]

ba ba said the sheep on their way to the mutton factory to be fattened after being fleeced.

 

Ain't the first time in history.