FROG MAN Posted August 20, 2008 #1 Posted August 20, 2008 That's what I keep telling myself as I watch my retirement nest egg go down down down. 401K is a good thing but small company plans offer few fund options for moving money around in a down trend. I have watched the bond fund and money markets options for over 10 years. Never seen them make more then 3 or 4 percent in good times but during down trends at least they are good holding funds. I missed the peak in Oct 07 just like I did in 2000. Forget about calling your fund financial planner he only returns calls once every 6 weeks. So now we are waiting for the rebound. The funds I'm in have been good funds but across the board everything is down. So pour me another one as I analyze the difference between where I should be and where I am to the tune of down by $40,000 and falling.Things could be worse GM is down by 60% according to the news. So who on wall street just bought a new Harley on me?Waiting on a rebound.There is always plan B. Work till you die and spend the kids inheritance.
Squeeze Posted August 20, 2008 #2 Posted August 20, 2008 Hey Froggie, stay calm. The Markets will go up after the Election in November. Of Course, it would be fine if one would have the best Cards available in Hands then. To me, it seems that some Shares of the big Oil Companies would be a good Choice ?? Also, i expect the green Buck coming out out of the Low Exchange Rates in 2 Years. But you're right, there are People and Companies which are making Money out of every Move the Market does. We, the last ones in the Row are only earning the Crumbs.
Eck Posted August 20, 2008 #3 Posted August 20, 2008 Well I to was in a good mood this morning till I read the local news paper.. I read an article about an upcoming (17 to 27%) price hike in utilities.. (electric & water) ......starting Oct 1st.. I said the same thing..My retirement dream is slipping away and there is nothing I can grab onto to hold on to it..as I would like to have it.. However, some day, I will retire.. I dream every day of living a life "somewhat" like Lowell lives... just take off and ride .......until my next Dr. appointment..
FROG MAN Posted August 20, 2008 Author #4 Posted August 20, 2008 Thats an idea ECK. I could sell everything,retire and ride a first gen all over the country. We got enough members to put me up for the night 365 days a year. I wonder if Redneck would let a first gen park in his garage?
Squidley Posted August 20, 2008 #5 Posted August 20, 2008 You folks that are closer to retirement have a better outlook for you than I do. I do have a 401 and there is still 15 years or so to put into it. But all the money that I will have put into Social Security for the 40 + yearsI will wont be there when I'm trying to retire. The 50 somethings might be able to pull some out of it, but I wont have squat....so I will be working uintil I die, and there's nothing I can do about it short of winning the mega millions
FROG MAN Posted August 20, 2008 Author #6 Posted August 20, 2008 Brad I know a man that won 11 million in the lottery. His kids immediately ask for a $5000 a week allowance. Who needs enemies it's family to worry about.
Eck Posted August 20, 2008 #7 Posted August 20, 2008 You folks that are closer to retirement have a better outlook for you than I do. I do have a 401 and there is still 15 years or so to put into it. But all the money that I will have put into Social Security for the 40 + yearsI will wont be there when I'm trying to retire. The 50 somethings might be able to pull some out of it, but I wont have squat....so I will be working uintil I die, and there's nothing I can do about it short of winning the mega millions Lets see Squidley... Hypothetically now...it cant be all that bad.. If you put 1,000 a month into 401k, times 12 months for the year = 12,000 company matching that same amount for same 12 months = 12,000 (a total of 24,000 a yr) Save this every year for the next 15 working years = $360,000.00 you would have Now, hypothetically speaking of course... Housing for a yr = Food for a yr = Gas for a yr = electric for a yr = water for a yr = hospitalizaiton (for two) for a yr = Dental (for two) for a yr = VR.Org M&E's for a yr = VR.Org rallies for a yr = Ice cream for a yr = Yea, I guess your right Squidley.... it just dont add up....... you better just keep working so that your SS taxes can go towards those of us who are in the later 50 yr old range who can retire.. gosh didnt that make you feel good ... I was only kidding..
Yammer Dan Posted August 20, 2008 #8 Posted August 20, 2008 I got the chance to do it this year but the more I look the more I think the work til die option is best way to go. How much longer am I going to be able to handle them when they want to play? Time for that desk job!!
KiteSquid Posted August 20, 2008 #9 Posted August 20, 2008 If you put 1,000 a month into 401k, times 12 months for the year = 12,000 company matching that same amount for same 12 months = 12,000 (a total of 24,000 a yr) WHERE do I find a company that does dollar for dollar mataching in it's 401k???????? Mine does 3%
Skid Posted August 20, 2008 #10 Posted August 20, 2008 Man, you guys are depressing me. In less than 6 years, I am cashing out!
Redneck Posted August 20, 2008 #11 Posted August 20, 2008 Thats an idea ECK. I could sell everything,retire and ride a first gen all over the country. We got enough members to put me up for the night 365 days a year. I wonder if Redneck would let a first gen park in his garage?I doubt a first gen will run long enough to get to my garage. The best way to handle the ups and downs in your retirement fund is only look at it every 10 years.
davecb Posted August 21, 2008 #12 Posted August 21, 2008 I would like to thank all of you who donate to Social Security....Cause I get mine in 1 year and 9 months... :clap2:
Squidley Posted August 21, 2008 #13 Posted August 21, 2008 I would like to thank all of you who donate to Social Security....Cause I get mine in 1 year and 9 months... :clap2: Your definitely not making any friends with me Only good point is I told my mother who just turned 60 to take it at 62. I might as well see someone in my family get something for my efforts
Eck Posted August 21, 2008 #14 Posted August 21, 2008 WHERE do I find a company that does dollar for dollar mataching in it's 401k???????? Mine does 3% It was only a theroritical story ..........
Pilot Posted August 21, 2008 #15 Posted August 21, 2008 I never was one who thought you HAD to leave money to your kids. If you add up what you have already spent on them you will see that you them. Nope not me, I plan on spending their future until I'm too to do it anymore. They are collage educated (with PHD's) let them make their own money....
Yammer Dan Posted August 21, 2008 #16 Posted August 21, 2008 WHERE do I find a company that does dollar for dollar mataching in it's 401k???????? Mine does 3% I get two for one!!!
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