The economy poll made me wonder about something else. This probably doesn’t apply to the majority of people in cafe, but here’s my question:
**Have you taken a look at your 401K (retirement plan) recently?
**I did, this afternoon, and it did not look good. YTD number went down 17%+ and so far I have lost over $2K
The good thing is that I am not retiring any time soon and I will have enough time for it to come back up, but I feel bad for the people who are retiring very soon. Must be very hard to see their savings go down the drain.
I don't know much about bonds. I started participating in 401K two years ago and I am going with it only because the company matches $.50 per $1 that you contribute.
So how does your method work? You still contribute to 401K but the at the end of the month/quarter/year move the money to a bond?
Its surely is bad news for some, was watching the box yesterday when this woman was talking about her upcoming retirement amd that she's lost almost 2/3 of her pension, she broke down in tears live on air.
My boss tells me that back in 1930s during the great depression, similar thing happened that people lost their savings etc. and a lot of them simply couldn't take the news and jumped out of the window of their office building and committed suicide (not on the same day).
I work in a highrise building but my office is on the 5th floor. In New Orleans I was on the 16th floor :D Our building has windows but they are sealed and they don't open. My manager also told me that back in 30s the office building used to have windows that opened but because so many people killed themselves, they made a law to seal the windows.
It's sad to see everyone's stocks and 401K going down. Meney stocks khareed rakhey they apni company k, when I bought them, the price was $80-$90 per stock. It was projected to reach $115 but instead of going up, it went down and now it's in $30s. Hamari young logon ki tou kher hai, but poor those people that are about to retire.
Yeah, 5th floor is not that bad. Use a chair if you have to... ;)
I had some money in stocks as well but I pulled out before whole thing went downwards. For example, visa, which was trading around $85 to $89 at its peak before it went down to like $59.
If google goes down from $700 to 300s, you know something is wrong. Mastercard was trading at $305 before bottoming out at $155ish and it is not over yet.
All of u guys are young, my sincere advice to everyone "PLEASE DONT STOP PUTTING MONEY IN UR 401 , YOU GUYS ARE SO YOUNG MASHA ALLAH AND HAVE LOADS OF TIME"
and shikra u r lucky just to lose $2K there are ppl who have lost their livings
You are right. I don’t plan to stop the contribution. It’s automatically deducted from my paycheck. So that’s a good thing.
**Jaan Leva **As for stocks, now is the time to buy stocks when they are down and cheap and hope they will go up soon. You (in general) can make some good money at that time. I used to buy stock (auto deductions from paycheck) when they were high. Then they started going down and I needed that extra money, I quit buying stocks. Now I am stuck with a bunch of stocks that I bought at high prices and can’t sell them now because if I do, I lose money. So I am sitting here hoping the prices would go back up soon and I’ll be able to sell them
X2 You are right, over the life time, it works out. We’ve heard about what goes up comes down, not sure about “what goes down comes up” - unless it has springs attached to it
