topic Re: 401 K in Community Chat

401 K

heart of savino — Sun, 22 Mar 2020 17:09:35 GMT

Dont check your 401ks or stocks. you might get a heart attack what you see.

looks like my retirement will be put on hold for a couple more years.

Re: 401 K

kaydee50 — Sun, 22 Mar 2020 17:12:30 GMT

We went through this in 2008 when everyone's 401K became a 101K. Until recently it was a 1901K. Do not panic. Those who bailed out in 2008 missed a big comeback. Hang in there.

Re: 401 K

Susan-QVC — Sun, 22 Mar 2020 17:20:37 GMT

This post has been removed by QVC political reference

Re: 401 K

KatieB — Sun, 22 Mar 2020 17:21:29 GMT

I checked on my stock's total value last Friday - it's down the toilet.. I don't know how it will 'come back' from where it is now (next to nothing).... I knew I should have cashed out when all of this first started.

Re: 401 K

Abrowneyegirl — Sun, 22 Mar 2020 17:25:25 GMT

Pensions, 401K, stock options are all down and will all come back. There are no rewards without risks.

Re: 401 K

Oostende — Sun, 22 Mar 2020 17:27:27 GMT

If you have a little cash lying around, it's a great time to buy.

I have heard it said that stocks are about the only thing that people resist buying when they're on sale.

Re: 401 K

Porcelain — Sun, 22 Mar 2020 17:29:17 GMT

Not every risk gets a reward. The stock market is gambling. Play if you want for fun, but don't bet your future. The house always wins.

Re: 401 K

hckynut — Sun, 22 Mar 2020 17:30:35 GMT

@heart of savino

When I retired I got rid of all my 401ks and company stocks. I took that and invested it in myself. While it didn't/doesn't grow at the same rate it never changes enough to be a concern to me. I worked with men that lost 6 figures by keeping their's too long, and they are still in pretty bad financial shape.

The only reason I had these things is because my company gave them to employees with over 20 years of service. I retired at 52 and still live a very comfortable life. Haven't needed, or had any desire to hold any job since, and I have been offered 2 jobs and I said "no thank you".

My mom taught me how to handle my money at a very young age and this was/is the right way for me. Just sayin, not criticizing.

hckynut

Re: 401 K

itsmagic — Sun, 22 Mar 2020 17:44:05 GMT

I checked mine once at the beginning of this and decided I won’t check again until things start looking up.

Re: 401 K

hckynut — Sun, 22 Mar 2020 17:45:43 GMT

@Abrowneyegirl wrote:
Pensions,401KK, stock options are all down and will all come back. There are no rewards without risks.

@Abrowneyegirl

Thank you. That is exactly why I cashed in when I retired. I wasn't looking for "reward", just protecting what I already had at that time.

hckynut

Re: 401 K

Irish1210 — Sun, 22 Mar 2020 17:48:03 GMT

@kaydee50 I like your positive attitude ~ Thank you!!

Re: 401 K

Beth-QVC — Sun, 22 Mar 2020 17:51:07 GMT

political

Re: 401 K

SilleeMee — Sun, 22 Mar 2020 17:53:54 GMT

I'm receiving a state pension retirement fund now. I haven't had a COL increase in two years. They told us we might get one this year but that is doubtful. I'm concerned that they may decrease my monthly pension. It's my only income.

Re: 401 K

heart of savino — Sun, 22 Mar 2020 18:01:04 GMT

just checked on line wth my union on my monthly pension. every thing the same and will be put in my checking account april 1.dont worry your monthly pension check will remain the same.with my pension and social security thankful I will survive.

feel for those out of a job and no income coming in..

Re: 401 K

CelticCrafter — Sun, 22 Mar 2020 18:13:39 GMT

I'm glad we don't rely on a 401K for our retirement income.

We never gambled in the stock market either and don't regret it. People made fun of us but we're pretty happy right now the way things are going.

Re: 401 K

sweetee2 — Sun, 22 Mar 2020 18:27:11 GMT

We retired a year ago. We put some in stocks, some in the safe. Luckily we are with an investment company the what ever happens we will never lose our original investment . So anything over that is just gravy. Sure it would have been nice, but it wasn't ours to begin with.

Re: 401 K

granddi — Sun, 22 Mar 2020 19:09:22 GMT

@Oostende wrote:
If you have a little cash lying around, it's a great time to buy.

I have heard it said that stocks are about the only thing that people resist buying when they're on sale.

My opinion: it has not hit bottom.

My neighbor is a high wealth financial manager with Oppenheimer.

I asked him what his company was saying. His quote: bad, bad, bad.

Yes there will be great opportunities at some point.

Unless you knew a Senator or congress person (of either party) you got hit like the rest of the 99%ers.

Re: 401 K

FrostyBabe1 — Sat, 04 Apr 2020 17:19:38 GMT

@granddi wrote:
@Oostende wrote:
If you have a little cash lying around, it's a great time to buy.

I have heard it said that stocks are about the only thing that people resist buying when they're on sale.
My opinion: it has not hit bottom.
My neighbor is a high wealth financial manager with Oppenheimer.
I asked him what his company was saying. His quote: bad, bad, bad.
Yes there will be great opportunities at some point.
Unless you knew a Senator or congress person (of either party) you got hit like the rest of the 99%ers.

And if you did, and acted on it, be prepared for a trip to that special place that they call prison. Or at least a nice hefty fine for insider trading.

Re: 401 K

Abrowneyegirl — Sun, 22 Mar 2020 20:40:17 GMT

@Oostende wrote:
If you have a little cash lying around, it's a great time to buy.

I have heard it said that stocks are about the only thing that people resist buying when they're on sale.

It is a great time to buy. Buy low sell high is the name of the game.

You are correct, it is the only sale people do not take advantage of.

Re: 401 K

Snowpuppy — Sun, 22 Mar 2020 22:12:03 GMT

Nothing has hit bottom yet. Far from it. We will likely have a TARP Monday.

Real estate will begin to crater. Too many people out of work.