Community Chat

[heart of savino]

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.

[kaydee50]

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.

[KatieB]

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.

[Abrowneyegirl]

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

[Oostende]

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.  

[Porcelain]

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.

[hckynut]

@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

[itsmagic]

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

[hckynut]

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@Abrowneyegirl wrote:

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

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@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