How's Your IRA/401K Doing?

[bkisel]

Ugh! Took a look at mine and put my stomach in a knot.

 

[BernardSmith]

Incredibly hard for me to fathom why workers in the USA accepted the privatization of their pensions and did not demand that pensions be underwritten and guaranteed by the government and be based upon the taxes we pay that would have been channeled for pension payments. Privatizing pensions makes the same sense as privatizing the justice system or the military.

 

[dangerdave]

The Police & Fire Pension Fund is the largest private pension fund in the nation. Twelve billion in assets, last time I looked. The federal goverment has tried ceaselessly to gain access to the fund so they can borrow from this money. They have gone so far as claiming they can grab it all by declaring a national emergency (such as a financial crisis?), looting the pension of many thousands of first responders on the basis of "national security".

Aside from my pension, I have some investments of my own. In 2005, in a surprising leap of insitefulness, I took all of my own investments off the market and placed everything in a guaranteed return in anticipation of retirement (now mere months away). So when everyone else was pulling out their hair during the recent financial crisis, I was making money every day. The interest is lower than one could make playing the market, but I can't lose. I like that!

Besides, we all know the stock market is rigged. I'll never have any of my own money in there again. Too scary!

 

[bkisel]

Thankfully, about 8 years ago, I did an in service transfer of my 401K into a 10 year deferred annuity paying 7.5%. The time from then until I retired still allowed me to build up as good sum with what I was putting in and the company match 401K that I rolled over into an IRA comprised of several not too risky funds. Maybe wouldn't have bothered me much if I were a younger man but now at 70 years of age it troubles me to see any loss of principal in my IRA.

 

[Geronimo]

This is just a correction... it happens every other year or so. Just let it pass. Any quick action at this point is a big mistake. It's hard to understand, and harder to stomach, I know.

 

[roger80465]

It is only a loss if you make a move now. I am 62 and cringe when I see the market tank like it has in the last couple weeks. But I will stay the course and will continue for another couple years. When I reach 64 or 65, I will find a higher point and move to an interest bearing product. Then I will breath a sigh of relief and retire. Can't wait!

 

[Boatboy24]

Short term gains, short term losses - only if you act on them. Unless you are a trader with millions at your disposal, the market is a patient man's game. Stay well diversified and invest regularly and you'll do OK. You won't get filthy rich, but you can build a nice nest egg. I'm 45 and while this makes my stomach gurgle a little, I'm OK. Another 10 years, and I might feel a little sick about these kind of moves. But look at it this way: if you're currently investing on a regular basis via payroll deduction, employer match, or hopefully both; your contributions are buying that much more at a 'discounted price'.

 

[garymc]

What he ^ said. I'm 63 and my holdings have dropped in value by $70,000 in the last 2 or 3 months. But it's $70,000 I didn't have a year ago. I'm going to be invested in stocks for 20 or maybe 30 years, then my heirs can have it.

 

[Geronimo]

Think of it this way...


The STOCKS ARE ON SALE!!!!!

 

[DoctorCAD]

Incredibly hard for me to fathom why workers in the USA accepted the privatization of their pensions and did not demand that pensions be underwritten and guaranteed by the government and be based upon the taxes we pay that would have been channeled for pension payments. Privatizing pensions makes the same sense as privatizing the justice system or the military.

Yea, cause our government is SO GOOD at handling money...

Keep your hands off MY MONEY!!!!!

 

[JohnT]

The government already manages a pension fund... Social Security...

Given the state of that debacle, I would prefer to keep my money in the private sector.

 

[Rocky]

Yea, cause our government is SO GOOD at handling money...

Keep your hands off MY MONEY!!!!!

Yes it is! They have an unlimited budget and still manage to over spend it.

 

[cdevrard]

I'm just acting like Shultz in "Hogans Heros" over here. "I SEE NOTHING!!!" At age 44 I'm going to keep my blinders on, keep investing, pray/hope the country doesn't tank, and keep buying tangible assets as well.

 

[francois_du_nord]

I try not to pay a whole lot of attention. And while the gyrations of the last couple of weeks might cause concern, they pale in comparison with the dotcom bust at the turn of the century and the financial industry implosion in 2007-8.

My wife and I have been systematically putting away a significant portion of our earnings for the past 30+ years, and it has grown into *real* money. Not 'buy my own G- IV or 50 foot Searay' money, but certainly enough that we have a real shot at retiring.

But as I said to my advisor a couple of years ago: I've heard it said that when you look around the poker table and you don't know who the mark is, it is probably you.

And the crime of our current financial system is that all of the hard working stiffs making investments, from pension funds to 401k dollars to individual stock purchases are all marks for Wallstreet. Their paychecks are based upon gaming the system. You and I make 4% while they feast on the margin.

And they DO buy G IVs.

</end rant>

 

[697713132]

The government already manages a pension fund... Social Security...

Given the state of that debacle, I would prefer to keep my money in the private sector.

no the government does not manage SSI,,,,
THEY MEARLY STEAL FROM IT LIKE THE THIEVES THEY ARE,,,,,,

 

[JohnT]

no the government does not manage SSI,,,,
THEY MEARLY STEAL FROM IT LIKE THE THIEVES THEY ARE,,,,,,

Not to get too political, but what is the scariest thing ever spoken???


--- "I'm from the government and I am here to help"---