401k

[TexasBred]

I know there was a discussion a week or so ago about our retirement accounts. Any one checked theirs this afternoon. I know that I am not as well off as I was the first of the year even the first of this week. Probable own the wrong stocks. I bought stock that I thought provided a product that every one would need and not the latest social platform that only sells advertisement.

Unless you panic and sell you haven't lost a nickel. Relax, go do something and forget about your money.

 

[TexasBred]

Put a little money in a money market that wasn't making anything in a savings account. Locked in for a year at 3.5% thought it was a waste. It's the only thing making money now, lol.

Wow havne't seen a rate like that on anything except maybe a loan

 

[Col Reb]

State Farm had a promotion going on. Good for 1 year, only.

 

[Caustic Burno]

Put a little money in a money market that wasn't making anything in a savings account. Locked in for a year at 3.5% thought it was a waste. It's the only thing making money now, lol.

Wow havne't seen a rate like that on anything except maybe a loan

Not from any bank!

 

[Col Reb]

Put a little money in a money market that wasn't making anything in a savings account. Locked in for a year at 3.5% thought it was a waste. It's the only thing making money now, lol.
[/quote

Wow havne't seen a rate like that on anything except maybe a loan

Not from any bank!

Apparently not, anymore. Just checked State Farm money market & it's 1.65. The wife must have hit it just right when everything was going good.

 

[kilroy60]

My investments in my 401K have been in the most aggressive mutual funds that I have to select from. Yes, they are the most volatile when the market conditions are as they are now but they are the ones that can make you the most when the market is favorable. With the happenings going on now with the markets, yes, I am down to where I started the year in my 401K. Yes, it could likely go down more before it starts a rebound. However, my plans to use my 401K are years away and I'm not worried too much with this account for now.

I believe that you should put in as much as you can afford into you 401K as long as you have you home paid for and out of other long term debt. Also, never borrow from your 401K. I know of many friends that have become millionaires following this approach to their 401K's. Don't worry when the market falls. This is a buying opportunity. Review the options you have to invest in and look at the history of these funds. You'll find how many years they have been in the market with the number of years up and the number of years down. Don't fall for a money market account where you only earn 1 - 1.5% on you money.

 

[Caustic Burno]

Looks like the market is loosing it's fear.

 

[Bigfoot]

I have often wished land was the only thing I had ever invested in.

 

[Stocker Steve]

Looks like the market is loosing it's fear.

The stock buying and selling machines are fearless. It's all about momentum.

 

[Col Reb]

Put a little money in a money market that wasn't making anything in a savings account. Locked in for a year at 3.5% thought it was a waste. It's the only thing making money now, lol.

Wow havne't seen a rate like that on anything except maybe a loan

Not from any bank!

Yep! You're right & I'm wrong. The wife invested it & its 1.85%. Big difference. I guess I better stick to talking about something I know something about per the wife, lol.