Dow Jones rising… new financial plan…

bass player 48 · #1 03-26-2009, 09:10 AM

Yup, I’ve finally made a financial plan for the first time since the recession hit. If the Dow goes above 8,000 then I’ll actually take a look at the balance in my 401K. I haven’t been able to look in months.

PSPookie · #2 03-26-2009, 09:23 AM

You realize, of course, that at 8,000 the DOW will still be down 27% from last summer.

While I find ths recent upswing encouraging, I'm not ready to celebrate yet.

Proceed with caution, but now is still a good time to buy.

bass player 48 · #3 03-26-2009, 09:31 AM

Quote:

Originally Posted by PSPookie

You realize, of course, that at 8,000 the DOW will still be down 27% from last summer.

Oh yes, I'm painfully aware of this... The 52 week high and 52 week low are mind bottling.

Like I said, I can't even look at my investments. Maybe at around 8,000 I could actually stand to look at it again.

Unrepresented · #4 03-26-2009, 10:14 AM

I've already looked now and then. Depressing.

Just got my quarterly report from a seperate retirement account with a newsletter attached practically patting themselves on the back for only losing 15% by balancing their investments between more conservative funds and stocks. They also had the balls to charge me a maintenance fee for losing my money.

PSPookie · #5 03-26-2009, 10:18 AM

Only losing 15% isn't too bad. They should be relatively pleased with their perfomance.

lowendmafia · #6 03-26-2009, 10:22 AM

It is a bear market rally, even if the dow makes a significant increase the inflation we are about to see will kill you in the end.

Relic · #7 03-26-2009, 10:58 AM

I haven't looked at my 401k for a while.. I need some good vodka first.

Absentia · #8 03-26-2009, 11:16 AM

Quote:

Originally Posted by Relic

I haven't looked at my 401k for a while.. I need some good vodka first.

then once you look at it you realize you shouldn't have bought that expensive vodka and will have to live off of Five O'CLock for the rest of your life.

A few points doesn't mean a damn thing IMO. Numbers can lie just like the people who make them up.

Unrepresented · #9 03-26-2009, 12:11 PM

Quote:

Originally Posted by PSPookie

Only losing 15% isn't too bad. They should be relatively pleased with their perfomance.

I can accept that my 401K loses value, since I'm the one who chooses to have my pay docked, and I have some control over which funds the investments go towards. I chose to go heavily into stocks, which can be risky. My control. My loss. My problem. Wish the gov't had prevented this, but at least I have some responsibility in the matter.

The retirement fund is separate and I have no control over it. I can't choose levels of risk, contribution, etc. When experts lose my money and then charge me for it, I call foul play, regardless of how much better their loss was than the street's loss.

MakiSupaStar · #10 03-26-2009, 12:26 PM

Quote:

Originally Posted by Unrepresented

I can accept that my 401K loses value, since I'm the one who chooses to have my pay docked, and I have some control over which funds the investments go towards. I chose to go heavily into stocks, which can be risky. My control. My loss. My problem. Wish the gov't had prevented this, but at least I have some responsibility in the matter.

The retirement fund is separate and I have no control over it. I can't choose levels of risk, contribution, etc. When experts lose my money and then charge me for it, I call foul play, regardless of how much better their loss was than the street's loss.

Yep. That's pretty much me in a nutshell.

PSPookie · #11 03-26-2009, 12:56 PM

Quote:

Originally Posted by Unrepresented

I can accept that my 401K loses value, since I'm the one who chooses to have my pay docked, and I have some control over which funds the investments go towards. I chose to go heavily into stocks, which can be risky. My control. My loss. My problem. Wish the gov't had prevented this, but at least I have some responsibility in the matter.

The retirement fund is separate and I have no control over it. I can't choose levels of risk, contribution, etc. When experts lose my money and then charge me for it, I call foul play, regardless of how much better their loss was than the street's loss.

Try to keep in mind that the "experts" lost more than most and be thankful that it wasn't worse. But I hear ya'.

Atoz · #12 03-26-2009, 01:02 PM

Quote:

Originally Posted by lowendmafia

It is a bear market rally, even if the dow makes a significant increase the inflation we are about to see will kill you in the end.

Yes.

hbarcat · #13 03-26-2009, 08:39 PM

Quote:

Originally Posted by lowendmafia

It is a bear market rally, even if the dow makes a significant increase the inflation we are about to see will kill you in the end.

Yup.

lowendmafia · #14 03-26-2009, 10:00 PM

I am glad that BS in Economics I paid so many thousands of dollars for is finally paying off....

eedre · #15 03-28-2009, 12:34 PM

Quote:

Originally Posted by PSPookie

Try to keep in mind that the "experts" lost more than most and be thankful that it wasn't worse. But I hear ya'.

The same "experts" that say everything will be fine (while they drive to work in their $80,000 car and park in a heated garage) because their well-being depends on people trusting what they have to say?