Just checked my 401 statement

[Justyntym]

I don't have a lot in it, started late and just throw a little in...and the
exwife took half...started the quarter with 8k in it...lost $2500 in 3 months.

JP morgan gets some bailout money wonder if they'll cover my loss...NOT.

BTW-Speaking of bailouts...
Read an article today about the bailout money and top execs pay.
600 top banking execs ate up 1.6 BILLION in salary and comp.
Works out to 2.6 million average per exec for a FAILING COMPANY. WTF

One exec got the salary plus 200,000+ for a chauffeured car PLUS and
additional 80,000 for a financial planner. ??? The bank stated that providing
this allows the exec to concentrate more time and energy into their job
and helps them make better decisions.

Are you kidding me...2.6 million a year and you have my undivided attention.

Another exec got over 200,000+ for commuting between chicago and N.Y in
the company private jet.

Another got over 900,000 for a moving bonus.

Does anyone with the golden spoon not understand that they have FAILED.
Enormously failed and helped send the entire country into a tailspin.

What the heck is going on with this country

 

[Justyntym]

BTW....2.6 million is 50,000 dollars....A WEEK

 

[busaville]

.... Wow !!

 

[dadofthree]

I'm sure you know it, but unless the stock you have goes completely away it will rebound in time. The stock market is always up and down. You're good as long as your overall investments grow over time.

 

[Wag]

Way back when I worked for a major corporation, I was seeing exec pay in the neighborhood of $3,000,000 per week. Yup. Per week. I would see the cancelled checks come in week after week so they were not just bonuses. I never saw those.

Scary stuff. Those were net checks, too, AFTER taxes.

--Wag--

 

[BusaWizard]

Wow is right.

 

[Mr Bogus]

consider yourself VERY lucky to have only lost $2500 in 90 days.. I like many others have been losing substantially more than that on a weekly basis..

Worse yet are the poor folks caught up in the Maydoff scam... That is a man that should be publicly humiliated and executed.. he has taken the life savings of tens of thousands of people in his disgraceful ponzi scheme... Never been more disgraced of an American in my life..

The upside is you are probably young enough to hopefully see the restoration of your 401 (provided they ever recover)..

My adviser says to keep buying.. and I have... hope I am doing the right thing myself..

 

[HillbillyTom]

I have mine in very conservative stuff, more like a glorified savings account so I've not lost much. Some people where I work lost thousands. 401Ks always looked like another form of legal gambling to me. And I'm not much of a gambler, money is too hard to get to risk much on the hope I'll "recoup my loses" at some later date. So I play conservative and at least try to keep what's already mine.

 

[ambulldog]

i dont need to look at mine to have a rough guess at what mines down. i know its ugly but oh well

 

[Mr Bogus]

i dont need to look at mine to have a rough guess at what mines down. i know its ugly but oh well

Yea ugly is a great word... 35% for me in the last 5 months... really smarts..

 

[txbikerdude]

$900k for a moving allowance? WTF!!

 

[GoAWOL]

Finally looked at mine....29% hit Good thing I have time and am not retiring for good anytime soon.

 

[ks-waterbug]

Good time to be buying... Its on sale! On the other hand its not a lose until you touch/move it.......

 

[DEMMYM]

Way back when I worked for a major corporation, I was seeing exec pay in the neighborhood of $3,000,000 per week. Yup. Per week. I would see the cancelled checks come in week after week so they were not just bonuses. I never saw those.

Scary stuff. Those were net checks, too, AFTER taxes.

--Wag--

Hey Wag does that say 3 Million per week.

 

[fiend]

I have lost 55%of mine so far this year, but everything I have was in aggressive accounts, and I'm 26 so I have plenty of time to make it up. The best thing to do would be to leave everything alone, it will eventually go back up; and find the highest yield rate for the cheapest amount of money and buy shares of that right now when it starts going back up move it into a stable account.

 

[shawnski]

401 k what is that? my company sent us a letter couple of months ago that they quit contributing till furthur notice!

 

[runeight]

I backed my percentage way down Randy. 19% to 5%. A financial adviser, and I realize they are a dime a dozen, made the point that with the daily swings of 200 points the stock you buy one day loses money the next. (many factors here)

Although you now pay taxes by reducing your contribution use the extra money to pay off debt until the market "settles". This is what I will do for six months or so as my debt is very low but debt none the less.

In your case no debt so yes, I would pour all I could into your 401K plan. I'm backing down for a little while. Paying off debt is the first thing someone should do next year. I'm forecasting April as my target date. (profit sharing/tax refund)

I am down $62,000 since June. I would like to thank Wall Street greed, Senator Barney Frank ,Senator Dodd and a host of others.

r8

 

[SLEEPERBUSA]

I've lost over $126,000 since June.
The fortunate thing is that I had it too lose.
My hopes are that if I can hang in there long enough, it'll come back.
My shares are still there, so if the $$$ per share comes back up, so will my $$$$.
The other posative is that it's down on the buying price right now, so that allows me to buy even more per dollar.
I'm looking for away to keep smiling during this mess.

 

[Mrs.Rubber2Burn]

Mine is going down the toilet as well. I have done like R8 and lowered my contributions.

I hate it because mine is made up of 51% company stock (we have no choice in the matter) and since I started work my company stock has just plummeted.

 

[Kento-Moto]

I had $50K and now it's $30k