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  1. #1
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    Exclamation ALERT: STOCK MARKET BIG DROP (STOCKS DOWN 420 pts)...

    and its STILL falling! :-/

  2. #2
    less0305's Avatar
    less0305 is offline The face is familiar, but I can't quite remember my name!
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    I hear my 401k tumbling!

  3. #3
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    Quote Originally Posted by less0305 View Post
    I hear my 401k tumbling!
    Depending on how old you are, it's a good thing (that is, if you're young). It means you'll be able to buy more shares because of cheaper stock prices. If you're near retirement then this is a concern.

  4. #4
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    Feds slash interest rates in emergency session

    NEW YORK (CNNMoney.com) -- The Federal Reserve slashed two key interest rates by three-quarters of a percentage point Tuesday following an unscheduled meeting, citing continued concerns about a weakening economy and turmoil in the financial markets.

    The Fed lowered its federal funds rate, which impacts how much consumers pay on credit card debt, home equity lines of credit and auto loans, to 3.5 percent from 4.25 percent.

    Link: http://money.cnn.com/2008/01/22/news...ex.htm?cnn=yes

  5. #5
    Join Date
    May 2006
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    Much ado about nothing--Dow is almost green now--and the penny, sub-penny market is still red hot, as it has been for four years

  6. #6
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    Jun 2005
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    Quote Originally Posted by Paladin View Post
    Depending on how old you are, it's a good thing (that is, if you're young). It means you'll be able to buy more shares because of cheaper stock prices. If you're near retirement then this is a concern.
    Seriously:
    How old?
    If you're young @ 16?
    If you're young @ 21?
    If you're young @ 40?

    Near retirement?
    How near????
    1 year?
    5 years?
    10 years?

    TIA...

  7. #7
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    Aug 2004
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    OH NO I don't wanna look... aaaauuugh! I just went through this at the beginning of the year. I was checking my 401K and it took a dive the first few days, then it went back up and I was happy again.. I'm afraid to look..


    This post is my opinion only, and is subject to making me look totally confused

  8. #8
    Join Date
    Mar 2006
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    Quote Originally Posted by AlohaGal View Post
    Seriously:
    How old?
    If you're young @ 16?
    If you're young @ 21?
    If you're young @ 40?

    Near retirement?
    How near????
    1 year?
    5 years?
    10 years?

    TIA...
    Hehe, I don't know of any 16 year old with their own 401k. They must be a child prodigy.

    Generally the younger you are with a 401k the more aggressive some financial advisors will suggest you be. There's time to bounce back from stock slides.

    Gradually as you age you'll want to become less aggressive and put more into stable funds. By the time you retire all (if not most) should be in stable funds.

    I can't really tell you what ages, but it's a sliding scale. I'm sure there are articles available on the internet to describe this.

  9. #9
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    Quote Originally Posted by PaperDoll View Post
    OH NO I don't wanna look... aaaauuugh! I just went through this at the beginning of the year. I was checking my 401K and it took a dive the first few days, then it went back up and I was happy again.. I'm afraid to look..
    My advice? Don't.

  10. #10
    Join Date
    Jun 2004
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    Quote Originally Posted by Ntegrity View Post
    My advice? Don't.
    nooooooooo.......
    I don't look in times when it's bad, haha. I have a hard time stomaching it...


  11. #11
    Join Date
    Aug 2003
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    4,139
    I was considering retirement in a year when DH retires. It doesn't look like that's gonna happen now. My 401K has lost way too much to get out now. Ughghghgh.

  12. #12
    Join Date
    Aug 2003
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    See? This is the upside to being poor! I'm not affected!

    Ramen noodles and Mac & Cheese for the win!

    ok, so I may have to leave off the cheese if anything goes wonky with my company.

    But try taking my Mac away! Just try it!
    =====

    My youngest daughter thinks I've been around since the ark. She asked me one time what I went through during the Depression. (I'm 40!)

    I just told her that our family was too poor to know anything about it. We were perpetually depressed anyway and didn't notice the change.

  13. #13
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    Aug 2003
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    Historically, you will make more in the stock market than anywhere else. You just have to go with the flow and not panic and sell! It is just a loss on paper. I still don't like all of my losses; and I should follow my investments a little closer than I do...However, I have more than I ever would have had had I stuck my money in a saving account at the bank.

  14. #14
    Join Date
    Aug 2003
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    Quote Originally Posted by nanandjim View Post
    Historically, you will make more in the stock market than anywhere else. You just have to go with the flow and not panic and sell! It is just a loss on paper. I still don't like all of my losses; and I should follow my investments a little closer than I do...However, I have more than I ever would have had had I stuck my money in a saving account at the bank.
    Great advice. The stock market will come back. Here's an article I just found discussing what to do when the market's down.
    http://www.cnn.com/2008/LIVING/perso...2do/index.html

  15. #15
    Join Date
    Jun 2007
    Posts
    4,165
    would this fall under an economic current event?

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