401k

Discussion in 'LOCAL OHIO TALK' started by hunted, Jan 21, 2009.

  1. hunted

    hunted New Member

    Messages:
    1,943
    State:
    washington court house,oh
    i got my statement yesterday.i am sssooo excited,i lost 2100 dollars last quarter alone.that makes close to 5000 this year.i should have probably fixed my elections quicker to guaranteed,but i didn't like a dummy.

    just a friendly reminder for anyone who can change their elections around and protect it til hopefully obama fixes it,lol

    disclaimer:i am not an expert,never will be and will never claim to be.follow my "wisdom" at your own expense,lol
     
  2. Blacky

    Blacky New Member

    Messages:
    10,351
    State:
    Philadelphia, P
    Almost $4,000 loss in mine.

    At least we are not like the older folks who are getting ready to retire. We havea chance that ours can get back to normal.
     

  3. smoothkip25

    smoothkip25 New Member

    Messages:
    1,320
    State:
    ohio
    I got mine also. I have mine spread out between alot of smaller to mid sized companies and I only have lost 1400.00 this year!!:smile2: Thanks guys for the post I dont feel as bad now!:wink:
     
  4. getthenet

    getthenet New Member

    Messages:
    264
    State:
    ohio
    i have put mine in fixed for a good while now corse im 48yrs old so it will be there it drawing 4.6 per cent int as of right now. id like to take a little out but only way they will let me is if im buying a house or have my hose about to be foreclosed wick im dont so i cant get to it .
     
  5. katfish ken

    katfish ken New Member

    Messages:
    4,092
    State:
    Paintsvill
    There has been a lot of money lost last year bye the working man that has a 401k.
     
  6. bw69r

    bw69r Well-Known Member

    Messages:
    7,816
    State:
    West Newton, PA
    lost over three quarters of mine.
     
  7. Desode

    Desode New Member

    Messages:
    185
    State:
    Ohio
    Yeah I have lost around $2000 myself. I don't see it getting any better. It looks like the government is getting bigger and thats bad news. The government has screwed up just about everything they have touched.

    For the life of me I don't understand why people think it can help? Thats just crazy. If Obama puts more taxes on companies where we all work, where going to all take even more of a beating. When you tax the people who make the jobs,it just hurts the employes and the consumers. Its been that way since the dawn of industry. History doesn't change it just repeats untill people learn from it.

    Sorry I don't mean to get political, Its just that I feel like I'm watching capitalism and all the wisdom of history both getting flushed down the toilet.

    Matt AKA DESODE
     
  8. x smokin joe

    x smokin joe Well-Known Member

    Messages:
    2,076
    State:
    Monclova,
    Name:
    Joe
    I'm not going to put a dollar amount in here, but according to my statements I have lost about 1/3 of my investments in the past year. It looks and sounds worse than it is. The amount I have actually lost is $0. If I sold the investments today it would be a loss. Since I'm not selling I haven't lost anything yet.
    There are several things you need to look at when figureing the losses. How much did the shares cost WHEN YOU BOUGHT THEM. That 1/3 loss from a year ago doesn't go back 20 years to the shares we bought at $1 apiece. A year ago those shares were $72 a share, today $48 a share. looking at a statement it looks like a loss over a year, however if you look at the long run you can see that I am way ahead.
    My point is a loss isn't always a loss when dealing with stocks.
     
  9. bluejay

    bluejay Well-Known Member

    Messages:
    8,493
    State:
    Napoleon, Mo.
    Good post there Joe. I'm retired and (misplaced) 1/3 of mine also. Last month I actually gained some back. It will be alright as soon as America is rebuilt!! LOL
     
  10. hunted

    hunted New Member

    Messages:
    1,943
    State:
    washington court house,oh
    your right joe,i haven't cashed in on them.looking throught the whole year,i have lost 5000 out of my account,which makes it look bad,and makes me cringe.
    i know what you are saying,hopefully,it will jump back up where it was before when this crap hole gets straightened out.
     
  11. flathunter

    flathunter New Member

    Messages:
    5,723
    State:
    Ohio
    I dont have one, I will have to work till i die.
     
  12. slimdaddy

    slimdaddy Well-Known Member

    Messages:
    2,600
    State:
    Nelsonville, Oh
    Name:
    Keith
    ive only been in it for a year now and i lost 200 bucks
     
  13. Phoneman53

    Phoneman53 New Member

    Messages:
    189
    State:
    Olivet, Kansas,
    I have only in about a year also and drppoed a grand. Projection had me at 60 per cent of reaching my goal, but now down to 45 per cent. Guess will have to work 5 extra years too make it,,,,
     
  14. catfishscotty

    catfishscotty Well-Known Member

    Messages:
    4,388
    State:
    mo

    even if your in a 401k you will work until the day you die !!!!! you will never be able to comfortably retire the best you will do is pay off your house , kids college, or buy a new car and health insurance .

    401k are a joke

    when regan broke the unions good pention plans for most of us died . for 30 years and out on good retirement.

    now you have a 401k that people around 30 years old have to wait until 70 + years old to use it . what a joke !!!!!!!!!

    if you try to pull your money out early you lose big time gain nothing infact may lose money !!!!

    i say invest it yourself in guns, gold , ect or just bury it in the back yard .

    just like putting money in a CD right now at a bank lmao whats the point !!!! pay your taxes on it you gained allmost nothing .

    the best thing i can see to do right now is pay off your house as soon as possible and your debts . instead of paying interest . you will be money ahead ... just my opinion :wink:
     
  15. Hoopie

    Hoopie New Member

    Messages:
    818
    State:
    Ohio
    I guess I'm one of the lucky ones.I'm a memeber of laborer's union and we still have the 30 and out with a good pension. But I still have 20 years to go till I can retire a lot can change by then.We will have to wait and see.
     
  16. katkiller77

    katkiller77 New Member

    Messages:
    1,549
    State:
    dayton ohio
    read Revelations you will see why rick
     
  17. catfishrollo

    catfishrollo New Member

    Messages:
    6,894
    State:
    Ohio
    pay off the house and debts! AMEN! You are right, thats a big issue right now...rollo
     
  18. hunted

    hunted New Member

    Messages:
    1,943
    State:
    washington court house,oh
    yep,i am working on what debts i have so i don't have to worry about them hopefully before long.
     
  19. katfish ken

    katfish ken New Member

    Messages:
    4,092
    State:
    Paintsvill
    I can pull my 401k at 59 1/2 yrs.old but at the rate of loss last year, I'll end up having to pay to close the account.:crazy::eek:oooh::roll_eyes:
     
  20. Desode

    Desode New Member

    Messages:
    185
    State:
    Ohio
    Your right about getting out of debt, thats the best thing I think you can do. Thank heavens I cleared up all of my debt back in the good days at the steel mill. Then Billy "BJ" Clinton killed just about every steel mill from here to pittsburg with the free trade crap. My old man told me "get rid of all your debt while the money is good" . It wasn't easy though , the guys I worked with were all buying new trucks and I kept driving my clunker, but I'm out of debt now and their in bad shape.
    I agree that guns are a good investment right now in these strange days.

    I was actually hoping to maybe get one of Obama's infrastructure jobs, then I saw this crap and just about threw up ! from the shock of what I was hearing and seeing.

    http://www.youtube.com/watch?v=opxuUj6vFa4&feature=channel_page

    Maybe I'm taking this wrong but it sounded really bad to me. Sounds like I can't get one of these jobs because of my skin color. Am I hearing this right ?
    Matt AKA DESODE