I've Lost 18% of my retirement this week!!!

Pastor Keith · #1 10-08-2008, 01:00 PM

Due to the current financial crisis on Wall Street, I looked at my retirement account, as of today I have lost about 18% of it's value this week alone. I am glad that my retirement horizon is far off and have a longer time period to recover.

But I feel sorry for those that are currently seeking to retire or will so soon.

No wonder people are guiled into voting for Obama.

DividedThigh · #2 10-08-2008, 01:19 PM

the market is a nightmare right now, i see it trust me, but selling now is a mistake, dt

Digging4Truth · #3 10-08-2008, 01:20 PM

Mine is up a little.

I bailed out of the market over 6 months ago.

I hope there is a time of recovery for you... or bare minimum... this is the end of your losses...

My confidence is not high for either though.

DividedThigh · #4 10-08-2008, 01:23 PM

truth is long term this may be just a bump in the road, but the most important thing is to have a diversified portfolio, that mirrors the risk you are willing to take on my friend, dt

Michael Phelps · #5 10-08-2008, 01:50 PM

Quote:

Originally Posted by keith4him

Due to the current financial crisis on Wall Street, I looked at my retirement account, as of today I have lost about 18% of it's value this week alone. I am glad that my retirement horizon is far off and have a longer time period to recover.

But I feel sorry for those that are currently seeking to retire or will so soon.

No wonder people are guiled into voting for Obama.

I'm not even looking at mine.

The only good news about this situation is that at the end of each month, when I buy stocks, I get quite a few more for the same investment!

deltaguitar · #6 10-08-2008, 01:54 PM

I have lost 20% but I am not worried. I got in at the top of the dot com bubble and I don't expect this "crisis" to be any worse.

Ferd · #7 10-08-2008, 02:02 PM

dollar cost averaging into the market right now will make up those losses.

Pastor Keith · #8 10-08-2008, 02:08 PM

Quote:

Originally Posted by Ferd

dollar cost averaging into the market right now will make up those losses.

That is what I told a co-worker in my office, at least now, I can buy more of the shares at a lower price.

I really do feel sorry for older workers who want to retire and just saw a whole lot of money go bye bye!

Ferd · #9 10-08-2008, 02:43 PM

Quote:

Originally Posted by keith4him

That is what I told a co-worker in my office, at least now, I can buy more of the shares at a lower price.

I really do feel sorry for older workers who want to retire and just saw a whole lot of money go bye bye!

older workers should have been adjusting thier portfolio before they got older.

I know that isnt the nice way to put it, but really there is a forumla that everyone needs to reveiew annually.

deltaguitar · #10 10-08-2008, 02:09 PM

Quote:

Originally Posted by Ferd

dollar cost averaging into the market right now will make up those losses.

Right! But my company match went in a couple of months ago. I would think that right now would be a good time to make the year end IRA or 401K contributions.