So, my 401k got raped this quarter - GoFuckYourself.com

bronco67 · 01-30-2009, 10:40 PM

I know this is one of the wildest boards around, and is generally a rogue's gallery. But I also notice that there's some pretty smart people who post here. Business smart and financially smart -- with more than a layman's knowledge of the market.

My 401k has been taking a beating since the middle of last year, but I almost puked when I opened up my statement today, to see the subtraction of $12,000 in one quarter. That's a pretty sizeable chunk, considering there was only about $60,000 left.

So now that I'm in the hole for over 25 grand in the last last few months, I realize that if I sweat it out, there probably won't be anything left by the time it's all done. I know some of you probably make that much in a month, but its a lot of money to me.

Anyone have any non-specific suggestions about how to move the money, and where to get it somewhere safe? I don't care if it stagnates, I just can't take these giant hits anymore. I'd be willing to listen to some of the folks wiser than myself about these matters, before I speak with the planner involved with my 401k.

Yes, I'm asking for (general) financial advice at GFY.

JakeR · 01-30-2009, 10:43 PM

You don't pull the money right now.

LeRoy · 01-30-2009, 11:04 PM

Wow thats rough. I'll be gettin that statement soon too. Just love to get fucked for putting money away.

JakeR · 01-30-2009, 11:11 PM

http://www.csmonitor.com/2009/0130/p09s02-coop.html

icymelon · 01-31-2009, 12:15 AM

nows a good time if you have money to put it into a retirement or any account with a longer time horizon. the key is to dollar cost average.

I have been watching oil prices. if it hits 30 a barrel i want to load up on USO. eventually oil prices will hit 150 again. thats a huge return I dont think your going to match that in stocks.

but look at GE for example. I believe your return over 10 years will be huge at todays price even if the market goes lower.

spunkmaster · 01-31-2009, 02:32 AM

Back in 2000 I lost $160,000 and cashed out with $40,000. If I held fast and
didn't panic the $160,000 I lost would have went up to 1.5 Million by 2008.

Hold fast and hang on they will go back up some day and you didn't lose anything until you cashed out!

Reak AGV · 01-31-2009, 03:34 AM

Dont pull the money just yet.

Shaze · 01-31-2009, 03:50 AM

you could leave it in your 401k and just move the money more into bonds and treasuries if your scared of losing anymore and your invested in a lot of stock. but since most stock is really low right now there isn't much more down it can go, except of course if our economy totally goes down the shitter and we go into a depression. if you stuck it out this long and won't be retiring anytime soon just keep it in stock. when the economy rebounds and according to history it usually does stocks is where you will make the most returns, not in bonds and treasuries, those investments are more to keep the current balance in your 401k stable and since your current balance already went down the toilet doesn't really make much sense to do it this way.

woj · 01-31-2009, 09:19 AM

buy low, sell high is how it's done...

only suckers sell low... if anything now is the time to buy more...

ManHuntSteve · 01-31-2009, 01:06 PM

At the peak of the home-buying frenzy, I took all my 401(k) money and funneled it into a money-market. Been very happy with that decision. Yeah, it's getting a whopping 1% interest, but that's better than say, losing 50%.

bronco67 · 01-31-2009, 03:12 PM

Thanks for the advice so far...

I forgot to mention that its all in Mutual funds. The way things are going, I really have concerns that I will be wiped out before things take a turn for the better. I'd just like to get into something stable until this shit blows over.

I'd rather be left with something collecting 1% interest, than to lose everything.

Iron Fist · 01-31-2009, 03:22 PM

Cash out and then you can have the heart attack...

and be called a stupid idiot for doing so as well.

Michaelious · 01-31-2009, 03:22 PM

The economy is exceedingly terrible

collegeboobies · 01-31-2009, 03:23 PM

GOLD bars

jigga · 01-31-2009, 03:46 PM

Buy some SRS and hold it for another parabolic rise. Hold on to it untill it breaks the trendline. Commercial Real Estate is going to really come undone in the near future, in my opinion.

ERY is another steroid type ETF that could pay off big time since oil companies are still too high.

The trick with all these leveraged ETF's is to get out on parabolic rises otherwise you will get slaughtered on the bounces.

On another note, I don't think we've bottomed yet. Too many people calling bottoms and still no reason to get long other than for quick trades. That being said, once CNBC throws in the towel and everyone that's on predicts the death of the market, that's the time to buy. Do not EVER listen to anybody on CNBC for investment advice, that network is comical.

* Don't blame me if this don't come to fruition and you end up broke.

jigga · 01-31-2009, 03:50 PM

Just reat that you are in Mutual Funds. They're all garbage and so last decade.

ETF's are where it's at these days. Much lower fees % and you have MUCH more wiggle room. No holding periods or any of that crap.

Plus, you can hedge yourself using the downside etf's.

TyroneGoldberg · 01-31-2009, 06:05 PM

cash out now. the shit is about to bottom out soon.

IllTestYourGirls · 01-31-2009, 06:08 PM

tony286 · 01-31-2009, 09:05 PM

hold and it will comeback

01-30-2009, 10:40 PM	#1
bronco67 Too lazy to set a custom title Join Date: Dec 2006 Posts: 29,032	So, my 401k got raped this quarter I know this is one of the wildest boards around, and is generally a rogue's gallery. But I also notice that there's some pretty smart people who post here. Business smart and financially smart -- with more than a layman's knowledge of the market. My 401k has been taking a beating since the middle of last year, but I almost puked when I opened up my statement today, to see the subtraction of $12,000 in one quarter. That's a pretty sizeable chunk, considering there was only about $60,000 left. So now that I'm in the hole for over 25 grand in the last last few months, I realize that if I sweat it out, there probably won't be anything left by the time it's all done. I know some of you probably make that much in a month, but its a lot of money to me. Anyone have any non-specific suggestions about how to move the money, and where to get it somewhere safe? I don't care if it stagnates, I just can't take these giant hits anymore. I'd be willing to listen to some of the folks wiser than myself about these matters, before I speak with the planner involved with my 401k. Yes, I'm asking for (general) financial advice at GFY. __________________ Last edited by bronco67; 01-30-2009 at 10:41 PM..

01-30-2009, 10:43 PM	#2
JakeR Confirmed User Join Date: Jun 2001 Location: il and nc Posts: 1,760	You don't pull the money right now. __________________ Adult Merchant Accounts & Chargeback Management Solutions Domestic & Offshore icq: 152-058-005

01-30-2009, 11:04 PM	#3
LeRoy Porn Pusher Industry Role: Join Date: Jul 2007 Location: It's a dry heat Posts: 13,349	Wow thats rough. I'll be gettin that statement soon too. Just love to get fucked for putting money away. __________________ JAPANESE CAMS AND CONTENT SITES Teams - leroy.rowland2 Telegram - @lroddd

01-30-2009, 11:11 PM	#4
JakeR Confirmed User Join Date: Jun 2001 Location: il and nc Posts: 1,760	http://www.csmonitor.com/2009/0130/p09s02-coop.html __________________ Adult Merchant Accounts & Chargeback Management Solutions Domestic & Offshore icq: 152-058-005

01-31-2009, 12:15 AM	#5
icymelon Confirmed User Industry Role: Join Date: Dec 2007 Location: Las Vegas Posts: 3,220	nows a good time if you have money to put it into a retirement or any account with a longer time horizon. the key is to dollar cost average. I have been watching oil prices. if it hits 30 a barrel i want to load up on USO. eventually oil prices will hit 150 again. thats a huge return I dont think your going to match that in stocks. but look at GE for example. I believe your return over 10 years will be huge at todays price even if the market goes lower. __________________ Network Of Adult Blogs With Hardlink Rentals Available

01-31-2009, 02:32 AM	#6
spunkmaster Confirmed User Join Date: Jan 2004 Posts: 2,052	Back in 2000 I lost $160,000 and cashed out with $40,000. If I held fast and didn't panic the $160,000 I lost would have went up to 1.5 Million by 2008. Hold fast and hang on they will go back up some day and you didn't lose anything until you cashed out! __________________

01-31-2009, 03:34 AM	#7
Reak AGV Confirmed User Join Date: Dec 2004 Location: Unknown Posts: 4,283	Dont pull the money just yet. __________________ Need Mainstream Content and SEO? SEO * Website Copy * Blogs Blogging - PR Work - Forum Marketing - Social Marketing - Link building - Articles 100% Guaranteed Content!

01-31-2009, 03:50 AM	#8
Shaze Confirmed User Join Date: Oct 2003 Location: Cyberspace Posts: 2,662	you could leave it in your 401k and just move the money more into bonds and treasuries if your scared of losing anymore and your invested in a lot of stock. but since most stock is really low right now there isn't much more down it can go, except of course if our economy totally goes down the shitter and we go into a depression. if you stuck it out this long and won't be retiring anytime soon just keep it in stock. when the economy rebounds and according to history it usually does stocks is where you will make the most returns, not in bonds and treasuries, those investments are more to keep the current balance in your 401k stable and since your current balance already went down the toilet doesn't really make much sense to do it this way. __________________ Adult Search Engine Japanese Porn Thai Porn

01-31-2009, 09:19 AM	#9
woj <&(©¿©)&> Industry Role: Join Date: Jul 2002 Location: Chicago Posts: 47,882	buy low, sell high is how it's done... only suckers sell low... if anything now is the time to buy more... __________________ Custom Software Development, email: woj#at#wojfun#.#com to discuss details or skype: wojl2000 or gchat: wojfun or telegram: wojl2000 Affiliate program tools: Hosted Galleries Manager Banner Manager Video Manager Wordpress Affiliate Plugin Pic/Movie of the Day Fansign Generator Zip Manager

01-31-2009, 01:06 PM	#10
ManHuntSteve Confirmed User Industry Role: Join Date: Apr 2008 Posts: 147	At the peak of the home-buying frenzy, I took all my 401(k) money and funneled it into a money-market. Been very happy with that decision. Yeah, it's getting a whopping 1% interest, but that's better than say, losing 50%. __________________ Affiliate Manager - Manhunt/On The Hunt/Maverick Men We have Amateur Gay Porn and Gay Virgin Porn steve [at thingy] onthehunt ICQ: 296-582-153

01-31-2009, 03:12 PM	#11
bronco67 Too lazy to set a custom title Join Date: Dec 2006 Posts: 29,032	Thanks for the advice so far... I forgot to mention that its all in Mutual funds. The way things are going, I really have concerns that I will be wiped out before things take a turn for the better. I'd just like to get into something stable until this shit blows over. I'd rather be left with something collecting 1% interest, than to lose everything. __________________

01-31-2009, 03:22 PM	#12
Iron Fist Too lazy to set a custom title Join Date: Dec 2006 Posts: 23,400	Cash out and then you can have the heart attack... and be called a stupid idiot for doing so as well. __________________ i like waffles

01-31-2009, 03:22 PM	#13
Michaelious Confirmed User Join Date: Jan 2004 Location: Scotland Posts: 6,720	The economy is exceedingly terrible __________________

01-31-2009, 03:23 PM	#14
collegeboobies So Fucking Banned Join Date: Jul 2004 Posts: 3,644	GOLD bars

01-31-2009, 03:46 PM	#15
jigga Confirmed User Join Date: May 2001 Location: Canada Posts: 302	Buy some SRS and hold it for another parabolic rise. Hold on to it untill it breaks the trendline. Commercial Real Estate is going to really come undone in the near future, in my opinion. ERY is another steroid type ETF that could pay off big time since oil companies are still too high. The trick with all these leveraged ETF's is to get out on parabolic rises otherwise you will get slaughtered on the bounces. On another note, I don't think we've bottomed yet. Too many people calling bottoms and still no reason to get long other than for quick trades. That being said, once CNBC throws in the towel and everyone that's on predicts the death of the market, that's the time to buy. Do not EVER listen to anybody on CNBC for investment advice, that network is comical. * Don't blame me if this don't come to fruition and you end up broke.

01-31-2009, 03:50 PM	#16
jigga Confirmed User Join Date: May 2001 Location: Canada Posts: 302	Just reat that you are in Mutual Funds. They're all garbage and so last decade. ETF's are where it's at these days. Much lower fees % and you have MUCH more wiggle room. No holding periods or any of that crap. Plus, you can hedge yourself using the downside etf's.

01-31-2009, 06:05 PM	#17
TyroneGoldberg Confirmed User Join Date: Sep 2007 Posts: 1,081	cash out now. the shit is about to bottom out soon.

01-31-2009, 06:08 PM	#18
IllTestYourGirls Ah My Balls Industry Role: Join Date: Feb 2007 Location: Under the gold leaf ICQ 388-454-421 Posts: 14,311	__________________

01-31-2009, 09:05 PM	#19
tony286 lurker Industry Role: Join Date: Aug 2002 Location: atlanta Posts: 57,021	hold and it will comeback