View Full Version : The stock market
oil lp man
06-24-2012, 06:43 PM
Anybody ready to dump their 401K before the market drops 50%? What are your thoughts and insight?
06-25-2012, 06:16 AM
I only partake in our 401k at work to be "part of the team"..... Im thinking about withdrawling here in the next year or so....... but for now.....Im just leaving my money where it is.
I was doing pretty good a few years ago....as Im sure everyone was......and then all this mess started.....
I think its going to be a while before a working man with limited investment options is going to be making any good money again.
Unless you are willing to put some time and effort into researching and taking an active part in your investments.......which is something I unfortunately have been unable or unwilling to do.
I think people can do better than a 401k on their own...... Its just a plan to satisfy the ignorant..... make you feel like you are doing something smart..
06-25-2012, 06:28 AM
I pulled everything out of the market in 07, I haven't gained anything or lost. My brother Hired a management company to watch his and he has done well.
06-25-2012, 08:06 PM
as a person who has never had a 401k , and never will, i'm not placing any investment in the bank.
we had that economy scare a few years back and the FDIC send officers to each branch to approve withdrawls.
they told people to leave their money in , and everything is going to be ok.
that's the onbly warning you're going to get
i have a very small savings that i don't keep in the bank.
my mom lost money from her 401k and and older guy i worked with lost over 100k
any extra money i get i will invest in dirt-cheap property
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