I just got my 401k report for last year...

[TheMojoPin]

...and I wanted to sob big, gasping, snotty sobs.

Jesus Christ.

I know what I have saved away probably pales compared to a lot of people here, but between that and my mutual funds I lost around $12,000 last year.

I had almost nothing to begin with...make it stop!

Whats the damage others are facing here?

[BlackSpider]

I lost 15,000 in 3 months...

[Hottub]

IRA and personal funds...

Over 30 grand in the shitter.
I'll be working until I'm 90 at this rate.

I hope I can write off the losses on this year's tax returns.

[Gvac]

HAHAHAHAHAHAHAHAHAHA!!!!

You guys save money???

SUCKERS!!!!

[Hottub]

HAHAHAHAHAHAHAHAHAHA!!!!

You guys save money???

SUCKERS!!!!

Apparently, not any more.:annoyed:

[KatPw]

I've lost a good $20,000 last time I checked. My house value has gone down almost $100,000. Fucking a.

[midwestjeff]

When you ain't got nothing, you got nothin' to lose.

For once being a miserable, underachieving rambler has a monetary benefit.








Just kidding. I've lost 36 billion.

[KnoxHarrington]

I am redistributing the funds in my 401(k) to buy canned goods, bottled water, and ammo.

[drjoek]

Its one thing to be reasonably young and have the savings go into the shitter I can regrow the retirement money for the next bunch of years, but I have the inglorious honor of being at the point where, having scrimped and saved for 18 years to put my kids through college that when I need to spend it for tuition a big chunk of it has evaporated. Nothing sucks worse than being at the time you need it and its gone.

FUCK THIS

[biozombie]

yep, same here, mine's about 12 to 15 grand lighter than it was at the beginning of September...and I'm still thinking about cashing the fucker out.

[Gvac]

Within the next 5 years I think I'll have purged myself of all worldly possessions. That's when I plan on leaving society behind.

Keep working, scrimping, and saving you busy little worker ants!

AHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAH AHAH!!!!!!!!!!!!!!!!
AHAHAHAHAHAHAHAHAHAHAHAAHAHAHAHAHAHAHAHAHAHAHAHAHA HAHA!!!!!!!!!!!!!!!!

[Hottub]

And we all thank god you never procreated.

[drjoek]

Within the next 5 years I think I'll have purged myself of all worldly possessions. That's when I plan on leaving society behind.

Keep working, scrimping, and saving you busy little worker ants!

AHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAH AHAH!!!!!!!!!!!!!!!!
AHAHAHAHAHAHAHAHAHAHAHAAHAHAHAHAHAHAHAHAHAHAHAHAHA HAHA!!!!!!!!!!!!!!!!

http://www.memeticians.com/2008/01/26/pulp10807sk.jpg

Are you gonna walk the Earth like Cane from KungFu?

[biozombie]

I was gonna buy a kick ass motorcycle (and a neti pot) with my savings. We're gonna need some kick ass motorcycles after the apocalypse. That is, unless you already have one...

[EliSnow]

I lost about 40k.

[epo]

I don't worry about the money I've lost, rather I prefer to think of our current situation as "discount purchasing".

Our nation needs a man of my youth and charming good looks to stay in the workforce for quite some time anyways.

[Freakshow]

I am down 30%. But by my caclulations, i'm still up slightly over what i've put in (and what my company matched) so it wasn't money I really lost. But it would have been nice to not lose it...

[TheMojoPin]

Within the next 5 years I think I'll have purged myself of all worldly possessions. That's when I plan on leaving society behind.

Keep working, scrimping, and saving you busy little worker ants!

AHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAH AHAH!!!!!!!!!!!!!!!!
AHAHAHAHAHAHAHAHAHAHAHAAHAHAHAHAHAHAHAHAHAHAHAHAHA HAHA!!!!!!!!!!!!!!!!

5 years? Can't you hurry that up a little bit?

[TheMojoPin]

I am down 30%. But by my caclulations, i'm still up slightly over what i've put in (and what my company matched) so it wasn't money I really lost. But it would have been nice to not lose it...

That's a good way to look at it. It sucks to have lost what I've lost, but I still haven't dipped below what I've put in...I guess as it stands right now it's like if I went to Vegas for the weekend and I'm still above what I showed up with cash-wise.

[extracheese]

I too have been physically ill thinking about what happened to my savings.
I was the guy who saved all his money. Bought cheap cars, ordered Pizza and skipped the steak, rented tiny apts, and stayed at Motel 6s when my friends wanted to stay at the Hilton. I finally after many years put a chunk of money into savings - and in the past year it lost 40%.
$50,000 dollars of hard earned money i suffered to accumulate gone in a flash.

When i think of the things i could have done - and experienced i get sick.

Moral - live for today.

[biozombie]

...
Moral - live for today.

Get a kick ass motorcycle, and not one of those fruity Ninja sport bikes...

[lineman6924541]

I quit keeping count of how much money I lost after they quit sending me the letters letting me know how much I had lost.

[Alice S. Fuzzybutt]

Between my 401k, my IRA, and 3 other mutual funds I have, I'd say I'm in the hole by $45,000. :furious:

[Sarge]

My wife has lost about $24,000.00 in hers, thank god I have a pension.

[Badinia]

We've lost 25K this year- 15K in six weeks in mutual funds.

I also got an email from Zillow.com letting me know my house devalued 3K in a month.

Thanks. Thanks, Zillow.

It's OK though, I still have a LOT of my money invested in Beanie Babies.

http://www.aboutbeanies.com/images/original9/original9_group.jpg

Come on, Decade the Bear!

[Jughead]

I'm hoping my wife's pension is still there....NADART SUCKS MONKEY DICKS!!!!Oh well just standing outside on the lot when Im 70.... It won't be that bad:wallbash: Maybe I can get the band back together and play weddings:surrender:

[denko]

Within the next 5 years I think I'll have purged myself of all worldly possessions. That's when I plan on leaving society behind.




take me with you! i can play rythm guitar...


last time i checked... around november, i was down about 25%

[TripleSkeet]

I opened an IRA for me and my wife and college fund for my daughter this summer.

Right now the reitrement fund has lost $3000 from 10k and the college fund is down to $1800 from $3500.

Thank God Im planning on leaving that there for awhile.

[furie]

yeah, i lost just under 20k

[FezsAssistant]

and it got a lot worse today.

it will probably still get worse. the worst thing you can do in a recession is raise taxes and take money out of citizens hands. 8 years of that coming right up.

[TheMojoPin]

and it got a lot worse today.

it will probably still get worse. the worst thing you can do in a recession is raise taxes and take money out of citizens hands. 8 years of that coming right up.

Holy inaccurate statements, Batman!

Though I like that you just assume he's going to win a second term.

[Chip196]

I've lost a good $20,000 last time I checked. My house value has gone down almost $100,000. Fucking a.

The house thing is amazing ... my house is on the market right now for more than 30% less than it was just 3 years ago ... and I am praying someone buys it before we have to drop the price.

[Syd]

and it got a lot worse today.

it will probably still get worse. the worst thing you can do in a recession is raise taxes and take money out of citizens hands. 8 years of that coming right up.

yes you do, you increase government spending since in a recession, it's economics 101

[Gvac]

5 years? Can't you hurry that up a little bit?

Puh-leeze.

You would weep like a woman and wander the western world wondering where I am, wailing all the while.

[TheMojoPin]

Puh-leeze.

You would weep like a woman and wander the western world wondering where I am, wailing all the while.

I'll miss your alliteration least of all.

[Gvac]

I'll miss your alliteration least of all.

I don't believe that either.

Just admit your undying love, respect, and admiration for me.

[Tallman388]

Between my wife's and my 401ks there's probably 10K+ lost. It would have been worse but I moved everything into Fidelity's Money Market fund. It doesn't go up that much, but it sure doesn't go down. Unless Fidelity somehow screwed everything up and goes under. That would really blow.

[TheMojoPin]

I don't believe that either.

Just admit your undying love, respect, and admiration for me.

Not until you're about to leave.

Motivation to speed things up!

[Sinestro]

I had a 403 from my last job and lost half of what was in there when I left my job.

I opened a new one with my new job 3 months ago and I'm up $38 something bucks so far. I'm rich!!!

[Gvac]

Not until you're about to leave.

Motivation to speed things up!

Words hurt.

At least we'll always have our bi-curiosity and love of National League Baseball to unite us.

[TheMojoPin]

Words hurt.

At least we'll always have our bi-curiosity and love of National League Baseball to unite us.

I liked the idea posed in another thread of you and I becoming a news broadcast team.

Let's make it happen.

[Gvac]

I liked the idea posed in another thread of you and I becoming a news broadcast team.

Let's make it happen.

I'm in!

For about 5 years anyway.

[boosterp]

Thank goodness for my pension that will never go down, but will increase each year.

I lost $11k this past year, luckily it is better than I faired during 9/11. It is still quite painful figuring I was putting in 11% of my salary with employer matching 5%. That was a lot of money and I want it back. My IRA has experienced no growth and I am not exactly certain how much I lost.

[PapaBear]

This kind of thing is really bad for retired people like my father. At his age, he's required to cash in a certain number of stocks at the end of each year. So, even if the market goes back up, that money is lost forever. This year he lost $20,000.

[Tenbatsuzen]

I gotta be honest. If you're under 40 and you're still contributing, you really don't have a lot to worry about. Yes, it sucks. But the positive thing is this - think of the stock market having a 50% off sale right now.

[Fez4PrezN2008]

Lost 18% on mine in 2008, I had moved a lot into "safe" money market fund but left 30% in the S&P 500 index fund listening to advice of so called market experts saying ride it out and you are buying new shares at a good price, blah blah blah while each month it still took a sickening swoon and the rest in the "safe" fund earned a paultry <2% return which is really a loss since inflation was higher than that. Sickening. I was a believer in the market will right itself talk but now pretty gun shy.

[A.J.]

Whats the damage others are facing here?

I can't wait to see how "change" is going to affect me as a single man with no children, and with a Democratic President and Congress.

[Alice S. Fuzzybutt]

Oh, did I mention I had put about $3000 into my IRA around June? GONE plus principal! I could SO kick myself-- I could have used some of that money to pay off a credit card and socked the rest of it into a CD. DAMN IT DAMN IT DAMN IT!!!!!!! :wallbash:

[Alice S. Fuzzybutt]

I can't wait to see how "change" is going to affect me as a single man with no children, and with a Democratic President and Congress.

Just enjoy the cheap smokes for as long as you can.

[boosterp]

Oh, did I mention I had put about $3000 into my IRA around June? GONE plus principal! I could SO kick myself-- I could have used some of that money to pay off a credit card and socked the rest of it into a CD. DAMN IT DAMN IT DAMN IT!!!!!!! :wallbash:

I laugh and cry with you Petrina.

[Dude!]

This kind of thing is really bad for retired people like my father. At his age, he's required to cash in a certain number of stocks at the end of each year. So, even if the market goes back up, that money is lost forever. This year he lost $20,000.


i think i read that they have already changed the minimum distribution rules
as a result of the crash
to address the people in your father's boat

you might want to check that out

[PapaBear]

i think i read that they have already changed the minimum distribution rules
as a result of the crash
to address the people in your father's boat

you might want to check that out
If they did, it must not start until 2009. He had to take them out, and the money is gone. Kaput.

[mendyweiss]

Its one thing to be reasonably young and have the savings go into the shitter I can regrow the retirement money for the next bunch of years, but I have the inglorious honor of being at the point where, having scrimped and saved for 18 years to put my kids through college that when I need to spend it for tuition a big chunk of it has evaporated. Nothing sucks worse than being at the time you need it and its gone.

FUCK THIS

Mendy jr will will starting college in 2 years
I think he will be going to the University of Somalia (Lower tuition)
They have a great rifle shooting team, and their speed boat club is tops in the world
He will enjoy it there !!

[KatPw]

The house thing is amazing ... my house is on the market right now for more than 30% less than it was just 3 years ago ... and I am praying someone buys it before we have to drop the price.

I'll keep my fingers crossed for you. My boss's MIL just sold her place up in Westchester, took a $200,000 loss on it, but she couldn't physically handle the house anymore so she had no choice but to sell at a loss. The house was on the market for almost a year. Insane.

[boosterp]

Mendy jr will will starting college in 2 years
I think he will be going to the University of Somalia (Lower tuition)
They have a great rifle shooting team, and their speed boat club is tops in the world
He will enjoy it there !!

:lol::lol::lol:

[Chip196]

I'll keep my fingers crossed to you. My boss's MIL just sold her place up in Westchester, took a $200,000 loss on it, but she couldn't physically handle the house anymore so she had no choice but to sell at a loss. The house was on the market for almost a year. Insane.

Thanks ... we're defintely priced to sell so maybe we'll get lucky. We've had two interested parties, but both have their houses on the market and need sales before buying anything else. I shouldn't get discouraged either because it's only been one month on.

[Freitag]

i think i read that they have already changed the minimum distribution rules
as a result of the crash
to address the people in your father's boat

you might want to check that out

Don't minimum distributions vary from plan to plan?

[Recyclerz]

Shouldn't this be in The Confessional?

From 9/30/07 to 12/31/08 I'm about $225K lighter in my retirement accounts. I gotta confess, it stings a little.

ESD's financial strategies don't look quite as crazy anymore.

[Aggie]

I haven't lost as much as you guys but it's going on almost $10K.

I'm just praying money market accounts are still safe, if not, we need to get our down payment money out of it. I thought it was best because the interest was better than a CD or just a savings account but I don't want to lose a penny of that.

[misled]

...and I wanted to sob big, gasping, snotty sobs.

Jesus Christ.

I know what I have saved away probably pales compared to a lot of people here, but between that and my mutual funds I lost around $12,000 last year.

I had almost nothing to begin with...make it stop!

Whats the damage others are facing here?

i gain and lose that in a day. i gave up 135k so far and i know it's gonna b a slow trip back. glad i'm not 1 of the many who r at retirement age with a huge hole in their money bag!

[misled]

i think i read that they have already changed the minimum distribution rules
as a result of the crash
to address the people in your father's boat

you might want to check that out

i know 2 brothers who's dad left them 700k in GM stock till this market tanked. 1 of them is suicidal

[Jujubees2]

Down about 35K this year in my TIAA-CREF account.

Luckily I work for a school that gives dependents free tuition!

[Syd]

it hasn't happened in awhile, but a few money markets were in trouble and one tanked/needed to be bailed out in december of 07, slight heads up

[Recyclerz]

Bump.

As a warning to anybody who hasn't gotten or opened their January statements yet (hint: Don't!), or if there are any fans of schadenfreude out there, here's my latest update:

After a brief dead cat bounce upward in Dec., I'm down another $21K in January. :glurps:

I think I may inadvertently beat GVAC into shedding all my material goods on the road to enlightenment.

[Tenbatsuzen]

Bump.

As a warning to anybody who hasn't gotten or opened their January statements yet (hint: Don't!), or if there are any fans of schadenfreude out there, here's my latest update:

After a brief dead cat bounce upward in Dec., I'm down another $21K in January. :glurps:

I think I may inadvertently beat GVAC into shedding all my material goods on the road to enlightenment.

Wow... what is your diversifcation like?

I stay in my 401(k) because of the match... and there's been no rumblings that the match is being touched... we may lose bonuses and/or raises, but the match stays.

Trust me, if the match was gone, my money would go into cash REAL quick.

[K.C.]

I'm up $6.

...but that's because I robbed a hobo.

[Recyclerz]

I'm up $6.

...but that's because I robbed a hobo.

You should have gone after Foodcourtdruide - He's got $40 (http://www.ronfez.net/forums/showthread.php?t=77274)


Tenbats - I rolled over my 401(k) when I left my last job. My guy split it up across 3 managers (incl. Goldman Sachs) - they're all down over 40%. (General diversification: 80% stocks 20% bonds) Gee, I hope nope of the big shots have to take pay cuts with the new Obama rules. I'd hate to see what happened to my money in the hands of less talented managers. :wallbash:

[Gvac]

Bump.

As a warning to anybody who hasn't gotten or opened their January statements yet (hint: Don't!), or if there are any fans of schadenfreude out there, here's my latest update:

After a brief dead cat bounce upward in Dec., I'm down another $21K in January. :glurps:

I think I may inadvertently beat GVAC into shedding all my material goods on the road to enlightenment.

Then I'll meet you there!

We'll be happier...you'll see!

[Recyclerz]

Then I'll meet you there!

We'll be happier...you'll see!

You'd better be right. I'll be pretty cranky without my solid gold toilet.

[sailor]

You'd better be right. I'll be pretty cranky without my solid gold toilet.

goodbye, old friend.

http://claytoncounts.com/neato/mcmahon.jpg

[albo60s]

Unless you're retired & need the money to live, you have only lost percieved value in your retirement funds. Have any of you even figured out how much you actually put in over the years & how much you earned over that, which you still have??? Personally, having invested over 22 years on a consistent basis, I'm still way ahead.
Most of you have the time for the markets to come back. This is a buying opportunity for stocks. They are priced 40% less than they were a year ago. You're buying more shares now, you're buying more potential to make $ in the future!!!
I lost around 20% of my portfolio value, but I still invest because I can buy more shares of great companies at bargain prices. I have confidence that eventually the economy will rebound & these companies will make oodles of money for me!!!
Houses are a buying op too. Interest rates have never been lower in my lifetime ( I'm 57) & prices have dropped in some areas 40%. Remember back a couple years ago when housing affordability was a major issue? Not anymore!!!
Time is your friend. Does anyone remember what happened 20 years ago today??? Was the dow up or down? Was unemployment 5%, 7%????? Time mutes these ups & downs & it will again.
This is the time to have an investment plan & stick to it.
I also want to say that I strongly feel that having cash is a terrible mistake. Inflation is coming back in a big way. The government must devalue the debt its accumulating with these bailouts & inflation is how they will accomplish this. So buy stocks, property or precious metals to preserve your principle, or face losing even more of it than you already have!!!

[angrymissy]

I never started the contributions to my 401k. I'm starting it now hahaha GET IN AT THE BOTTOM I SAYS

[nate1000]

I am afraid to look- I just keep telling myself "It's not real if you don't sell" and thank god my investment horizon is way the F out there.

[Thebazile78]

I have both a 401(k) and a pension fund, both of which I am fully vested in.

Neither lost value this year, in fact my January statement seemed to indicate that my 401(k) grew, so I am waiting for my 1st quarter statement to see if this trend continues. If it doesn't, I think I may start calling my fund manager to discuss diversification options.

[foodcourtdruide]

You should have gone after Foodcourtdruide - He's got $40 (http://www.ronfez.net/forums/showthread.php?t=77274)





No, you don't want this curse. The $40 is a bad omen. It's sorta like my ring of power. Sure... $40... what CAN'T you do with it? However, the $40 (3 10 dollar bills and 2 5 dollar bills) has a mind of its own. It wants to get back to its former master, and unless I destroy it (which, in this case is give it to the police) it will betray me, likely to my death.

[Freitag]

I have both a 401(k) and a pension fund, both of which I am fully vested in.

Neither lost value this year, in fact my January statement seemed to indicate that my 401(k) grew, so I am waiting for my 1st quarter statement to see if this trend continues. If it doesn't, I think I may start calling my fund manager to discuss diversification options.

knowing the business DON'T YOU DARE TOUCH IT BEFORE YOU TALK TO ME

[Freitag]

I never started the contributions to my 401k. I'm starting it now hahaha GET IN AT THE BOTTOM I SAYS

This is actually a very smart move. Do you have a match with your company?

As I said before, optimistic investors basically see the current time as a "half-off" sale. The market seems to have stabilized (slightly) around 8000, so we'll see.

[Freitag]

Unless you're retired & need the money to live, you have only lost percieved value in your retirement funds. Have any of you even figured out how much you actually put in over the years & how much you earned over that, which you still have??? Personally, having invested over 22 years on a consistent basis, I'm still way ahead.
Most of you have the time for the markets to come back. This is a buying opportunity for stocks. They are priced 40% less than they were a year ago. You're buying more shares now, you're buying more potential to make $ in the future!!!
I lost around 20% of my portfolio value, but I still invest because I can buy more shares of great companies at bargain prices. I have confidence that eventually the economy will rebound & these companies will make oodles of money for me!!!
Houses are a buying op too. Interest rates have never been lower in my lifetime ( I'm 57) & prices have dropped in some areas 40%. Remember back a couple years ago when housing affordability was a major issue? Not anymore!!!
Time is your friend. Does anyone remember what happened 20 years ago today??? Was the dow up or down? Was unemployment 5%, 7%????? Time mutes these ups & downs & it will again.
This is the time to have an investment plan & stick to it.
I also want to say that I strongly feel that having cash is a terrible mistake. Inflation is coming back in a big way. The government must devalue the debt its accumulating with these bailouts & inflation is how they will accomplish this. So buy stocks, property or precious metals to preserve your principle, or face losing even more of it than you already have!!!

So... how long have you been a CFP?

[Thebazile78]

knowing the business DON'T YOU DARE TOUCH IT BEFORE YOU TALK TO ME

Jesus Christ, can you not yell at me?

That was un-called for.

[albo60s]

This is actually a very smart move. Do you have a match with your company?

As I said before, optimistic investors basically see the current time as a "half-off" sale. The market seems to have stabilized (slightly) around 8000, so we'll see.

Yup agree!
"Buy low, sell High"
Right now is the buy low part & many of you are going into your shells!!!!
Anyone who gets a company match should at the very least invest enough to get that!!!!

[albo60s]

So... how long have you been a CFP?


I'm a truck driver & also own some rental property.