note to self. this is not a good place to complain about breaking my hammer. lol
Well, it's my retirement. When the market drops, my 401K (well, "my" 401K) goes down with it.
I feel like I know about as much as you do about Wall St. But somewhere in there I think it has a fairly direct effect on what we pay for things. That's a gut feeling, darn sure not a fact.
Really? That's a majorly frightening shell game.The way I understand it basically ALL money is routed in/through the stock market in some way. The money you deposit in your bank isn't in your bank. It's in the stock market trying to make the bank more money. Maybe not a good analogy because your bank accounts are guaranteed up to $100,000 by the FDIC.
But if you have a company pension, it goes through the stock market. Your mortgage is linked.
Read Tom Clancy's "Debt of Honor" for a more detailed explanation.
Really? That's a majorly frightening shell game.
Really? That's a majorly frightening shell game.
I hope you're really, really near retirement. If not, you just fucked yourself. If you retire in 5, 10, 15 years, what happened today or a year from now doesn't really matter, except that you will be purchasing tons of stocks at a discounted rate before it's time to retire. You haven't "lost" anything if you don't sell, your stocks value is simply temporarily less than it was a month ago.It's gonna suck for a while. If I had money in 401k I would cash out. That's just me. I cashed out when the stock market was near 18000. I got skeered. Paying the taxes is better than losing the whole damn thing IMO.
Wrong, you haven't lost a nickle..not one, your 401k is the same as it ever was if you aren't cashing it out. Right now your portfolio is best measured in shares, not dollars. Dollars don't matter until you start drawing from it. Don't get caught up in the "i just lost $xxxx in my 401k nonsense.Yup, my 401k is getting raped right now. Lost $3500 since Friday.....
What does that mean? I hear it all the time, "making money in a down market." How? You sell it and then buy it back after it falls? If that's the case, though, aren't you precipitating the fall yourself? And doesn't that make the whole thing artificial?When big swings happen, you can make money all the way down and all the way up. It's a lot more fun than a steady bull market imo.