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View Diary: “I know more... and the Truth is worse” UPDATE: Doolittle in more trouble. (155 comments)

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  •  401k (8+ / 0-)

    company matching funds as incentive to add more of your own...great but what if you have no faith in the short term future of the market.  IE: you saw the implosion of 2001/2002 coming and you want to sit out of the market...you get hit on taking money out of your 401k.
    I know a lot of people who lost 30% or more...but they really don't have the choice to sit outside of the game without penalties.
    I cringe at fund manager salaries not just ceo's.

    Trade deficits matter. Why would you quit your job to buy a trinket for a few dollars less? Guess what, its not your choice anymore.

    by FreeTradeIsYourEpitaph on Thu Apr 19, 2007 at 07:55:58 AM PDT

    [ Parent ]

    •  The only thing to do. . . (4+ / 0-)

      . . .with a 401k in times like that is to move the money into whatever "low-risk" fund they offer. There's usually something with a name like "Stable Value", designed for people who are nearing retirement, and aren't looking for much of a return.

      I could have weathered 2001 fine if I'd followed the above advice. Sadly, I quit work in 2000, and rolled my 401k out into an individual IRA. Again, if I'd just left it in the money market, or put a bunch of it into boring funds, I'd have been fine. What did I do? I put it all into individual stocks, and lost about 1/2 of the (admittedly inflated) value. . .

      Live and learn.

      What would Gandhi do? "The cause of liberty becomes a mockery if the price to be paid is the wholesale destruction of those who are to enjoy liberty."

      by Robespierrette on Thu Apr 19, 2007 at 09:48:08 AM PDT

      [ Parent ]

    •  A four for.. (0+ / 0-)

      Your handle.
      The comment was pretty good, too.

      The media are only as liberal as the conservative businesses that own them.

      by MTgirl on Thu Apr 19, 2007 at 11:25:54 AM PDT

      [ Parent ]

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