401K

J.A.B · May 6, 2009

Just opened my statement today :

uke:

Just thougth I would share that

JWP · May 6, 2009

You have to think about it like a friend told me that other day. " You haven't lost any money, until you decide to sell."

Just consider yourself investing in some cheap stock and leave it alone. You have 30 years before you retire anyway.

POSYJ · May 6, 2009

JWP said:
You have 30 years before you retire anyway.

At the rate my 401k is going more like 40 - that will put me at 78 :dblthumb:

bc · May 6, 2009

Funny thing about investments. If you lose money, you cannot claim a loss until you sell. However, if you make a profit, you have to pay taxes whether you sell or not. What's wrong with this picture?

jkh533 · May 6, 2009

bc said:
Funny thing about investments. If you lose money, you cannot claim a loss until you sell. However, if you make a profit, you have to pay taxes whether you sell or not. What's wrong with this picture?

Not correct, you don't pay taxes on retirement accounts until you draw it out.
People contributing to a retirement account now are buying CHEAP, more shares to increase when the market rebounds!!!!!

BamaTJ · May 6, 2009

401k is buying low now, it will offset the loses over time.

I put a few grand in stocks over the past several months. If you are investing for the long term you can make really good money. There are a lot of proven companies that are trading for uber cheap. I have made almost a 50% return and the stocks I bought are WAY undervalued still. Hoping to make enough to send my son to college. Companies in the financial market are getting killed, they will come back. I also took a gamble and bought some GM, cause I don't think the Gov will let them go.

muchado · May 6, 2009

I pulled the plug when things were a little tighter---but about to start contributing again. No reason not to. I have at least 40 years of workin before I retire unless for some reason I am able to retire early.

bc · May 6, 2009

jkh533 said:
Not correct, you don't pay taxes on retirement accounts until you draw it out.
People contributing to a retirement account now are buying CHEAP, more shares to increase when the market rebounds!!!!!

I didn't know that. I don't have a 401K. With my mutual funds I do get taxed.

jkh533 · May 7, 2009

bc said:
I didn't know that. I don't have a 401K. With my mutual funds I do get taxed.

Just like capital gains or losses on real estate, you don't pay taxes or claim losses until you sell.
I compare it to the cattle market, you still have a whole heard even if the market tanks! Go to the sale and increase your heard for when prices go back up, not to mention your cattle will have calfs (stock dividends that get reinvested) and you have even more to sell!

s10me · May 7, 2009

i would keep an eye on GM if they decide to file bankruptcy it is very possible that they will redistribute stock and you will be out what ever you invested. ???

BamaTJ · May 7, 2009

s10me said:
i would keep an eye on GM if they decide to file bankruptcy it is very possible that they will redistribute stock and you will be out what ever you invested. ???

That is the great thing about buying cheap stock. You don't invest much and get 100's of shares. I have a few hundred in GM, not much to lose, but the upside is huge if they can get turned around

CHASMAN9 · May 7, 2009

Matt O. said:
That is the great thing about buying cheap stock. You don't invest much and get 100's of shares. I have a few hundred in GM, not much to lose, but the upside is huge if they can get turned around

MattO, you could be the Iacocca for GM. :woot:

Cole · May 7, 2009

I decided to take the money I was putting in my 401k and make another investment. It's green and has 4 wheels :driving:

74_Chevota · May 7, 2009

Cole said:
I decided to take the money I was putting in my 401k and make another investment. It's green and has 4 wheels

My dad (who is a financial advisor at Wachovia) was reading over my shoulder and saw your post and said he wanted to bitch slap you for that statment. laughing1 He claimes a crack habbit is cheaper than this hobbie though.

GStone · May 7, 2009

Real estate it hasn't let me down yet..... if all else fails at least I've got something tangible.

BamaTJ · May 7, 2009

74_Chevota said:
My dad (who is a financial advisor at Wachovia) was reading over my shoulder and saw your post and said he wanted to bitch slap you for that statment. laughing1 He claimes a crack habbit is cheaper than this hobbie though.

He is probably right, this **** is spensive! Cole makes bad financial decisions this is a fact :flipoff1:

Cole · May 7, 2009

74_Chevota said:
My dad (who is a financial advisor at Wachovia) was reading over my shoulder and saw your post and said he wanted to bitch slap you for that statment. laughing1 He claimes a crack habbit is cheaper than this hobbie though.

Man im just kidding, I am still feeding the 401k and the Roth IRA.

HoodBoogie · May 7, 2009

Good ol' Government TSP here.. Buyin some stocks as soon as I save my pennies

74_Chevota · May 7, 2009

Cole said:
Man im just kidding, I am still feeding the 401k and the Roth IRA.

He/I were just giving you ****, i know you are better with money then most and actually have a real job. It seems like most of the kids at school with me dont even know what an IRA or 401k is these days. I feel like we are way ahead of the game compared some of these dipshits. Maybe its just my school. :dunno:

Cole · May 7, 2009

74_Chevota said:
He/I were just giving you ****, i know you are better with money then most and actually have a real job. It seems like most of the kids at school with me dont even know what an IRA or 401k is these days. I feel like we are way ahead of the game compared some of these dipshits. Maybe its just my school.

No your right, very few of my friends know anything about an IRA or 401k. They just live like there is no tomorrow.