Don't check your 401(k)

**Natalie** · 10-09-2008, 07:10 PM

Don't check your 401(k).... the stock market went down 400 points today.

**AmyBoz** · 10-09-2008, 07:45 PM

Without using actual numbers, dh has lost almost half of his yearly salary from his 401k since this whole debacle began. Thank God we're still young, but still, it's a nail biter.

**RaineyDaye** · 10-09-2008, 08:08 PM

I can't help checking almost daily. It makes me ill. The only sort of good thing for me is that I moved almost 40% to money market funds in January. I have a spreadsheet that I can see how bad it would have been if I didn't move some of it out of stock mutual funds. But it is still bad. And I learned recently that money market funds can be devalued from the $1.00 basis by the fund company... I think it happened with one fund a few weeks ago.

**frugalbabe** · 10-09-2008, 08:19 PM

Tell me about it I just keep chanting "I'm buying low, I'm buying low" like a pp said thank goodness we are young but it still makes me feel queasy.

**starsapphire** · 10-09-2008, 09:37 PM

Correction: the Dow is down 679 points today.

**mom2three** · 10-09-2008, 09:43 PM

My LIRA (locked-in retirement account, I'm in Canada) has dropped ~30% in value!

**forHISglory** · 10-09-2008, 09:50 PM

I'm not as young as some of you all....... but I keep telling myself that I weathered similar free falls a couple times before in the past decades, and I'll do it again! Of course, nothing in my lifetime has been this big.....

**frugal-fannie** · 10-10-2008, 03:43 AM

I lost 50k the last time before 9/11 and I pulled out or I would have lost a lot more. Now I pull out after big runs up and wait till I think it has bottomed out. I don't agree with the lie they tell you that it will eventually come up. I am more into preserving capitol. I actually had started to buy back in but heard some possible warnings of a crash and pulled out after a small run upt. I have 100% in a money market in the 401k at 4.75% interest. I haven't lost anything but I think the market will get below 7000 so I will wait till then and then slowly start buying back. The market looks like it will be down and out. If Obama gets elected. I would guess 10 years for a recovery. I am buying gold after I get some of my debts paid up.

**Greebo** · 10-10-2008, 08:28 AM

Its all on sale, and wouldn't you know, I'm not buying...debt elimination first! :/

**McD** · 10-10-2008, 08:36 AM

Originally Posted by Greebo

Its all on sale, and wouldn't you know, I'm not buying...debt elimination first! :/

Me too!! It's driving me freakin' nuts to not be buying!!

**Natalie** · 10-10-2008, 09:13 AM

Originally Posted by frugal-fannie

I am buying gold after I get some of my debts paid up.

Buy a little gold now. ...or when the market bottoms out, then watch it's value go through the roof.

**nuisance26** · 10-10-2008, 09:28 AM

~Hubby finally checked his and it's down 40%. We still haven't dropped below the actual investment amounts we've contributed. I don't think about us losing money unless we actually lose our original contributions. We're still buying through dh's 401K. If nothing else, it's an interesting experiment. Maybe what we buy today will make up for the losses recently. Who knows.~