I peeked

[LivingAlmostLarge]

Maybe, this one blog I read she is 60 and desperate to retire in 10 years. So she is 100% in stocks.

I've fortunately gotten 25 years to retirement.

[Broken Arrow]

Maybe, this one blog I read she is 60 and desperate to retire in 10 years. So she is 100% in stocks.

That's crazy. Upping your risk simply because you want to retire soon is not a sound investment strategy. For all we know, she can end up losing even more than what she currently has to work with.....

Ah, that reminds me of the time when this one guy literally bet all of his retirement and savings money on this one, single stock. AIG in fact. Yeah, he went around and blessed anybody who supported him or thought the stock was going to shoot through the roof, and cursed those who were against him or warned him of the dangers of the stock.

Good vibes can make all the difference, he said.

Lucky for him, the gamble paid off, because he had already lost much of his money because of this (more than 100k), by betting it all on single stocks like this. And now, he is desperate to catch up to where he started from.

[SavingGuru]

yeah it's never good - just like looking down if you're at a great height.

[snafu]

There is no rule that requires retirees to cash in their entire portfolio when they retire. They may need to lower their expenditures for awhile until the market recovers. I would guess they have been holding some of the stock for many years - before this latest mess.

[disneysteve]

There is no rule that requires retirees to cash in their entire portfolio when they retire.

There are required minimum distribution rules for certain accounts, though. I think one proposal that has been floated is to suspend the RMD rule so that retirees aren't forced to sell holdings that they don't need to sell while the market is down.

[nmboone]

I've peeked! I don't have nearly as much money in there as you guys (I'm 25 working at a part-time job while in school), but I was scared too! I was at $1600 earlier this year and it plummeted to a little over 1200. I looked today and it's now over 1300, so maybe something good's happening.

[LivingAlmostLarge]

the RMD rules have been suspended for now!

[Goldy1]

Over the past 10 years or so we are give or take EVEN when considering what we put into the acocunts. (who knows maybe down if I redid the numbers)

My logical mind says "ok if I had put all that money in a cd or high interest bank acocunt wouldn't I be better off?"

I know stock market is on sale...I am sick of it b/c every time a copan yhits a bump in the road or ANYTHING bad is in the economic news, it seems to plunge the market so with so MANY variables bringing it down, it is a scary time.

I havemoney to invest but I am too scared due to job situations. Why plnk down more cash into the market if I might need the cash to live even if it is 5 years from now or more.
I am doing ok but no confidence right now. I did buy a mere $250 into the market last week.

[Goldy1]

At least folks "close to reitrment" still have social security and medicare. I am taking this as a learning tool. I will be out of a lot of stocks close to retirement/older age. I never want total retirement.

I am talking to folks staying in thier jobs longer now due to market which does not free up jobs so well for us younger people.

Geez imagine if we have privitized social security. lol

[Inkstain82]

Over the past 10 years or so we are give or take EVEN when considering what we put into the acocunts. (who knows maybe down if I redid the numbers)

My logical mind says "ok if I had put all that money in a cd or high interest bank acocunt wouldn't I be better off?"

I know stock market is on sale...I am sick of it b/c every time a copan yhits a bump in the road or ANYTHING bad is in the economic news, it seems to plunge the market so with so MANY variables bringing it down, it is a scary time.

I havemoney to invest but I am too scared due to job situations. Why plnk down more cash into the market if I might need the cash to live even if it is 5 years from now or more.
I am doing ok but no confidence right now. I did buy a mere $250 into the market last week.

If you don't have enough cash saved up to live through any job hiccups (i.e. enough to cover your expenses for the longest period you could reasonably expect to be unemployed), you shouldn't be investing yet.

[GREENBACK]

I "peeked" again today. Down about 40%. I'm 10-15 years from retirement and I believe I'll recover. I noticed that I own a lot more shares now so that's a bright spot. Think I'll just count shares for now instead of their value. It's actually getting easier to look at my losses if that makes any sense.

[loulou]

I peeked at DH's 401k for the year, and we've lost 50%. We've lost every penny we've contributed for the year. Only the $9k we started and the $5k match is there. We've lost the $15k YTD.

Sigh. I haven't dared look at our IRAs. It's gotta be terrible as well I'm guessing. Have you peeked?

We're in the exact same boat. I looked a couple of months ago and our account balance is the same it was in December of 07. I haven't dared look since then.

[disneysteve]

I "peeked" again today. Down about 40%. I'm 10-15 years from retirement and I believe I'll recover. I noticed that I own a lot more shares now so that's a bright spot. Think I'll just count shares for now instead of their value. It's actually getting easier to look at my losses if that makes any sense.

We're in the exact same boat. I looked a couple of months ago and our account balance is the same it was in December of 07. I haven't dared look since then.

I think we are all in that boat together (which way is the buffet? ). As GREENBACK noted, though, if you have continued to contribute, you are holding more shares than you were a year ago. That means that your break-even point is lower since your average cost basis is lower. When the eventual recovery occurs, you'll be fine.

[Goldy1]

ok I am in the hole for 10 years of contributions, so how long to break even, til I retire? lol