Eek! Stock market mess hits home

Discussion in 'Economy' started by Ravi, Oct 9, 2008.

  1. Ravi
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    Ravi Diamond Member

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    My daughter's college fund lost $2,600 in September.

    :(
     
  2. MasTequila
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    MasTequila Member

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    My 401k is off 26%, I just upped my input to the max.
     
  3. Ravi
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    Ravi Diamond Member

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    I upped my long terms, but the college fund isn't something that I'm in for the long term.
     
  4. Valerie
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    Valerie Gold Member

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    Thank God I sold every holding in my retirement account a year ago and I am holding all cash right now. The writing has been on the wall for a while.

    Ravi, depending on your daughter's age, at this point I would just hold on!
     
  5. manifold
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    manifold Diamond Member

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    College isn't worth the money anymore anyway. Do the math, for most it's a negative IRR investment. Oh wait, you can't do the math. Nevermind. :D
     
    Last edited: Oct 9, 2008
  6. Ravi
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    Ravi Diamond Member

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    I know, not much else I can do. I'm certainly not going to cash it in at a loss and pay taxes on it at this point.

    Maybe I can encourage her to wait an extra twenty years to go to college and by then it will have bounced back.
     
  7. Valerie
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    Valerie Gold Member

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    No doubt the cost of a college education is outrageous, but that degree is the ticket to a higher paying job as well as an otherwise more worthwhile career.
     
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  8. KMAN
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    KMAN Senior Member

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    I'm sorry to get political but if you think it's bad now look at the survey I posted a few minutes ago... When the corporations get taxed more I can't see how that's going to help the market/people's 401k.
     
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  9. AllieBaba
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    AllieBaba BANNED

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    Encourage her to go into welding.

    Those ppl make mega $$, and if we ever start our industries up again, she'll never want for jobs, anywhere.
     
  10. manifold
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    manifold Diamond Member

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    That's the perception, but if you do the math, it's really not as true as you think. How much incremental pay and for how long does it take to generate a positive return on ~ $200K invested and 4 years of lost wages?
     

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