Discussion in 'Economy' started by Ravi, Oct 9, 2008.
My daughter's college fund lost $2,600 in September.
My 401k is off 26%, I just upped my input to the max.
I upped my long terms, but the college fund isn't something that I'm in for the long term.
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!
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.
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.
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.
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.
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.
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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