401K

[TNHarley]

So, over the last year, I have lost 13K bucks. I lost 1K since last Monday.
I have stopped putting money into it.
I tried to withdrawl all i could so i could put it in something safe, but of course, the govt tells you to fuck off.
I tried to get a hardship and just save what I could, and they want receipts on home repairs.
Now, im just sitting here watching part of my retirement whither down to nothing.
WTF can i do? Am I missing something? Is there a way I can get all my money out of the market?
Am i just freaking out for no reason?

 

[TroglocratsRdumb]

Inflation is theft.

You Call It Inflation, I Call It Theft - Forbes​

You Call It Inflation, I Call It Theft

On my daughter's birthday, she received a crisp new $5 bill, which she promptly deposited in her piggy-bank. Never foregoing an opportunity to expound on free market principles, I warned about her susceptibility to a subtle means of theft even more devious than a burglar breaking in at night...

www.forbes.com

Published: Mar 03, 2011

Author: Bill Flax

Estimated Reading Time: 8 mins
Inflation essentially harms savers for the benefit of borrowers. Every dollar borrowed requires a dollar saved. The economy gains nothing by such mischief. Generally, borrowers aren't …

 

[basquebromance]

can't help ya there, bro. i'm not a big economist.

but all i know is Joe Biden's approval on the economy is like his teeth at night: UNDERWATER!

 

[rightwinger]

So, over the last year, I have lost 13K bucks. I lost 1K since last Monday.
I have stopped putting money into it.
I tried to withdrawl all i could so i could put it in something safe, but of course, the govt tells you to fuck off.
I tried to get a hardship and just save what I could, and they want receipts on home repairs.
Now, im just sitting here watching part of my retirement whither down to nothing.
WTF can i do? Am I missing something? Is there a way I can get all my money out of the market?
Am i just freaking out for no reason?

Sometimes you are damned if you do and damned if you don’t
Right now, there is no real safe investment that you will make money on

There is an argument to put your money into a down market assuming it will eventually go back up. Buy while it is cheap.

I plan to just ride it out

 

[basquebromance]

money is a good thing!

that's my advice!

 

[basquebromance]

https://www.nasdaq.com/articles/heres-why-harley-davidson-stock-plunged-today

 

[RodISHI]

Never put my trust in scams cooked up by investment groupies and banksters so no advice on that. I did think you could somehow roll over those 401K's into something different but can see where if possible the big players would have the government tell you to 'GFY' as they aren't really affected all that much.

 

[JackOfNoTrades]

So, over the last year, I have lost 13K bucks. I lost 1K since last Monday.
I have stopped putting money into it.
I tried to withdrawl all i could so i could put it in something safe, but of course, the govt tells you to fuck off.
I tried to get a hardship and just save what I could, and they want receipts on home repairs.
Now, im just sitting here watching part of my retirement whither down to nothing.
WTF can i do? Am I missing something? Is there a way I can get all my money out of the market?
Am i just freaking out for no reason?

Let it ride. The market will bounce back. You start moving money between funds right now and you're gonna lose even more.
When the market comes back, look at longer term strategies to mitigate your risk. It really depends on what age you are
and how close to retirement you are.

 

[Dont Taz Me Bro]

So, over the last year, I have lost 13K bucks. I lost 1K since last Monday.
I have stopped putting money into it.

Why? You're getting in on the cheap right now.

 

[TNHarley]

Why? You're getting in on the cheap right now.

Freaks me out the way i am losing money. I dont have that much in there so 1k dollars in a week is a lot. 13k in a year in a half is a lot.

 

[Anathema]

That’s why I don’t contribute to a 401K or other investment products. I prefer “hard” investments… weapons, ammo, food/water and survival products.

 

[RodISHI]

That’s why I don’t contribute to a 401K or other investment products. I prefer “hard” investments… weapons, ammo, food/water and survival products.

Real property; buy in the soon to come bubble crash. Resell when it gets up a lil' and hold the mortgages.

edit: First mortgage only with a down and take no second's for any reason.

 

[Anathema]

Real property buy in the soon to come bubble crash. Resell when it get's up a lil' and hold the mortgages

Not interested. Too many banks/lawyers involved and nowhere near liquid/mobile enough for my tastes.

Then again, I don’t actually expect to ever retire so I’m probably in a different situation than most folks.

 

[miketx]

So, over the last year, I have lost 13K bucks. I lost 1K since last Monday.
I have stopped putting money into it.
I tried to withdrawl all i could so i could put it in something safe, but of course, the govt tells you to fuck off.
I tried to get a hardship and just save what I could, and they want receipts on home repairs.
Now, im just sitting here watching part of my retirement whither down to nothing.
WTF can i do? Am I missing something? Is there a way I can get all my money out of the market?
Am i just freaking out for no reason?

Mine lost a third of its value under black jughead and almost to the day Trump was elected it turned around. Every stinking vile leftist said I was lying of course.

 

[WelfareQueen]

So, over the last year, I have lost 13K bucks. I lost 1K since last Monday.
I have stopped putting money into it.
I tried to withdrawl all i could so i could put it in something safe, but of course, the govt tells you to fuck off.
I tried to get a hardship and just save what I could, and they want receipts on home repairs.
Now, im just sitting here watching part of my retirement whither down to nothing.
WTF can i do? Am I missing something? Is there a way I can get all my money out of the market?
Am i just freaking out for no reason?

I pulled all my money out last May because I didn't trust Mr. Potato Head in the White House.

The move (and lack of trust in Biden) has saved me about $25,000. Always sell when a Dim enters the White House.

 

[AzogtheDefiler]

So, over the last year, I have lost 13K bucks. I lost 1K since last Monday.
I have stopped putting money into it.
I tried to withdrawl all i could so i could put it in something safe, but of course, the govt tells you to fuck off.
I tried to get a hardship and just save what I could, and they want receipts on home repairs.
Now, im just sitting here watching part of my retirement whither down to nothing.
WTF can i do? Am I missing something? Is there a way I can get all my money out of the market?
Am i just freaking out for no reason?

Dummy invest more while the market is down.

 

[Flopper]

So, over the last year, I have lost 13K bucks. I lost 1K since last Monday.
I have stopped putting money into it.
I tried to withdrawl all i could so i could put it in something safe, but of course, the govt tells you to fuck off.
I tried to get a hardship and just save what I could, and they want receipts on home repairs.
Now, im just sitting here watching part of my retirement whither down to nothing.
WTF can i do? Am I missing something? Is there a way I can get all my money out of the market?
Am i just freaking out for no reason?

If you're have a hardship that is a true emergency situation; that is you can't pay your mortgage or rent and face eviction, can't work and don't qualify for benefits, etc... then no you are not freaking out, apply for a 401K hardship withdrawal. Also some 401k's allow you to take a loan against your holding. If the reason you're seeking hardship withdrawal, is fear the market will go down further, then you are freaking out.

Bear markets are normal just as recessions are. We have had dozens of them and there has always been a recovery. It is also normal for people to put money into a bull market and decide to sell into a bear market believing they will never recoup their money.

I have been in the market for almost 60 years. I have seen bull and bear markets come and go. With every bear market, there are always those spreading beliefs that the market will not recovery and they have been wrong every time. Posts like yours are good to see because once weak investors are selling into a major market fall taking loses, the bottom will not be far off.

I admit that I have sold a few investments in bear market but I have maintained almost all my portfolio through bear and bull markets. If you are in the market long enough you will learn that dollar cost averaging over decades will net you big returns. You will be buying more shares when they are cheap during bear markets and less shares when they are expensive during bull markets.

 

[Flopper]

Never put my trust in scams cooked up by investment groupies and banksters so no advice on that. I did think you could somehow roll over those 401K's into something different but can see where if possible the big players would have the government tell you to 'GFY' as they aren't really affected all that much.

Yes, 401k's can be rolled over into other tax sheltered retirement plans but that depends on a number of factors and I don't think that would help TN. If TN is afraid of future loses he can trade his current investments for low risk ones within his 401K. That would forego future loses but would also forgo future gains when the market recovers.

 

[Flash]

So, over the last year, I have lost 13K bucks. I lost 1K since last Monday.
I have stopped putting money into it.
I tried to withdrawl all i could so i could put it in something safe, but of course, the govt tells you to fuck off.
I tried to get a hardship and just save what I could, and they want receipts on home repairs.
Now, im just sitting here watching part of my retirement whither down to nothing.
WTF can i do? Am I missing something? Is there a way I can get all my money out of the market?
Am i just freaking out for no reason?

President Potatohead is fucking this country seven ways to Sunday.

Only idiots voted for him.

 

[Flopper]

I pulled all my money out last May because I didn't trust Mr. Potato Head in the White House.

The move (and lack of trust in Biden) has saved me about $25,000. Always sell when a Dim enters the White House.

I have never paid much attention to market performance predictions based on presidents, party, alignment of the stars, groundhog day, or who won the super bowl, because once you know the outcome you can always find statistics that seem to have predicted that outcome, but they are not predictors but rather just statistics. However, if you believe political party determines the market performance, consider the following:

The average Republican administration since 1900 saw gains of 3.5% per year, while the Democrats saw gains of almost twice as much, at 6.7% per year.

“Since 1945, the S&P 500 has averaged an annual gain of 11.2% during years when Democrats controlled the White House well ahead of the 6.9% average gain under Republicans.”

How Presidential Elections Affect the Stock Market

Myths abound, but when it comes to your portfolio, it's not as simple as which party wins the White House.

www.kiplinger.com

U.S. economic performance by presidential party - Wikipedia

en.wikipedia.org