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Retirement Plans


nWo
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I just checked my retirement plan. I also checked when the stockmarket dropped the other day. It has lost around $400 dollars so far this week. I'm not going to panic because it will rebound. To me panic is the worst thing we can do.

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I just checked my retirement plan. I also checked when the stockmarket dropped the other day. It has lost around $400 dollars so far this week. I'm not going to panic because it will rebound. To me panic is the worst thing we can do.

 

This is a scary thing. I believe ours is safe with the teachers retirement.

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If you only lost $400, you're one of the lucky ones. Many people have lost 10's of thousands.

 

We have since the high at the end of '07. Luckily we've got 10-15 years before we retire and 20 years before we would have to start taking distributions so we'll be fine.

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This is the time to be contributing to your retirement plan using perodic payments like payroll deduction. This is when dollar cost averaging really pays off. When you invest the same amount every two weeks (or however often you get paid) your contribution buys more when the market is down and less when the market is up.

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This is the time to be contributing to your retirement plan using perodic payments like payroll deduction. This is when dollar cost averaging really pays off. When you invest the same amount every two weeks (or however often you get paid) your contribution buys more when the market is down and less when the market is up.

 

:thumb:

 

Heed HHSDad, young people. Excellent advice.

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I'm down 36.2% as of today. However, I'm young and dont have a whole lot in there yet so I'm not too concerned.

I am not sure what you consider a whole lot. In terms of what I expect/hope to have I retire I don't have a whole lot in there. But in terms of $ I would say there is quite a bit. Based on what I have now versus what my high was this year I am down over $9000. :cry:

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I am not sure what you consider a whole lot. In terms of what I expect/hope to have I retire I don't have a whole lot in there. But in terms of $ I would say there is quite a bit. Based on what I have now versus what my high was this year I am down over $9000. :cry:

 

Well I'm fresh out of college and only have $5k total in my 401k.

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