[Total Heckler]

Hahaha you can see the dreams being crushed...

http://brokershandsontheirfacesblog.tumblr.com/

In all honesty, I do feel bad for some people losing so much money. Did any of you monkeys get a kick in the pants financially when this started?

 

[mandown]

i made the mistake of opening my 401k statement. 22% loss so far this year.
i also lost enough in some other "play" investments that i won't be buying as many bike parts for a while. f'd up.

 

[BurlyShirley]

i made the mistake of opening my 401k statement. 22% loss so far this year.
i also lost enough in some other "play" investments that i won't be buying as many bike parts for a while. f'd up.

Suddenly your username is painfully accurate :biggrin:

Sucks though. Good thing I had the foresight to just spend all my money.

 

[stosh]

I took my money out of my 401k to buy my house in June. We got a good price ont he house and while the market has dropped we haven't lost any money on the house. If the money was in my 401k I would have lost a ton because it was in all aggressive accounts.

 

[TN]

I lost 4k.

Luckily I am young-ish & have plenty of time before retirement.

 

[laura]

plenty of time before retirement.

Heck yeah we do, at this rate we've got 70 years before we can think about retiring.

 

[Total Heckler]

I am starting to invest my money and time into a 401Keg plan. But with better beer of course.

 

[TN]

If the money was in my 401k I would have lost a ton because it was in all aggressive accounts.

Mine is allocated aggressively but being young there is plenty of time to recover. This is just a dip (being optimistic) in the ups & downs of the market.

If the new president (like they both plan to do) relaxes the taxes & penalties for getting into your 401k the only way I would consider it is to buy a home & a chuck of land.

 

[stinkyboy]

Even her bra collapsed.

 

[stosh]

Mine is allocated aggressively but being young there is plenty of time to recover. This is just a dip (being optimistic) in the ups & downs of the market.

If the new president (like they both plan to do) relaxes the taxes & penalties for getting into your 401k the only way I would consider it is to buy a home & a chuck of land.

Think about the fact that you wouldn't have puke covered snow piles. Might not be such a good idea.

 

[stosh]

Even her bra collapsed.

Thats just a dude who lost a lot of weight.

 

[TN]

thats Just A Dude Who Lost A Lot Of Weight.

Bwahahahahahaha!!!

 

[TN]

Think about the fact that you wouldn't have puke covered snow piles. Might not be such a good idea.

Screw the penalties I need to make a withdrawal!!

 

[Total Heckler]

I think my favorite besides the dude who lost a lot of weight is the face punching one...

 

[ire]

I guess he should have sold sooner...

 

[stoney]

I've been relatively unscathed as I got out months ago, but I have a few names that are down 50%+. If you follow the threads in PNW, there's a lot of discussion going on already. Now is the time to ramp up contributions to your 401k's and funds, as everything is cheap. I still believe it will go down a substantial amount more, but it allows you to dollar cost average at increasingly lower prices.

Now you buy, when people think the world is ending. Sell when everyone thinks it will go up forever.

 

[Prettym1k3]

The wife and I only have a little money is a general savings account at Wells Fargo (thank goodness it wasn't WaMu). And her 401k is in good shape because we invest in very, very safe investments. We actually made like $30.00 over the past few months. Haha...

I have a profit sharing plan through the law office I work at, but unfortunately, it was invested in some stuff at WaMu and since has lost a piss load of money. But it was going might well considering that I only contribute like $10 a month to it.

 

[SkaredShtles]

The wife and I only have a little money is a general savings account at Wells Fargo (thank goodness it wasn't WaMu).

Why? You do realize that accounts are insured, correct?

 

[Prettym1k3]

Why? You do realize that accounts are insured, correct?

I worked at Wells Fargo for a while. FDIC Insurance does nothing for you.

Yes, they cover up to $100,000, and yes, they will pay you back. But, they can take up to 10 years to pay you back, and they don't have to give you a dime until the end of that 10 years. Maybe this has changed, but when I worked at Wells Fargo about 5 years ago, this information wasn't something they wanted their personal bankers to tell customers.

In other words, not factoring in the piss-poor market we're in, at an average inflation rate of 3.0% per year if you get your $100,000 back in 10 years, the government might as well have stolen, give or take, about 30k from you.

Not to mention the loss of investment on that money that you should have had.

 

[SkaredShtles]

I worked at Wells Fargo for a while. FDIC Insurance does nothing for you.

Yes, they cover up to $100,000, and yes, they will pay you back. But, they can take up to 10 years to pay you back, and they don't have to give you a dime until the end of that 10 years. Maybe this has changed, but when I worked at Wells Fargo about 5 years ago, this information wasn't something they wanted their personal bankers to tell customers.

In other words, not factoring in the piss-poor market we're in, at an average inflation rate of 3.0% per year if you get your $100,000 back in 10 years, the government might as well have stolen, give or take, about 30k from you.

Not to mention the loss of investment on that money that you should have had.

If this is true... it's frikkin' classic.

I'm starting to get a bit skeptical of what you're claiming. From the FDIC website:

When can I expect to receive my money?
Federal law requires the FDIC to make payments of insured deposits "as soon as possible" upon the failure of an insured institution. While every bank failure is unique, there are standard policies and procedures that the FDIC follows in making deposit insurance payments. It is the FDIC's goal to make deposit insurance payments within two business day of the failure of the insured institution.

 

[skinny mike]

my dad sounded fairly relieved today when i told him today that i want to transfer to a school that's about $15,000 cheaper per year. i believe my college fund actually fluctuates a bit with the market, so cheaper is certainly better at this point.

 

[Jeremy R]

Even her bra collapsed.

Does your tits hang low.....
when the market drops so low.....
Are they really sagging down......
when your funds are not sound......
Do they lay down in your lap.....
when the Dow takes a crap.....

Does your tits haanng looooow?!

 

[stoney]

All my funds are in Wamu. There was no break in service. I actually get better ATM coverage now, as I can go to chase ATM's now.

 

[chicodude]

my dad sounded fairly relieved today when i told him today that i want to transfer to a school that's about $15,000 cheaper per year. i believe my college fund actually fluctuates a bit with the market, so cheaper is certainly better at this point.

It must be nice...

 

[Crashby]

I also think we have the potential for more down... Dow 6500-7000 should be a lock at some point.

I made it through this downturn pretty well... because of my heavy weighting in real estate, my net worth is only down about 10% YTD. I live in upstate NY where the home values still have not declined.

I bought about 5 grand worth of silver (SLV) under $10 this week for my Roth IRA... There are some deflationary pressures now, but long term inflation should be a lock with how our guv-ment is printing money. At that point, you should see precious metals soar. At these levels a 30-40% return in the next 18-24 months is a pretty sure bet.

 

[Sherpa]

I also think we have the potential for more down... Dow 6500-7000 should be a lock at some point.

I made it through this downturn pretty well... because of my heavy weighting in real estate, my net worth is only down about 10% YTD. I live in upstate NY where the home values still have not declined.

I bought about 5 grand worth of silver (SLV) under $10 this week for my Roth IRA... There are some deflationary pressures now, but long term inflation should be a lock with how our guv-ment is printing money. At that point, you should see precious metals soar. At these levels a 30-40% return in the next 18-24 months is a pretty sure bet.

If the market hits 6500 intraday or closes below 7000, I'll send you a $20. Seriously.

 

[Toshi]

i'm down 38.5% on the year. i didn't get in until july, however, so i'm personally not down that much.

am i concerned? no. if the market (and my corresponding aggressive funds) haven't recovered by the time i retire then i have bigger things to worry about than 1s and 0s in an electronic account. until i'll pay less taxes by virtue of pre-tax contributions and will continue to live within my means.

 

[Crashby]

If the market hits 6500 intraday or closes below 7000, I'll send you a $20. Seriously.

*hint* look at the long term (40 yr) trend channel.


... believe me, I hope I'm wrong.

 

[Sherpa]

*hint* look at the long term (40 yr) trend channel.


... believe me, I hope I'm wrong.

I've looked......

 

[stoney]

If the market hits 6500 intraday or closes below 7000, I'll send you a $20. Seriously.

Nobody offers me this when I called it a month ago... wtf?

 

[pigboy]

Nobody offers me this when I called it a month ago... wtf?

prehistoric squirrel avatars don't get no respect. I'm tellin' you.

 

[Prettym1k3]

If this is true... it's frikkin' classic.

I'm starting to get a bit skeptical of what you're claiming. From the FDIC website:

When can I expect to receive my money?
Federal law requires the FDIC to make payments of insured deposits "as soon as possible" upon the failure of an insured institution. While every bank failure is unique, there are standard policies and procedures that the FDIC follows in making deposit insurance payments. It is the FDIC's goal to make deposit insurance payments within two business day of the failure of the insured institution.

What the government says they "plan" to do, and what they actually do are quite different. We all know this.

 

[johnbryanpeters]

i made the mistake of opening my 401k statement. 22% loss so far this year.
i also lost enough in some other "play" investments that i won't be buying as many bike parts for a while. f'd up.

Your 401K "losses" are nothing but numbers on paper until the point at which you cash in. Wait it out.

 

[Crashby]

If the market hits 6500 intraday or closes below 7000, I'll send you a $20. Seriously.

Ohhhh so close...

I am actually seeing some positives after today that might signal some significant bottoming in here...
next week should be the tell... I exited my primary short positions today that I have held over the past couple months.

Hope everyone made it to this point ok...

 

[jimmydean]

I'm half temped to buy some GM stock just because I can with the change in my ashtray.

 

[Brian HCM#1]

Thats just a dude who lost a lot of weight.

No, that's just a hippie who is lost.

 

[ire]

I'm half temped to buy some GM stock just because I can with the change in my ashtray.

If that's your criteria look into XM-Sirius

 

[Austin Bike]

What the government says they "plan" to do, and what they actually do are quite different. We all know this.

FDIC pays out a lot quicker than 10 years. It isn't like an ATM but most of their money is paid out relatively quickly. The ten year line is floating around the internet but it is not true.

http://www.snopes.com/business/bank/fdic.asp

 

[JohnE]

In response to the OP, I am down 80G since this mess started. But liek JBP said, its just on paper...so far.

Everyone I have talked to says by 3d quarter next year, things will be looking up. I havent sold any plasma or sperm yet. But I did volunteer to be a donor at the sperm bank.

 

[I Are Baboon]

My 403B *was* six figures...now it's closer to zero. Meh, whatever...ups and downs, ups and downs. I've still got 30+ years of working ahead of me. It all evens out.