HHorange

First time I was ever happy not to have enough money to play in the stock market......

GDZHHR

We're actually coming out ahead!

Had about 20k in an annuity that was losing money. Cleared it out and put it all on our new car loan, 7.25% interest. We'll get most of the required taxes back from an adoption tax credit we get, both state and federal.

So now instead of losing money AND paying 7.25% on 20K, we're now down to 7k left on the loan. When all is said and done we will come out way ahead.

c2vette

I pulled a loan out a year ago and stuck it in a CD, rest of my 401k was 50% MM 50% Equities, I am still down big time, but have moved to 80% equities as of yesterday, and paid my 401k loan back. Should be nice return in 5 years, but not planning on a smooth ride. In the meantime hunker down. My brother is a broker, and aside from using up a couple of bottles of antacids, he has clients with big cash positions that are lining up to buy stocks next week. Meanwhile the (justifiably) frightened folks are pulling money out and causing mutual fund redemptions at a pretty alarming rate. History shows they are unfortunately doing exactly the wrong thing for their longterm success.

c2vette

And aren't you glad that this happened before and not after you retired? You are young and have plenty of time to ride this out.

Airborne_Beachbum

Between two mutial funds and my Roth IRA, I'm down about 60%.

Old Lar

I retired in 2002 and started living off the IRAs in 2004 and was making money even while withdrawing funds. The IRAs are down 30% now and you cannot take money out of IRAs without paying the taxes on the money, although I could transfer the money to some low paying money market,

I suspect that the day traders are manipulating the market by the way the market is fluctuating so much.

Jeff®

If I had any money left to invest, I'd be buying right now while stocks are on sale. Remember, for every stock sold, someone buys one. Trouble is, when they're falling, it's like catching a falling knife.

AJochum

I have been hammered BIG time. Had a stock that was and is a fabulous stock until bottom fell out. Insurance company. Wonderfully run. Guess where they get their money to pay out losses - investments in the stock market. They like lots of insurance companies are out of money. It went from 70 to 15 since January. So, the question is: when do you buy more? How big are your ....?

Cokeybill

Sold all my stock last Feb. . Put it all in GICs(avg 3.78%), retirement is good for me and my latest decisions on not getting killed before the market slid into H...LL. When it's "up"... sell!!!! I still have a tidy sum that is connected in a fund but it is long term. My decision...15 yrs from now I'll take a peek and see what it is worth.
CEOs and execs have mutilated thier own Companies for years...this was coming for a long while now. Sorry for all those that got hit hard and got hurt, but I don't feel sorry for the greedy execs that got out of hand with their bonuses and parachutes(Looks good on them). Some of the execs get to such a psychotic state with greed and power that they think that they are indestructible.

Cokeybill

By the way it's not over yet. Wait til things calm down and all the sellers are done, then do some homework on good companies that are getting spanked for no reason. Look for the ones that really are good, GE is getting slapped for only having lower than expected 1/4. That does not justify their worth.