401k sham

[Anonymous]

Dow 13,000 may be fooling some, but it’s not fooling us. The Dow is going down to 3,300.

 

[Anonymous]

the 401k fool is back!

 

[Anonymous]

I've watched my 401 K turn into a "201 K" several times in my carreer. I've lost ten years in gains overnight and held on when other sold out to watch the value come back. I don't doubt that more crashes will occur. The old problem is what to do with my money. Put it into safe funds that protect my money at no intrest? or put it at risk in the market where it can grow?
Warren Buffet says if you buy a stock you should be able to hold it for ten years. I guess the question comes down to how old you are and can you wait for the market to come back should it crash? To each his own.

 

[Anonymous]

I've watched my 401 K turn into a "201 K" several times in my carreer. I've lost ten years in gains overnight and held on when other sold out to watch the value come back. I don't doubt that more crashes will occur. The old problem is what to do with my money. Put it into safe funds that protect my money at no intrest? or put it at risk in the market where it can grow?
Warren Buffet says if you buy a stock you should be able to hold it for ten years. I guess the question comes down to how old you are and can you wait for the market to come back should it crash? To each his own.

So why not short the market and make huge amounts of money if you are so sure about this?

 

[Anonymous]

So why not short the market and make huge amounts of money if you are so sure about this?

If I was "so sure about this" then you are right I would short the market. But I'm not sure about this or anything else when it comes to the market. All I know is that in the last ten year we've had two drops of over 50% in value and that everytime my stock values return they drop again.
My broker and I are working on a retirement plan. Unfortunately, it's his!

 

[Anonymous]

Market down today, what about that 401k!

 

[Anonymous]

If I was "so sure about this" then you are right I would short the market. But I'm not sure about this or anything else when it comes to the market. All I know is that in the last ten year we've had two drops of over 50% in value and that everytime my stock values return they drop again.
My broker and I are working on a retirement plan. Unfortunately, it's his!

+1

 

[Anonymous]

I've watched my 401 K turn into a "201 K" several times in my carreer. I've lost ten years in gains overnight and held on when other sold out to watch the value come back. I don't doubt that more crashes will occur. The old problem is what to do with my money. Put it into safe funds that protect my money at no intrest? or put it at risk in the market where it can grow?
Warren Buffet says if you buy a stock you should be able to hold it for ten years. I guess the question comes down to how old you are and can you wait for the market to come back should it crash? To each his own.

Wow, sensible advice on CP, what's next....

 

[Anonymous]

Just got the "generous" company contribution to my 401K today. Unfortunately it is nowhere near the amount I would have gotten in the pension plan if BMS had not frozen our years of service.

I have 27 years with the company and I'm 56 years old. Credit for an additional year of service would have netted me about $60,000. The 401K contribution was $14,000.

Hey, I am very fortunate to even have a pension in today's workplace - but don't send me an email describing the "generous" contribution to my 401K when you took away much more in the pension.

 

[Anonymous]

Just got the "generous" company contribution to my 401K today. Unfortunately it is nowhere near the amount I would have gotten in the pension plan if BMS had not frozen our years of service.

I have 27 years with the company and I'm 56 years old. Credit for an additional year of service would have netted me about $60,000. The 401K contribution was $14,000.

Hey, I am very fortunate to even have a pension in today's workplace - but don't send me an email describing the "generous" contribution to my 401K when you took away much more in the pension.

Suck it up, all these pension changes made BIG BUCKS for Corny and now Lamberto. They deserve it!