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Old 03-10-2009, 01:52 PM
 
Location: Somewhere in America
12,304 posts, read 10,704,361 times
Reputation: 20540

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Quote:
Originally Posted by mullman View Post
15 years of real contributions or paper value from your all-time portfolio high?
15 years of contributions from paychecks and the funds "earned" on them. All that's left is less than 1 years contributions. We stopped putting into it because of the loses. Hubby's company has goofy policies about changes to the plan which make no sense to me since I thought it was a federally controlled thing.
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Old 03-10-2009, 01:58 PM
 
Location: Wouldn't you like to know?
9,114 posts, read 15,639,458 times
Reputation: 3689
Quote:
Originally Posted by ss20ts View Post
No, I'm saying 15 years worth of income is GONE. Hopefully, it will bounce back, but to make up 15 years worth of income is hard. It's not like we can double up to make up for the loss. We're also losing on the income that would have been made on the funds that were there. It's such a mess right now.

It's gotta get better soon!!!!!
I don't understand? How could 15 yrs of returns be gone?

Did you invest in a single company stock or something?
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Old 03-10-2009, 02:03 PM
 
Location: Somewhere in America
12,304 posts, read 10,704,361 times
Reputation: 20540
Quote:
I don't understand? How could 15 yrs of returns be gone?

Did you invest in a single company stock or something?
The 401K was divided into 5 different arenas. Most were stock based/fed. We are only allowed to make changes once a year. By the time we were allowed to make changes, most of it was gone. And it's just gotten worse. The Money Market portion also bombed. The Savings Account portion I believe the company got rid of and replaced with some stock thing. They change it a few times a year and we're not allowed to make changes except for once a year. It's stupid if you ask me!
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Old 03-10-2009, 02:03 PM
 
569 posts, read 1,221,421 times
Reputation: 543
Quote:
Originally Posted by mullman View Post
Maybe we hit bottom yesterday.
DOW up 300 - go baby go.

+1 on turning off the [bad] news - it inevitably becomes a self-fulfilling prophecy.

+1 for turning off the news. I myself tried this about two weeks ago. I have not followed the doom & gloom for a couple of weeks and I must say I feel much better overall about the situation. I think maybe everyone should try this and see if/how it changes thier outlooks. In this case ignorance was bliss.
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Old 03-10-2009, 02:13 PM
 
Location: Right where I want to be.
4,507 posts, read 8,008,762 times
Reputation: 3332
Quote:
Originally Posted by ss20ts View Post
15 years of contributions from paychecks and the funds "earned" on them. All that's left is less than 1 years contributions. We stopped putting into it because of the loses. Hubby's company has goofy policies about changes to the plan which make no sense to me since I thought it was a federally controlled thing.
Our 401K is down compared to our other investments (because of fewer choices and less flexibility) but still not losing as you describe. I'm not sure I quite understand what you are describing. You only have left what you put in in ONE year so the principle deposited over 15 years is gone? What on earth were you invested in, single stocks?
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Old 03-10-2009, 02:18 PM
 
Location: Wouldn't you like to know?
9,114 posts, read 15,639,458 times
Reputation: 3689
Quote:
Originally Posted by ss20ts View Post
The 401K was divided into 5 different arenas. Most were stock based/fed. We are only allowed to make changes once a year. By the time we were allowed to make changes, most of it was gone. And it's just gotten worse. The Money Market portion also bombed. The Savings Account portion I believe the company got rid of and replaced with some stock thing. They change it a few times a year and we're not allowed to make changes except for once a year. It's stupid if you ask me!
Maybe I'm not understanding the whole story.

Peak to trough the Dow has lost a little over 50%....

You sound like you lost 80-90%?
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Old 03-10-2009, 02:18 PM
 
7,104 posts, read 9,698,581 times
Reputation: 2564
I think she means she lost the equivalent of 14 years of monetary contributions(?)
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Old 03-10-2009, 02:22 PM
 
Location: Charlotte, NC
2,193 posts, read 4,535,191 times
Reputation: 1072
Quote:
Originally Posted by mullman View Post
Got source?
[and NOT Wikipedia...]
I believe I heard it here:

YouTube - Six Minutes with the Renegade Economist - Michael Hudson Special...

I can't listen to it again since I don't have speakers now. But it was definitely from Michael Hudson

I tried to find a text source also. I found this:
Why the “Miracle of Compound Interest” leads to Financial Crises - Michael Hudson - financial economist and historian (http://www.michael-hudson.com/articles/financial/070827CompoundInterestCrises.html - broken link)

I still have to finish reading it though. It's quite long and takes awhile to digest. Definitely not light reading to do before bed and after work lol.
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Old 03-10-2009, 02:28 PM
 
Location: Charlotte, NC
2,193 posts, read 4,535,191 times
Reputation: 1072
Quote:
Originally Posted by CouponJack View Post
I understand that people are extremely down on equities right now, however do you really believe that 20 years from now, stocks will be flat, or depressed from where they are now?
We could end up like Japan. Look at where they are at 19 years later after their housing bubble...
^N225: Basic Chart for NIKKEI 225 - Yahoo! Finance=
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Old 03-10-2009, 02:32 PM
 
Location: between here and there
1,030 posts, read 2,766,426 times
Reputation: 935
Quote:
Originally Posted by anifani821 View Post
If people who have the discretionary cash - and need to make a purchase - would just let go of the $$$ and do some "retail therapy," it would be the very best thing that could happen for our economy.

I frequent the Apple store myself as I am a MacAddict, fer shur. Have managed to dig up those $$$ for over 20 years now . . . quality is worth every penny!

There are still plenty of people out there w/ cash . . . and as long as people are spending within their means . . . then putting the money into circulation is a VERY GOOD THING.

But for people who are in that positon comes an almost "me next?" fear....hubbie and I have very stable jobs (education and food supplier) but we have pulled back on large purchases based on the news of "what's to come"

We shop sales, re-do instead of new and keep plugging along in the old jalopies....

My biggest fear is for my kids, all young adults, who are presently employed but 2 are in companies who have had layoffs.....and if they have no money or place to live, guess whose house they come aknocking at??? Walton's Mountain revisited!!!!!
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