Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
401K is the biggest rip off in history. They got everyone to give up their guaranteed pensions for the chance to make it big in the stock market. It is a suckers game and guess who gets to be the sucker. The banks will survive and when they recover you won't be there
I moved to cash at DJIA 25,000 and waited and waited and waited.
Planning to re-align around 20-21K.
Which might be today, the way things are going. Haha. J/K, the circuit breakers mean I'll have to wait until at least Wednesday.
If you have cashed out on 401k, chances are you took a major loss on top of that you would have to pay the early withdrawal penalty and tax you would have to pay to cash out. 4 months from now market will be better than what it is and that is when regrets kick in.
I moved to cash at DJIA 25,000 and waited and waited and waited.
Planning to re-align around 20-21K.
Which might be today, the way things are going. Haha. J/K, the circuit breakers mean I'll have to wait until at least Wednesday.
If you have cashed out on 401k, chances are you took a major loss on top of that you would have to pay the early withdrawal penalty and tax you would have to pay to cash out. 4 months from now market will be better than what it is and that is when regrets kick in.
You can park it in a money market mutual fund without chasing out and it effectively does the same thing to protect it from market volatility.
Although if you sell now and the market rebounds soon, you will get crushed.
If you sell and it drops much farther, you better get back in or you really gained nothing or even lose something.
401K is the biggest rip off in history. They got everyone to give up their guaranteed pensions for the chance to make it big in the stock market. It is a suckers game and guess who gets to be the sucker. The banks will survive and when they recover you won't be there
I didn’t have a guaranteed pension option and that doesn’t make 401ks a ripoff. 401ks are great vehicles that enable your average American their best opportunity to build wealth over the long run
401K is the biggest rip off in history. They got everyone to give up their guaranteed pensions for the chance to make it big in the stock market. It is a suckers game and guess who gets to be the sucker. The banks will survive and when they recover you won't be there
Daym, why only come out now? Must be feeling great for you looking at your 401K prior to this?
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
