Black Monday?...What about Tuesday?

Hessian

Hessian

Well-Known Member
Allright: I just punched up my Annuity as of 1/1/08

I know the market fell near 9% since then.

We are on the brink of a nasty surprise tomorrow (1/22)

Now, seeing that I had 70K tied up in Annuities as of 1/1...anybody care to post losses after this week?

I bet I finish the week: with less than 55k. (And of course due to rules...I can't touch my money unless I give Uncle Sam 25%+ of it. So I am in a lose-lose situation.)

It took 3 years to make up for the losses of 9/11/01-3/02--How long will it take to make up for this mess?
Blame....
Loans to undeserving idiots?
Banks?
The Fed?
The Brits? (We did that in 1931)
Oil?



Who know's how to can garden vegitables?:whistle:
 
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aps45819

aps45819

24/7 Single Dad
Since it will be at least 10 years before I start hitting my 401K, any losses will be made up by the increased number of shares my contribution will be buying in the future.
The loss is only on paper :shrug:
 
vraiblonde

vraiblonde

Board Mommy
PREMO Member
Patron
My stocks are solid with no wildcards, so they're having a slight dip but nothing catastrophic.
 
cwo_ghwebb

cwo_ghwebb

No Use for Donk Twits
Just a paper loss, unless you're going to draw on it fairly soon. Most investments are there for the long haul and the market pretty much outperforms other, more risky investments. I'm too old to go chasing wild dreams at the moment, so I'll let my money sit where it is, it's pretty safe. I really don't plan on actually retiring ever. I'll keep working until my glasses get too heavy to wear.
 
CableChick

CableChick

Loved
some advice my wise dad sent me

"only stupid people follow the lemmings and sell long-term mutual funds when the market tanks. when they see things improving, they buy back in, meaning they sold low and bought high and did worse than a savings account in the local bank.

relatively young people, if they are smart and want to retire with some money, never watch the market on a day to day or even week to week or month to month basis.

in fact, when markets tank, people should be buying even more ... SALE PRICES!

yes, it may take five years for the markets to recover (AFTER they hit bottom); but unless one is 60 years old, so what?

the biggest single mistake unsophisticad investors make is to try to time the market ... to bail when everyone else bails; and buy when everyone else buys. THAT is a prescription for eventual poverty."
 
Hessian

Hessian

Well-Known Member
Since Halloween...

6400.00 in losses.

I suspect that malaise will linger for a while yet. This turbulent market will not calm down.

I suppose that if I had an annuity broker who actually cared about his clients, he would have zipped out some advice in the past week or so.
Yeah, commission sales matter: clients don't.

I couldn't believe the Fed slashed .75 in one emergency session-wow.

So who can help me decide?:
**Do I take advantage of the declining loan interest and take a loan on equity to do improvements to my vacation property OR

**Do I make every effort to pay off my mortgage (over 400.00 in 6.25 interest every month)

**Do I wait a few more months to decide?
 
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