Retirement accounts have lost $2 trillion so far

[strandinthewind]

Originally Posted by GoS

That is only one of the great many reasons. My grandmother voted for Bush. Not once, twice. She has been a Republican for most of her life. Now, she can't stand McSame, and not just because she had me as a propaganda machine in her ear. If Obama is winning over massive amounts of people (which he is!) like this, McCain stands no chance.

I agree.

And, I was for the Bush tax cuts because at the time we were entering into a relatively small recession caused by the collapse of the dot com companies, Enron, etc. All of that was due to deregulation. In other words, a dot com stock would go public and reach $200 a share on speculation - it was speculation because the company's earnings (if any) could in no way support that price in the conventional price models. People were riding the wave and it crashed hard. But, we could afford to quell that crisis with rebate checks and tax cuts, which , again provided a spark to light the economy. Sadly, W and McCain then went hell bent and leather bound into Iraq based on a lie and we are still paying for it. We did not need to go into Iraq and we could not really pay for it at that time, much less now. Now, McCain wants to keep up that insane spending and if anyone dares to talk against it by mentioning that maybe it's time for Iraq to spend its billions taking care of itself, they are "raising the white flag of surrender" wink wink.

Now, let's see how many hard working Americans we can fu*k over by deregulating the health care industry, because history demonstrates less government oversight always helps the common man

I mean please

[David]

I lost 17 percent in my IRA from July to now.

[strandinthewind]

Originally Posted by David

I lost 17 percent in my IRA from July to now.

OUCH!!!!!!!!!!!!!! That's gotta smart.

And, ordinarily, I'd say keep buying because you are betting more shares for a cheaper price and then you add the current tax free and current deduction advantage. But, I do not think many people will have the money this year to put into an IRA or other retirement program. Moreover, it would talk nads of steel to put money in the market right now. But, considering all th variables, at some point you have to get back in. Of course, in theory, when you get to be our age, you don't have the time to make the required money much less recover from the 17% loss.

[David]

OH MY GOD TODAY WAS A DISASTER!!

I don't think I'm going to retire until I'm 92.

[SteveMacD]

See, this is why I never bothered getting into the whole IRA thing. I've just been putting money in a regular savings account...BADLY at that. My goal is to party while I'm young and live off the dole when I retire. Subsidized housing + Social Security + Medicare + Medicaid + meals on wheels = good to go.

[GypsySorcerer]

Can you imagine how awful things would be if Bush had gotten his way and privatized Social Security?

[SuzeQuze]

Originally Posted by SteveMacD

See, this is why I never bothered getting into the whole IRA thing. I've just been putting money in a regular savings account...BADLY at that. My goal is to party while I'm young and live off the dole when I retire. Subsidized housing + Social Security + Medicare + Medicaid + meals on wheels = good to go.

Word. I'm currently living in my 401k which I liquidated to buy my condo. I saw this coming although it came faster than I expected. I don't know what it will do to the value of this place though. I bought it on foreclosure so it was well under market in April. Time will tell.

[estranged4life]

is odd is how Oklahoma is definitely showing what Forbes magazine predicted was true in the current ecomonical times for this state, and that would be this state is the most recession-proof in the US. I didn't believe that story when it was first published, but maybe it is true after all.

According to local news reports Oklahomans arent losing their retirement accounts like others on the East/West coasts. Oklahoma major financial institutions have zero interests with those on the coasts - and the housing market here is not a bust, but on the rise. Employment is unaffected, but there is a rise in jobs in the energy sector (Specifically wind energy and natural gas). Add to that the average price for a gallon of gas is less $3.00 statewide (I've seen plenty of places between $2.50-$2.77 a gallon)

I checked my retirement fund, and it is unaffected by the current financial stupidity going on in this country, and like all the men in my family, I will either work until I die or die before I retire.

[gldstwmn]

Originally Posted by SuzeQuze

Word. I'm currently living in my 401k which I liquidated to buy my condo. I saw this coming although it came faster than I expected. I don't know what it will do to the value of this place though. I bought it on foreclosure so it was well under market in April. Time will tell.

Hopefully you'll do okay on the condo. I don't think housing prices have hit anywhere near bottom yet though. Tey haven't in my area.

[chiliD]

Originally Posted by David

I lost 17 percent in my IRA from July to now.

My 403(b) has lost 41.30% YTD. ALMOST HALF!!!

And, it's down 15% just in the last 10 days.