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#3186632 - 03/07/13 04:48 PM Stock Market
7mminatree
6 Point


Registered: 01/12/12
Posts: 501
Loc: Unicoi Tn.

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I've been thinking about the 401K lately. It's been making some money. I just don't trust things here lately, Stocks going up like they are kinda worries me. A lot of wealthy holders are selling off. I took a big hit back in the 90's and lost a good amount of cash. If that happend again I couldn't make it back up at my age (59). Thought about pulling some out but I'm perplexed. How's everyone else felling these days.
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#3186642 - 03/07/13 04:59 PM Re: Stock Market [Re: 7mminatree]
WGK
WILD BILL
12 Point


Registered: 02/18/12
Posts: 6073
Loc: loudon

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I pulled out completely 2 weeks ago. That may have been to drastic a move but I am 57 and I don't want to take a huge hit.
_________________________
William G Kollock

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#3186647 - 03/07/13 05:03 PM Re: Stock Market [Re: 7mminatree]
WMAn
8 Point


Registered: 11/05/10
Posts: 1191
Loc: Williamson County

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You tell me which tree to climb on opening day to kill a boone and crockett buck, and I'll tell you what the stock markets going to do. What are the chances we will both be wrong?

You should invest based on your situation not what the markets did in 08/09 or are about to do now. The bigger question is how much risk can you take and how much risk should you take?

When do you plan to retire?
Are you on track to have enough saved?
_________________________
I am a financial planner for couples who are too busy or don't know where to start. http://cumberlandwealthplanners.com/

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#3186650 - 03/07/13 05:05 PM Re: Stock Market [Re: WGK]
WMAn
8 Point


Registered: 11/05/10
Posts: 1191
Loc: Williamson County

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 Originally Posted By: WGK
I pulled out completely 2 weeks ago. That may have been to drastic a move but I am 57 and I don't want to take a huge hit.


This is why the fall of pensions and rise of the 401k is a great opportunity turned into a terrible reality for most employees.
_________________________
I am a financial planner for couples who are too busy or don't know where to start. http://cumberlandwealthplanners.com/

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#3186668 - 03/07/13 05:29 PM Re: Stock Market [Re: WMAn]
Hunter 257W
10 Point


Registered: 10/04/12
Posts: 2869
Loc: Franklin County

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I just pulled my 401K out of stocks. The market has made a good run the last few years and seems to be at about the peak that it can sustain. I'm 52 and not willing to take the hit that I did in 2001 and 2008. When a ballon is bulging, don't poke it.
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#3186669 - 03/07/13 05:33 PM Re: Stock Market [Re: WGK]
leader
16 Point


Registered: 08/10/06
Posts: 10367
Loc: Knox

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 Originally Posted By: WGK
I pulled out completely 2 weeks ago. That may have been to drastic a move but I am 57 and I don't want to take a huge hit.



You pulled out completely? Was there a penalty or did you reinvest somewhere else????

Really just curious....
_________________________
THE ONLY DUMB QUESTIONS ARE THOSE NEVER ASKED!

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#3186670 - 03/07/13 05:36 PM Re: Stock Market [Re: leader]
Bowdacious
Vicious Broomdriver
16 Point


Registered: 09/01/00
Posts: 15876
Loc: over here

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Being that close to retirement, i would move my money into more stable funds. You don't have the luxury of 10 years to build it back up.
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Disagreeing with me doesn't make me any less right

Beware the skillet -----O

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#3186724 - 03/07/13 06:26 PM Re: Stock Market [Re: Bowdacious]
leader
16 Point


Registered: 08/10/06
Posts: 10367
Loc: Knox

Offline
Hey Bow, I was over here, I meen over there , I meen I'm not sure what I meen but I passed LC exit today \:\)
_________________________
THE ONLY DUMB QUESTIONS ARE THOSE NEVER ASKED!

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#3187079 - 03/08/13 05:06 AM Re: Stock Market [Re: leader]
7mminatree
6 Point


Registered: 01/12/12
Posts: 501
Loc: Unicoi Tn.

Offline
The wife would like me to get it out and go ahead a pay off our land. I'm just not sure yet. I'm not going to retire, there is no way. I gotta have a reason to get out of bed. I'm going to find another line of work that's not as demanding as what I'm doing now. I could always take some out and pay myself back with interest.
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#3187253 - 03/08/13 08:53 AM Re: Stock Market [Re: 7mminatree]
WGK
WILD BILL
12 Point


Registered: 02/18/12
Posts: 6073
Loc: loudon

Offline
Leader,When I said I pulled out I meant out of stocks. Just moved to safer investments.

Edited by WGK (03/08/13 08:55 AM)
_________________________
William G Kollock

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#3187381 - 03/08/13 11:20 AM Re: Stock Market [Re: WGK]
89cherokeelimited
6 Point


Registered: 08/13/11
Posts: 822
Loc: TN, Sumner, Hendersonville

Offline
I'm only 25 and I pulled mine and now I have a ROTH IRA that gains a small %.
Our companies financial adviser released that a lot of stocks are sky rocketing like they did a few years ago then just plunge to rock bottom.
I pulled mine out and invested in my ROTH and some savings accounts.
_________________________
It has become appallingly obvious that our technology has exceeded our humanity.
Albert Einstein

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#3187401 - 03/08/13 11:42 AM Re: Stock Market [Re: 89cherokeelimited]
waynesworld
8 Point


Registered: 05/13/12
Posts: 1471
Loc: Mboro, Tennessee

Offline
If I was in my 50's and was planning on retiring with in the next 10 years I would have a larger portion in safe things. It would not be bad to have some liquid assets that if the market drops a lot you can jump in with some assets. If you see the big money pulling some out they will wait for adjustment and cash in on it. Also having some liquid cash would be nice if the interest rates start going through the roof. If the Govt gets out of the market,
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