Stock Market

7mminatree

Well-Known Member
Joined
Jan 12, 2012
Messages
2,083
Location
Unicoi Tn.
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.
 

WGK

Well-Known Member
Joined
Feb 18, 2012
Messages
7,600
Location
loudon
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.
 

WMAn

Well-Known Member
Joined
Nov 5, 2010
Messages
1,245
Location
Williamson County
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?
 

WMAn

Well-Known Member
Joined
Nov 5, 2010
Messages
1,245
Location
Williamson County
WGK said:
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.
 

Hunter 257W

Well-Known Member
Joined
Oct 4, 2012
Messages
10,549
Location
Franklin County
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.
 

leader

Well-Known Member
Joined
Aug 10, 2006
Messages
15,343
Location
Knox
WGK said:
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....
 

Bowdacious

Well-Known Member
Joined
Sep 1, 2000
Messages
19,122
Location
over here
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.
 

leader

Well-Known Member
Joined
Aug 10, 2006
Messages
15,343
Location
Knox
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 :)
 

7mminatree

Well-Known Member
Joined
Jan 12, 2012
Messages
2,083
Location
Unicoi Tn.
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.
 

WGK

Well-Known Member
Joined
Feb 18, 2012
Messages
7,600
Location
loudon
Leader,When I said I pulled out I meant out of stocks. Just moved to safer investments.
 

89cherokeelimited

Well-Known Member
Joined
Aug 13, 2011
Messages
813
Location
TN, Sumner, Hendersonville
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.
 

waynesworld

Well-Known Member
Joined
May 13, 2012
Messages
3,177
Location
Shelbyville, Tennessee
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,
 

Latest posts

Top