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Question about my 401k
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<blockquote data-quote="Shari" data-source="post: 202039" data-attributes="member: 1848"><p>I'm not sure investment advice is cool here, but if you beleive in the stock market, now is a "buyer's market". Before, when you put $200/month in, you bought, say, 10 shares at $20/share. Right now, you can purchase sometimes 20 or 30 shares for that same money because the prices are down.</p><p> </p><p>The risk of this is if the stock that your fund invests in completely tanks, you will lose what you've invested. The beauty of a mutual fund is that your share represents holdings of several different stocks instead of just one, so to lose everything, everything your fund invested in would have to tank. The other risk is that the stock market will eventually rebound, laregely intact, and those who bought stocks and shares when the market was down will turn some major profits.</p><p> </p><p>Its legalized gambling. </p><p> </p><p>Personally, I am leaving my money alone - I'm not even looking at my retirement funds because, like you, I panic. I have 2 thoughts about this tactic...1) if I panic and pull my money, then I am contributing to the problem, and 2) surely, the markets will eventually rebound. But you have to do what is right for you.</p></blockquote><p></p>
[QUOTE="Shari, post: 202039, member: 1848"] I'm not sure investment advice is cool here, but if you beleive in the stock market, now is a "buyer's market". Before, when you put $200/month in, you bought, say, 10 shares at $20/share. Right now, you can purchase sometimes 20 or 30 shares for that same money because the prices are down. The risk of this is if the stock that your fund invests in completely tanks, you will lose what you've invested. The beauty of a mutual fund is that your share represents holdings of several different stocks instead of just one, so to lose everything, everything your fund invested in would have to tank. The other risk is that the stock market will eventually rebound, laregely intact, and those who bought stocks and shares when the market was down will turn some major profits. Its legalized gambling. Personally, I am leaving my money alone - I'm not even looking at my retirement funds because, like you, I panic. I have 2 thoughts about this tactic...1) if I panic and pull my money, then I am contributing to the problem, and 2) surely, the markets will eventually rebound. But you have to do what is right for you. [/QUOTE]
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