What is Digg?225 Comments
- bentheo, on 01/18/2008, -2/+110the title has nothing to do with the article. the whole point of a 401k is longterm investment for your retirement. one crappy period in the span of the 40 years until you retire really isn't worth losing any sleep over
- mz00m, on 01/18/2008, -6/+112The market will come back eventually. Now is actually the perfect time to BUY! Buy cheap sell high, and live below your means, you will retire well.
- inurb, on 01/18/2008, -0/+90Repeat with me everyone "LONG TERM INVESTING OUTWEIGHS SHORT TERM MARKET FLUCTUATIONS"
- okrbot, on 01/18/2008, -5/+80cause letting it sit under my matress is so much better. It can take a dunk considering its been steady going up for the last five years.
- Nat3r, on 01/18/2008, -36/+102Digg has become THE location to find articles that say things like:
OUR PRESIDENT ***** SUCKS
or
YOUR MONEY IS WORTHLESS
or
OUR ECONOMY IS GONNA DIE! - tuxidomasx, on 01/18/2008, -3/+50And people told me i was crazy for telling them to buy ramen noodles and bricks back when they were only 1 cent
- ipodman, on 01/18/2008, -3/+43Smart people understand that now is the time to buy - everything is on sale.
- theisel, on 01/18/2008, -2/+38Irresponsible title!! I am no economist but unless you are about to retire a 401k is a long term investment. If stocks take a dip you see a temporary "loss" but you are also buying at a discount if you contribute on a regular basis. History tells us that the stock market will recover. Sometimes it just takes longer than others. When it does rebound the stocks you have been buying up at the reduced rate end up making the temporary losses worth it. This "the sky is falling" approach will only scare people into selling more stocks and fan the fires of recession. Thanks for helping drive this recession Chicken Little!!
- MacEnvy, on 01/18/2008, -20/+53Nope, they're saying that everywhere now. Because it's mostly true.
- Sirocco, on 01/18/2008, -1/+31Diversify. Relax.
- Theisos, on 01/18/2008, -20/+49Happy recession America!
- rpi22, on 01/18/2008, -25/+53And people told me i was crazy for telling them to buy gold back when it was only $250 an ounce.
- mescad, on 01/18/2008, -3/+27Yeah great idea. Selling the day after everything goes low seems like a winning strategy. The old "buy high, sell low" works every time.
- artificialgrey, on 01/18/2008, -0/+22I think you shouldn't ask for financial advice on digg
- cawpin, on 01/18/2008, -7/+28This story is stupid. The stock market ALWAYS goes up. A 401k is a long term investment, not a quick money maker.
- wastedlife, on 01/18/2008, -2/+22I think long term investment means long term. Wait for it to go back up if you want to get out.
- bilbravo, on 01/18/2008, -1/+18Exactly. And if anything else needs to be said, it's that now is a good time to up your 401k contributions. My opinion, of course.
- TKardinal, on 01/18/2008, -1/+16Dow is down 2.5% and they say "you lost a huge chunk"?
Ugh. This is why we have recessions; because people BELIEVE the economy stinks...the eocnomy then stinks.
"The only thing we have to fear...is fear itself!" - RandoTheKing, on 01/18/2008, -1/+16Not all 401k is stocks
- DrMonkeyLove, on 01/18/2008, -0/+15It's almost as if the market fluctuates! Egad! Yeah, is this really a surprise to anyone?
- lucutus, on 01/18/2008, -7/+21Moved most of mine to foreign funds last year, it's doing fine...
- mdesjardins, on 01/18/2008, -0/+14Exactly. I'm not retiring for another thirty years. The U.S. economy is bound to come back sometime before then. My 401(k) is almost 100% stock and I'm not touching a thing.
- ttarmoom, on 01/18/2008, -1/+15Nice to see someone has some forward thinking...
- Rehnborg, on 01/18/2008, -0/+13Unless you are retiring tomorrow it's not going to matter because the market will correct itself and will go back up.
- wastedlife, on 01/18/2008, -6/+19Meanwhile, the FTSE is up 105p so far today, yay Britain!
The DOW will be back up in a few months, don't worry about it. - dmclone, on 01/18/2008, -1/+13Will someone please post when we've hit the bottom so all these clowns can get back in?
- slantyeyed, on 01/18/2008, -0/+11Maybe next time you won't give mortgages to people with bad credit?
- holzp, on 01/18/2008, -1/+12Why not? Living rent free in your mom's basement is a sound strategy.
- Buzzbean, on 01/18/2008, -1/+12It's called dollar-cost averaging. You put in the same amount on a regular basis to a diversified lineup of funds, then you rebalance among those funds every year. This way you are purchasing more shares when they are cheaper, fewer when they are more expensive, selling high and buying low. Do this on a regular basis and live below your means and you'll retire in fine shape. Unless you are retiring now, a market drop means nothing but a buying opportunity. If you are retiring now, you should have already had a good portion of your portfolio moved to less volatile funds such as bonds already. That's what you'd be selling now. For those who believe in something only if they see it on Wikipedia:
http://en.wikipedia.org/wiki/Dollar_cost_averaging - DrMonkeyLove, on 01/18/2008, -1/+12Damn you voice of reason! You don't belong here.
- Yodzilla, on 01/18/2008, -0/+11Rational arguments and reason have no place on Digg. Keep your "economics" to yourself and let us freak out in peace.
- coit, on 01/18/2008, -0/+11Yeah, and the stock market went down a whopping 2% yesterday... Nice overly sensational title....
- CosmicJustice, on 01/18/2008, -0/+11Stocks are on sale. Buy them up.
- h2m3, on 01/18/2008, -1/+11For those of us with more than six years to retirement (99% of us), this is a good thing. We will continue contributing the same amount, which means that each dollar has an increased purchasing power to buy more shares. With our share number up, when the market recovers (and it will, despite the fact that the media is treating this like judgement day [not the movie]), we will have a greater value to our portfolios. Viva la recession!
- LastVisibleDog, on 01/18/2008, -0/+10Inaccurate - depending on your portfolio, you could have made money. Title writer does not understand the stock market or 401k's
- bubbagump, on 01/18/2008, -0/+9Being that I am not retiring any time soon, I say great! The lower price lets me buy more shares now so when they appreciate later I can more more money.
Its called dollar cost averaging folks...
Many people on these forums are younger. Do yourself a favor, get a good financial advisor, and don't chase the markets. If you do, you will lose. - gharding, on 01/18/2008, -0/+9BY THE WAY. It's tax time and it's a great time to buy. IF YOU DON'T HAVE AN IRA, OPEN ONE THIS YEAR. LIKE RIGHT NOW.
- 0xbaadf00d, on 01/18/2008, -0/+8Considering the average person on this site can't take the money out for 30+ years... I wouldn't lose sleep over it.
- wastedlife, on 01/18/2008, -6/+14Rational thinking always gets dugg down. It's a shame.
- DogHumpsMonkey, on 01/18/2008, -0/+8The best financial advice I ever got from my grandfather was the day he held up a gold coin and said "no matter what happens, this will always be money". I guess those that lived through the depression learned some lessons from it. I took it to heart and while I don't have tons, I have pounds of the stuff and am glad I do. Thanks gramps!
- signal15, on 01/18/2008, -1/+9I put about 70% of my 401k into foreign stocks over a year ago. My return last year was like 17%.
- tgc1, on 01/18/2008, -1/+9If you stick your money under a matress, or don't invest it, the inflation monster will eat it.
- DrMonkeyLove, on 01/18/2008, -0/+8Dugg down for irresponsible, inaccurate title. Learn what a 401k is, then come back.
- inactive, on 01/18/2008, -1/+8Of course gold, like other commodities, is an investment too.
- merm, on 01/18/2008, -0/+7The way I look at it is that the stock market is on sale right now - many stocks are undervalued by more than 40%. That's an invitation for me to buy, and that's what I'm doing. I'm a long term investor so this is an excellent opportunity to dollar-cost average down a LOT. If you're a long term investor you should be looking for deals in this market and buying like crazy. Look at the people who were buying in 2002, they've rode a great wave - even including the recent dips over the last few months. Don't buy all the negative hype - watch what the great investors like Warren Buffet are doing. He's not letting his money sit idle right now.
- tgc1, on 01/18/2008, -0/+7Right now is the time to save or invest. Not spend.
- slantyeyed, on 01/18/2008, -0/+7anyone who pulls out of their 401K now is an idiot. 401K is about the long term. For example, the dot com boom only last a few years.
- Rehnborg, on 01/18/2008, -0/+6Exactly, it is just a "paper loss" and like you said unless you are about to retire it's no big deal. The sky isn't falling.
- Nation, on 01/18/2008, -0/+6you never know when the bottom really is ... a better idea is to take emotion out of the equation by having a proper diversified portfolio that focuses on different asset classes and attempting to capture what the asset classes are doing.
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