America's #1 Balance Bike Destination

America's #1 Balance Bike Destination
America's #1 Balance Bike Destination

01 October 2008

Stash Your Cash: Good Advice, at any time

Full Article by Brett Arends

The amount wiped off the American stock market on Monday alone was $1.3 trillion. That's almost twice as much as the theoretical price tag on the bill.
Worldwide, the damage is much bigger.
Ordinary Americans, through their mutual funds, lost at least $400 billion. That's real value wiped off 401ks, IRAs, and 529 plans. That's retirements delayed, and college plans re-evaluated.
And again, that's just the losses suffered on Monday.

Checking one of my 401K accounts last night, I am astonished that after Monday's losses, I'm down 27% year to date. Is it time to cut back my contributions? (I'm at 15%) or double them up? I'm thinking stay the course, but it's tempting to transfer all my holdings to cash on the next big rally and take a breather, and temporarily re-allocate future contributions to cash or bond funds.


Gyro said...

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nhrider said...

Stay the course. 401Ks are for long term. Now is not the time to change. Think of iot this way, the investments you buy now are on sale!

nhrider said...

After today's Market troubles I may have spoken to soon. Stash your cash!