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Old 08-17-2013, 12:00 AM   #21
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I attend corporate business meetings several times a year and we hire in marketing and trade representatives to put them on . These people are big into the markets and trade . There was not one there last week that didnt say the same thing about the Government pumping dollars into the markets to help keep things up and they also said expect it to stay like this until BO is gone . Then the fault of the market crash will be on someone else's shoulders . Maybe they will be wrong and I hope for everyone's sake its false info . But in the 7 years I have been going to these . They have been right on target every year .
Sadly, I know the markets exuberance doesnt reflect reality but Im 52 and my bet is this market will keep climbing for the next couple years anyhow and I still have some years to recover it if Im wrong. To date, Ive recovered all the drops from the bear market and more but things have not gotten a bit better on the home-front, just cheap federal money to giant Corporate borrowers.
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Old 08-17-2013, 02:28 AM   #22
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I rode it out in stocks when the 2008 crash hit, just moving new contributions into a MM fund for a while. I also took out a 401k loan before it fell much, and what I repaid earned me more than the market was. I've since made back what I lost, plus a good bit more. As of July 31 this year, I'm up 24% over the past 12 months. I'll take that return any time and twice on Sundays.

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Old 08-17-2013, 02:35 AM   #23
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I say hit the strip club and have a blast. You can't take it with you, so enjoy it while you can. Aaaiiieeeeeeeeeee!
Dont take a bunch of cash into the shady ones (where the girls make their own deals)...good way to get robbed...
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Old 08-17-2013, 03:10 AM   #24
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I never listen to the gloom and doom people. They are by admission poor judges of finances. I rode out the rise and falls of the markets over the years. In retirement my 401 investments have been a fortress against inflation. To pull out earlier and pay the government 20 % of your savings is not wise.

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Old 08-17-2013, 12:11 PM   #25
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I never listen to the gloom and doom people. They are by admission poor judges of finances. I rode out the rise and falls of the markets over the years. In retirement my 401 investments have been a fortress against inflation. To pull out earlier and pay the government 20 % of your savings is not wise.
LOL........ Sometimes pulling out early will save you money in the long run........Naw, just trying to save what it has earned and have money for the wife, just in case.....she deserves it more than I do, She worked a lot more hours than I did, and that was 7 days a week........I think it's time for a new Gov. that doesn't burden the elderly for tax dollars...........
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Old 08-17-2013, 12:30 PM   #26
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I rode it out in stocks when the 2008 crash hit, just moving new contributions into a MM fund for a while. I also took out a 401k loan before it fell much, and what I repaid earned me more than the market was. I've since made back what I lost, plus a good bit more. As of July 31 this year, I'm up 24% over the past 12 months. I'll take that return any time and twice on Sundays.
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I never listen to the gloom and doom people. They are by admission poor judges of finances. I rode out the rise and falls of the markets over the years. In retirement my 401 investments have been a fortress against inflation. To pull out earlier and pay the government 20 % of your savings is not wise.
Same with me. But again, it depends on your age.
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Old 08-17-2013, 03:09 PM   #27
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Age of course. You may start with drawls at age 59 and 6 Mos. without a penalty. By age 70 you will be required by law to with draw a set amount each year and pay income taxes on that amount.

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Old 08-17-2013, 03:33 PM   #28
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LOL........ Sometimes pulling out early will save you money in the long run........Naw, just trying to save what it has earned and have money for the wife, just in case.....she deserves it more than I do, She worked a lot more hours than I did, and that was 7 days a week........I think it's time for a new Gov. that doesn't burden the elderly for tax dollars...........
Most 401Ks have a money market option. Don't take the money out, when you think the market is going south, move it to the money market. That will give you a little growth while you ride out the bad times. It is generally guaranteed to about 1 to 1 1/2%. Don't yank it and give Obummer 20%.

One of the things you can do is roll the money out of the 401K into a 401K investment account with a broker, and tell him at this time you want a very, very conservative, little risk approach. there will be no taxes on the money, but you can largely remove it from risk.

Unfortunately I believe this govt. wants to punish those of us that save, and not overspend so we have to depend on the same govt.
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Old 08-17-2013, 03:35 PM   #29
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Age of course. You may start with drawls at age 59 and 6 Mos. without a penalty. By age 70 you will be required by law to with draw a set amount each year and pay income taxes on that amount.
At 70 (it may actually be 69 1/2) you are required to take out 4% of the account balance. The percentage increases each year, but I do not remember how much.
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Old 08-27-2013, 07:40 PM   #30
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Default Who knows.........

Which way is the market headed since I first posted.........

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