How Much Have You Lost? (lets discuss)

[Tampa G35 Sedan 6MT]

I know I won't win this as I'm only 24

I have lost almost 20k dollars as a result of the stock market crash!

How much have you lost?

Anyone know when this will all get better?

DJ

[Beancooker]

Not a cent. I don't gamble, in the casino or the stock market. One in the same if you ask me.

Sorry to hear of your loss though.

[marlin29311]

My 401k is down near 20%...

I'm out $42!!!! Haha, I just starting contribuiting though...all of my other assets are in risk-free securities, as I'm not a big risk fan right now with the way the economy has been lately. I'd rather take my 3-5% and run instead of losing stuff.

[Tampa G35 Sedan 6MT]

Wow I might win this... Until telco gets here lol

I would have thought more people would have been affected by this!

DJ

[uncbeers]

I agree with Marlin...sure there's 'high risk, high reward' but right now there's a lot more risk than reward there. Maybe a good time be buying though?

Personally-I wont look at my 401k but thankfully it has only been accumulating about a year...$20k at 24 yo is impressive (for two reasons-one that you had that much and two that you lost that much).

[ArizonaG35]

Right now, I've lost about $12k in my 401k... fortunately though I had the presence of mind to idle back on my stock purchases a few weeks ago and sink some money in bonds before the floor fell out from under us, otherwise my losses would have been much greater. I'm tucking away those bonds in a safe along with cash and then doubling down on my 401k/IRA contributions. Now's the time to buy!!! Keep your chin up and BUY BUY BUY!

[Jacko3]

I haven't lost a dime a yet , as I work for a public organization, and they tend to be extra conservative about the retirement stuff. Oh, by the way, we have 427 (b) and not 401k. We get no matching contributions But we do get a handsome retirement, if i ever make it to that point. And the job security and pay for what its worth, isn't that bad either.

[telcoman]

Wow I might win this... Until telco gets here lol

I would have thought more people would have been affected by this!

DJ

LOL

I've lost a considerable amount but I am not overly concerned. I have a lot of faith in the stock market.

Look at a graph of the Dow Jones average from 1900 to the present.

Where does anyone think where it will be in ten, twenty, or thirty years from now?

I will guess a lot higher than it is today?

Oil stocks are down now. Where is oil going in the future? Probably higher?

I've also made a few stock purchases over the past couple of weeks as the market was crashing.

For those with a strong stomach the game is played buy low sell high

Of course we should have sold a year ago but who knew?

Warren Buffet is buying and so am I although I am no where near him.

I've been thru a few stock market downturns in 1987, 1990,91 and this year.

What I will pass on to the younger members here is just keep funding your 401k and save and put aside as much money as you can.

I am no financial genius and do not earn anywhere near what Joe the Plumber earns.As I write this MSNBC just reported Joe the Plumber is an unlicensed plumber. I wonder if he's paid his taxes and obtained any necessary permits for the work he does?

I'll have more to say about Joe in the Politics forum.

Telcoman

[SVTCOBRA]

I've lost more than anybody so far.....except possibly for Telcoman.

If your company matches (up to a percentage) and you are not putting in, then you def. need to seek financial guidance ASAP!

Like most, mine is down in price not units. Not close to retirement, so don't spend too much time watching my YTD % change.

[smockers83]

I'm out ~$16,000.

As for when it'll end--when high volatility in the market finally stops. My prediction, along with some others, is that we'll recover by spring given that everything is taken care of correctly and the only problems are the problems we have now.

[G_whizz]

I'm not out much because I am buying whatever I can in the stock market right now. If you can afford it, it will probably be a cold day in hell before this happens again.

Buy low and sell high!

[gwoods]

first thing, you don't loose or gain ANYTHING until you sell.

I am down about $16k overall.

I WISH I had 10k to invest in Visa (V) or Mastercard last Friday!!! You will never see these prices again. Its like buying your G for 20% of sticker or 80% discount!

I told my buddies it doesn't matter where your money is unless its in your pocket. The market ALWAYS recovers, the day it doesn't it won't matter anymore, a shotgun and a pocket full of shells will be the best investment.

[Sentientbydesign]

This might be one of those times where investing in your G may have greater returns than the market or 401k

[zozoka1212]

I think I am @ 0. I hate stock market so my friend helps me out with this. He is in financial business for a few decades. He told me several months ago when the house market started to get worse to switch to gov. bonds for a year. So I did. He told me he'll tell me when to buy. I told him I rather stay with the bonds till it is a little more stable. Yes I am a p...sy.

zozo

[Kendahl]

Pay attention to Telcoman on this. He knows what he's talking about.

Everybody is crying because the stock market is down 30-40%. Compared to where it was when we began investing in the early 1980s, it's still up 800%. (A year ago, it was up 1200%.) Over the past 30 years, the stock market has dropped 30-50% several times. Each time, the hysterics prophesied the end of the world as we knew it. Each time, they were wrong. A few years later, the market was higher than its previous peak. I see no reason to believe this time will be any different.

If you are young enough to still be putting money into an IRA, 401k, etc., this is a great time to increase your contributions, not cut back. Stocks are now on sale. A one third drop in share prices is equivalent to, "Buy two; get one free." Above all, don't panic and sell out. That would be the equivalent of buying a new G for $40k and, after a couple of months, dumping it at a sleazy used car lot for $25k.

Twenty five years from now, I'm sure there will be yet another financial crisis leading to a 35% drop in the stock market. People will be crying because the Dow has dropped from 150,000 to only 100,000. Those who have been investing long enough to have gained some perspective and had the balls to hang on and ride out the dips will be laughing all the way to the Infiniti dealer where they will pay cash for their new G57.

[pattyskin]

I'm out $57k YTD. I'm still in my early 20's. Stock investing is a pretty big chunk of my income. I can't really complain too much though, in 2006 I made enough to buy a G coupe in cash as well as take several exotic vacations and other cool things. In 07 I paid off my 4 year degree 100% with my proceeds from investing, bought tons of mods for my car and furnished my residence. The money I lost was going to be spent to buy an IS-F or lotus elise, or start on buying a home/condo, not really stuff that I needed. The market will turn around sooner or later, until then, no vacations, no new car, and no mods for the G. I think I'll live.

[Raylo]

between my 401k and my 457 i'm down about 70k. It blows but I have about 20 more years until retirement so at this point i'm happy buying low (or so I tell myself).

[soul_hfk]

well i lost almost all of my high risk back at the crach from 9/11 so i stopped that cause if really hasnt gotten any better

[kmckis1029]

i just started contributions to the goverments "401k" called TSP (Thrift Savings Plan) i havent lost anything because all my money is invested in government bonds/securites/stocks or the "G" fund as they call it. Frankly i doubt i change that... i just feel better that my retirment money is safe. There is a smalle gain on the G fund but all i care is that my dollar for dollar investment is there 31 yrs from now when im 65.

I'll only risk my personal extra money in the market... i have always been told dont gamble or invest money you not ready to lose.

[etschell]

you should start buying a little more soon, stock market hasnt dipped this low since 1972-1974 (percentage drop off rate). seriously you can make a killing if you time it right. i havent lost much, im 24 and just started saving 2 years ago.

[Jacko3]

kendahl:

Are you aware that Iceland is bankrupt as we speak? Someone must have advised them to keep pumping money into their stock market without knowing that their debt/GDP ratio had gone through the roof.

I am not convinced that the stock market or this gamb|ing chicanery will continue forever without repercussions as the nations debt/GDP ratio inevitably rises. My advice to anyone is to keep an eye on the debt/GDP ratio of the US in comparison to the same with other nations. For now, we still have a relatively smaller debt/GDP ratio than many European nations, which is pretty good.

But with an ever increasing debt level to include the bail out of Fannie Mae, freddie Mac, Wallstreet, and the almost invisibale Tsunami of debt that will come from Social Security and Medicare, I can't imagine our debt/GDP ratio staying very low for too long. Babay boomers are about to retire starting from 2010, and they willmake demands of our govt finances in ways that we never anticipated. And that will affect our debt/GDP ratio.

So, i will advice many to be cautious as the storm has not passed yet. This stock market is still riding on fluff and thin air. This is not business as usual.

[kmckis1029]

yeah i wish i could invest more right now... just brought my G35x two months ago... and a business investment went sour... but by the begining of next year i'll be back in a position to start investing more... i'm personally thinking about doing some short term CDs because these banks really need cash on hand... 6 month CDs are above 4% at alot of banks. As you can see im playing safe right now