anyone else loose money yesterday?

[okjac80]

I bailed ship and sold most of our mutual fund, keeping just enough in there to keep it open. THat is our "just in case money". We couldn't afford to loose that. However, our IRAs lost close to 30% yesterday!! OUCH! Michael hasn't checked our TSP yet. ANyone else loose anything yesterday?

[Pastor Matt]

I'm afraid to look.

[Anon]

The market will go back up....what goes down goes up....hang in there. You don't really lose unless you sell.... because the money will come back when the market rights itself.

[JerryNumbers]

I didn't lose a penny, but them I have no money to lose, rightly the only treasures Linda and I have are invested in heaven, according to Jesus no one can steal theses treasures.

I recall when Linda's 1st cousin lost $80,000 when Emron fell, I believe they will be many who will lose much more than that in the coming weeks, this has been coming for several years, it seems to have arrived.

[matie-k]

I wonder how this affects multi-millionaires.

[okjac80]

I didn't lose a penny, but them I have no money to lose, rightly the only treasures Linda and I have are invested in heaven, according to Jesus no one can steal theses treasures.
.

are you saying you think it is wrong to prepare for you own future?

sure, the most important planning for your future you can do it to "store up treasures in heaven" just as the Bible says. But I also believe we are to be good stewards of the money we have been blessed w/.

[Anon]

Most 401K's have some stock included....and 401K's are wise so you don't end up living off the government.

All retirees need something, they can't work forever....

[Pastor Matt]

If you own a house or anything of value, then you already lost some money as the housing market has gone down. It is not just the stock market, it is also the housing market.

[dwayner79]

My YTD return is -28.43%
Since 1/1/07, -37.58%

Its painful to watch...

[Anon]

Its true BroMatt....I have a good friend in San Diego and they are having to refinance, and are hoping it will buy them enough time to get out of the housing slump, otherwise they are in trouble and will be upended on their home. :sad

Too bad we don't have a little extra money, it would be a very good time to buy right now....

I guess its a good object lesson to lay up treasure in heaven. For us anyway! Sometimes I think another depression would do our country good, but then we are so spoiled that we would expect the government to feed us with a spoon and take us to work and give us jobs and a depression would indeed, I think, be a nationwide Katrina effect. Scary.

[trc123]

I'm not selling ; thus haven't taken a loss yet. Being in it for the long haul, it should go back up. If the Lord comes before then (I pray he does) it simply won't matter anyway.

[matie-k]

Wouldn't now actually be a good time to invest?

[CJP56]

No, we didn't lose any money that I know of. We just have a checking account that we keep enough money in to pay the monthly bills. I know that isn't the best way to do things, but that is the way it is.
I do feel sorry for those who have lost money. It is a very serious thing our country has gotten itself into. Putting the title of "a deadly sin" on the act of greed makes lots of sense and there are many CEO's out there who should probably be in prison instead of living it up on the Riviera. CJP56.

[trc123]

Wouldn't now actually be a good time to invest?

Actually, you are correct. If you find deals that are very low now and there is a reasonable expectation that the company is woefully under valued and sells a product that will continue to be in demand on the other side of this slump then they are saying buy and diversify.

[trc123]

No, we didn't lose any money that I know of. We just have a checking account that we keep enough money in to pay the monthly bills. I know that isn't the best way to do things, but that is the way it is.
I do feel sorry for those who have lost money. It is a very serious thing our country has gotten itself into. Putting the title of "a deadly sin" on the act of greed makes lots of sense and there are many CEO's out there who should probably be in prison instead of living it up on the Riviera. CJP56.

In the old days they used to hang horse thieves because when you stole a person's horse you took their livelihood, ability to plow a field, bring goods to market, etc. Perhaps those who steal the retired person's livelihood should suffer a similar fate!