anyone else loose money yesterday?

[brosmith]

seriously' date=' now is the time, to be buying like mad. the number of shares you buy now (assuming you don't have to retire in 4 years) is outstanding. That is why regular donations (like to a 401k) are so nice. You get more shares during low times, and more returns during high times. It helps to lessen the hills and valleys. If you have capitol right now, there are deals to be had.[/quote']

The market lost 24% in 8 trading days. Assuming 8% growth annualy it will take approx 3 1/2 years to gain back what was lost in 8 trading days. Is that really good stewardship? I don't think so. There are no guarantees that the stock market will even grow by 1% annually. The market lost 10 years of growth in a matter of 8 trading days.

[dwayner79]

Which is why regular ( and diversified) purchases into a 401K are so helpful... You are getting the best of both directions. 401ks are still solid investments in the long run. Besides, your 3.5 year figure does not take into account compounding interest.

[nucreature]

So, Dwayner, what have you personally found to be good investments these days? All of ours have been shifted to the cash reserves in our 401k. We've just been sitting on it, 'cause we lost a bundle and don't want to lose any more. I guess a lot of people are doing this, and that has not helped the problem nationally. If we felt pretty comfortable re-investing right now, we might just do it. We just don't know which direction to go after being burnt so bad.

[dwayner79]

Disclaimer: I am not a professional, hardly an amateur and I am more then open to being wrong. (I.e. when apple goes under don't call me)

Single stocks:
I'm a little more techy then others, so my first pick is to buy apple (AAPL). Look, people love iPods, people love Macbooks. The company is not going anywhere. Its under 100 right now. I was thinking NVidia (NVDA) but with the new chip flaw, its a little more risky. HTC Corp (on Taiwan exchange I think) hasn't seen a dip at all. Their phones are amazing. They are not going anywhere, so I could see them as a decent purchase. I think HP and Dell are both lower then they should be, but I'm moving farther and farther into my own speculation, so I will stop there.

Funds:
Small and Mid cap growth funds are probably best at this point. Most of the companies I listed above are in that class. Its really all about the shares at this point. Your getting many more shares with your money. The normal logic still works. Diversify, diversify, diversify. If your making a one time purchase, you have a lot more risk. By spreading your purchases over time, and over multiple funds, you round out the bumps on both directions.

[deafnva77]

NEW YORK - Trillions in stock market value ? gone. Trillions in retirement savings ? gone. A huge chunk of the money you paid for your house, the money you're saving for college, the money your boss needs to make payroll ? gone, gone, gone.

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Whether you're a stock broker or Joe Six-pack, if you have a 401(k), a mutual fund or a college savings plan, tumbling stock markets and sagging home prices mean you've lost a whole lot of the money that was right there on your account statements just a few months ago.

But if you no longer have that money, who does? The fat cats on Wall Street? Some oil baron in Saudi Arabia? The government of China?

Or is it just ? gone?

If you're looking to track down your missing money ? figure out who has it now, maybe ask to have it back ? you might be disappointed to learn that is was never really money in the first place.

.....http://news.yahoo.com/s/ap/20081011/ap_ ... _the_money

[brosmith]

If you're looking to track down your missing money ? figure out who has it now' date=' maybe ask to have it back ? you might be disappointed to learn that is was never really money in the first place.[/quote']

I myself prefer to deal in reality than in a fantasy world. The stock market is a house of cards that is falling down and nobody is going to have the resources to pick up the pieces. Multitudes (including many professing Christians) have been taken by the deception of easy money on Wall Street. Millions of dollars that could have been used for the Lord's work has been lost never to be regained.

If you read the history of the stock market then you will find that it was started by rich people as a form of entertainment. It was not until the 1920's that the common people got involved. Why? The desire to strike it rich! As a result, the market collapsed and brought with it the Great Depression!

[deafnva77]

well, they did make a game called "pit" around that time too.

[Anon]

It sounds good to throw in "could have been used for the Lord's work" but most of that was paper money that never would have been used for anything, anyway.

[brosmith]

It sounds good to throw in "could have been used for the Lord's work" but most of that was paper money that never would have been used for anything, anyway.

I was refering to the hard earned money that God's people had withheld from their paychecks.

[Anon]

I was refering to the hard earned money that God's people had withheld from their paychecks.

Its withheld, so their hard earned money can support them when they are old.

[deafnva77]

I was refering to the hard earned money that God's people had withheld from their paychecks.

before paper money was invented (or coins), people used to trade.. but it didn't do them any good if one person keep giving another person apple pies for meat when they needed other things. That's when they started determined the value of things. So even your hard earned money is set up for what it is worth.

[brosmith]

Its withheld, so their hard earned money can support them when they are old.

Many people can't support themselves today (living paycheck to paycheck) because they are too concerned about retirement. Why not support God's work instead?

[John81]

Many people can't support themselves today (living paycheck to paycheck) because they are too concerned about retirement. Why not support God's work instead?

I do agree some people put too much into their retirement accounts. For some, this leads them to live off credit cards, which is actually defeating the purpose once you factor in all the interest payments. For some, this does indeed meaning giving less to the Lord.

Of course, these are issues of the heart, and sometimes also an issue of misunderstanding.

[Anon]

Many people can't support themselves today (living paycheck to paycheck) because they are too concerned about retirement. Why not support God's work instead?

Sorry, I don't know anyone personally who can't support themselves because they are putting money into retirement. You are spiritualizing this by saying "God's Work" but I can see right through that.

Again, I have read some of your financial posts in the past, and I'm not sure why you are a professional on financial advice??? I'm not trying to be nasty, but you are telling other people to do things "in God's name" when your finances aren't so hot yourself...ya know? Just sayin'..... :hide

[trc123]

Spitting into the wind I'm telling you!