DOW PLUMMETS ANOTHER 678 POINTS

[bobquasit]

A thought just occurred to me.

Should I still be contributing to my 401k?

I mean, every paycheck some chunk of money goes straight to my 401k - and therefore, to the stock market. I have it set for the most conservative option possible, I think, but still it's probably losing money.

Okay, the company is matching my donation. So I may not be actually losing money yet, in some sense. I mean, my losses would have to be 50% to negate the company's contribution, right? But at the rate things are going, I have to wonder if the economy is going to tank completely.

I've been predicting utter disaster as a result of Bushonomics for a long time. Now that it looks like I'm right, I'm not entirely sure what to do.

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Comments

[fireheart.livejournal.com]

I'd certainly do it if I were you. The 401K is presumably diversified. Unless the company tanks completely, it will bounce back. This is just a panic. That's a bubble, upside down. It will spring back up just like any bubble springs down.

Buy low, sell high. This is the low part. The alternative to the market bouncing back is total financial and civic collapse, in which case your money would be worthless anyway.