Where are all my experts at? How bad is it? How bad is it going to get? Should I be worried about my bank?

I can't even look at my 401k without wanting to jump off the roof.

 

I'm seriously debating cashing out my 401(k) and buying CD's with it or something. The 10% penalty would likely be better than where its going. I'm down 14% this year, and I was almost dead even two months ago.

 

Is it only 10% on the cashing? Thought it was 20%?

I was going to cash it too but then just moved it to conservative which is only down 1% this year. Let's hope it holds.

Also, what's to say under the matress is not better than CD's? I mean bonds dropped too and they were considered as solid as it gets.

 

Just steal and sell catalytic converters... at near $100 a pop, you can hit 30 cars a night. thats 3 grand.

chances are though, if you do that, you are looking to make an investment in your arm/nose.

 

Time to move to Canada

 

Warren Buffett says buy when others are in fear. I would say now is a good time to buy...

 

Yeah, let me buy with the money I just lost.....hm....only works for "some" people apparently.


On a side note, why does John have a "91 Acraua NSX"? Is that the JDM version?

 

You can buy buy buy all you want at low prices, but it wont do you any good when those companies are going out of business.

 

It's 30-40% penalty to pull your money.... i work at countrywide which i have seen my stock go from $45 to $6...... i lost in the 5 figures...... i stoppped putting any money in my 401k and instead started saving it and putting it in cd's.....i will put money in my 401k again once everything gets better which i don't see happening for a few months/years

 

Yes, there are certain companies you should get out of, or stay away from, but the companies which are stable are very good value right now for when the market starts to come back. This is just another cycle, think 2001/2002.