Over the last few months I've been thinking of buying a new camper.. With the economy in the tank, I've decided to just keep the 820 until the windows and door fall out. My depression fell to an all time low this morning after checking my 401K..... In 10 months it's lost -31.8 percent.. I noticed even my dogs not happy. He sitting over on the neighbors porch. Anyone need their grass cut or maybe a car wash?
about six monsth back ,warren buffet was on the stock channel talking and he said ,if you think the last 6 monsths were bad? wait till you see the next 6 monsths , this was before all the banks and housing uproar, I pulled out of the stock market, I already lost a good junk, and wasn;t going to loose anymore , so I buried it all in the back yard . I not earning a dime ,BUT THE WORMS ARE HAPPY. and it ain;t over yet.
I'm glad the Civil Service's TSP (govt version of 401k) allowed me to move my money out of stocks and into government bonds. I won't get rich but at least I have stopped losing money. Might have to work a couple more years before retirement though.
2007 F350,SC,LB,4x4,6.0/Auto,35" tires,16.5 Warn,Buckstop bumpers
2007 Outfitter Apex9.5,270W solar,SolarBoost2000e,2 H2K's,2KW inverter,2 20lb LP on slide out tray,4 Lifeline AGM bats,Tundra fridge
95 Bounder 28' ClassA sold
91 Jamboree 21' ClassC sold
If you can just hang in there,things will take about a year to straighten out. remmber the stock market has tanked before in fact several times in the last 50 years.
In the early 90's the corporation I work for foisted upon us a thing called the Employee Stock Ownership Program (ESOP) They cut our pay 25% and made up for it by issuing stock into a retirement account. We had no access to it unless we quit or retired. Since it was considered a tax deferred investment we were at our contribution limit and could not put any money into 401k. So after 8 years, when the ESOP ended the company filed bankruptcy and the value of the ESOP shares was wiped out. While in bankruptcy they also eliminated our pensions.
So at age 50, all I had left was the equity in the house and what little had been in the 401k prior to the ESOP. Well, the home equity was obviously the next thing to go.
I've had a notion for some time that in the end, all I'm going to have is a wooden bowl and a diaper but honestly, when it really is all over I won't be able to take even those with me
But seriously, I just upped my 401k contributions. I figure I'm getting it cheap right now. You haven't 'lost' a dime until you sell it - it's all just on paper. If the economy really does totally tank hey, at least we've got truck campers!!
1994 Lance 990 on 1997 F350 PSD Dually
We also have a 'truck' that FLYS
Our 2008 trip to The Canadian Rockies
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not earning a dime ,BUT THE WORMS ARE HAPPY. and it ain;t over yet.
Conventional wisdom says:
