Quote Originally Posted by Chubminnow View Post
Alright...so in your all's opinion, what should a guy who's 47 years old do with his 401K/IRA money TODAY? Ain't looking to retire, will probably work until the day I die.

So what do you think, ride the storm?
You're in a tough position..........WHILE you have plenty of years left to make it up........it really depends on WHEN you want to retire, and HOW much you've lost already.

I'm younger than you.........ha, ha....... so my ideas may be a little different.

I think it will take about 10-15 years to recover from this........Maybe not, but I know for a FACT it took 8 years to recover from the 2000 meltdown, and this is almost DOUBLE those losses.

Last year was the FIRST year in 8 - 9 years where I didnt' carry forward losses on my taxes..........I KNOW how long it took to recover.

With that in mind........if you PLAN on retiring anytime soon, I'd be socking away as MUCH as I could......if you can put the MAX in your 401k or a ROTH IRA, I'd do it.......If your company matches, I'd at least make sure I was getting all their MATCHING funds.......and if your company stock pays dividends, elect to have those reinvested........I really think we're pretty close to the BOTTOM, so the money you have there now, is a LOSS, meaning you will not lose any more money, but the losses will match the gains for the next 10 years, so you will break even on that money.......

ANY new money you invest should make 10-20 percent......Maybe even more, depending on what instruments it is invested in.........

My personal plans are to leave everything that I currently have invested WHERE it is......and put EVERYTHING in my future investments, meaning whatever I contribute over the next 10 years split 50 50 in a AGGRESSIVE growth type fund, and something a little safer.....trying to make up the losses.........

This will change if the market REALLY takes off, and I can recover say 1/2 of my losses.........If that happens, I may take my lumps, and move ALL of my current investments into something a LOT safer, and all my future investments into 25 25 25 25, meaning 25 aggressive, 25 small cap, 25 stable income fund, and 25 international..........that is a GOOD mix in a BULL market .

My biggest issue with now is making up the losses in both of my daughters education accounts.......I've been saving for 18 years for my oldest, and I've lost over 40% of it........Meaning, instead of going ANYWHERE, she will have to stay more locally...........AT least for now, which may not be a bad idea anyways......

I hope this helps.

Later,

Geo