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#1085026 - 11/20/08 05:09 PM Re: Down goes the Dow...the Big 3....and.............. Dip
The OG Zaibatsu Offline
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The OG Zaibatsu
Joined: Dec 2007
Posts: 1,696
Texas
Originally Posted By: Dip
Just quit my contributions until we know more about the market. It's too scary and uncertain for me right now. Hopefully in a few months things will look better, even if the economy is slow. Then I'll start back up again. Besides, I've been tryign to save up a chunk of cash and the extra $300-somethgin a month will help.


Have you looked at the statistics on how much money people who did this lost in the past? Either our economy will continue to grow and you will make this up or it won't and we're all hosed. If your company is matching your contributions (1 to 2 or 1 to 3), I would consider continuing to contribute. If they don't match, I don't know why anyone would contribute to a 401K--there are other options.
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#1085028 - 11/20/08 05:11 PM Re: Down goes the Dow...the Big 3....and.............. QCL
#Just Jay Offline
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#Just Jay
Joined: Oct 2006
Posts: 14,390
Cheeseheadland
I moved another chunk from cash into the market again yesterday, and raised my 401k contribution at the start of the quarter as well as continuing to max out my Roth contribution... money is on sale, and the more shares we can rake in now, will just blossom in the future!

I have toned down the investments as well though like the others above have mentions to more moderate investments, from a moderate-risky position before I cashed out this summer.
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#1085047 - 11/20/08 05:31 PM Re: Down goes the Dow...the Big 3....and.............. #Just Jay
Dip Offline
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Dip
Joined: Mar 2005
Posts: 6,298
San Diego, CA
A couple months to stockpile some liquid cash isn't goign to kill me. I've always been good about contributing to my 401k--was the easiest was for me to be responsible and invest for my future.

My company matches 50-cents on the dollar up to 6% of my pay, so I was putting away 6%. I'll go back to it once my savings gains a little weight.
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#1085053 - 11/20/08 05:33 PM Re: Down goes the Dow...the Big 3....and.............. Dip
A_G Online
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Joined: Jul 2004
Posts: 18,958
Better be careful when you can switch contribution amounts - ie the amount that comes out of your check.

Not sure if it's Federal or State law or whatever, but we can only change our amounts in January and July of each year. It's not at will.
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#1085063 - 11/20/08 05:38 PM Re: Down goes the Dow...the Big 3....and.............. A_G
#Just Jay Offline
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#Just Jay
Joined: Oct 2006
Posts: 14,390
Cheeseheadland
Generally, it is a plan rule.

We can change our contribution amount quarterly. My other half's can change theirs whenever they wish.
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#1085067 - 11/20/08 05:39 PM Re: Down goes the Dow...the Big 3....and.............. A_G
Dip Offline
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Dip
Joined: Mar 2005
Posts: 6,298
San Diego, CA
I can go and change at any time but not sure when it takes effect--might be a pay period or two delay? The rep at Prudential was walking me through how to do it online.
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#1085072 - 11/20/08 05:42 PM Re: Down goes the Dow...the Big 3....and.............. A_G
pjs Offline
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pjs
Joined: Aug 2004
Posts: 10,319
oHiO
I'm glad you stated that AG because that is how we are. I was waiting for my paycheck to lower because I upped my % in my plan and now I know it won't be until January that the change will come.

I was in 52% aggressive - which wasn't good-

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#1085077 - 11/20/08 05:45 PM Re: Down goes the Dow...the Big 3....and.............. pjs
A_G Online
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Joined: Jul 2004
Posts: 18,958
That's why I'm going to maintain as is after the annual raise. I might even decrease to what my company matches just to get the match and put the leftover in an IRA...
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