more bad news...

[Gina]

Haley , I am so sorry to hear about your 401K plan, like most said you probably would have lost it. But the point here is that its done now. I watch Susie Orman a lot and I believe she mentioned in this economy if your company is not matching your 401K you are probably better off opening up a IRA account. Or to use that money and put it towards your mortgage for that is the ultimate goal of a 401 account for paying off the mortage when you retired. Not sure but go on her website and watch her show every Saturday nights @ 9 pm. She is very good and she also has written many books. Marilyn has given you good advice too.

As Judy mentioned don't worry about the future.. You are still young and the market will eventually rebound in time. My husband is closer to retirement and his mentally and feelings are the same. He is 54 yrs. old and he lost a lot to on his 401K. I feel for the people who are retiring now.

Haley we are all feeling the effects one way or another today. I sypmathize for my children and others who will be graduating this year and finding a job on Wall street or any other business company will be very hard. They will have to start paying their student loans. I wish someone would lower their interests rates on their loans until they are employed., for how are they suppose to pay when they have no jobs...


We can go on with so many problems... What is the sense...
Hugs to you Haley ride out the storm....

[judy]

If I lose much more in my "safe annuity" I'll have $10.00 for my old age. I also asked my financial guy to move it to more stable places when the dot coms fell apart. He did, but some is still in the market.

Luckily, I have a pension, will collect Social Security for as long as it lasts, and already bought my house. Except for wanting to leave it to my daughter, I don't really care if the mortgage ever gets paid off.

I feel for my daughter and SIL though. He's not working, and there are just no jobs up here. He's in the electrician's union but there are no jobs to fill. He always managed to find something, but with the economy like this, he's just not able to find work.

My feeling is that he will find something, but who knows when.

[HALEY]

Thanks everyone, i did move some money around, i change one thing, instead of putting money in my savings, i have a safe at home i been putting cash into, cause my sister told me to do so, cause its going to get worse before it gets better, i don't feel myself that this stimulas package is going to work, and i want cash on hand, in case i need it, i don't know how this is going to effect my bank but they got hit twice and i'm not chancing it anymore... my grandmother did this in the old recession, and she was glad she did. and i'm going to follow in her footsteps here.. just to be safe...