My 401k Has Turn To Complete Shit

[King Shizzo]

Vince will probably make more in reparations at this point.

[obsidian]

Went into Fidelity to check the account and its lighter by 8k bucks.  WTF is going on.  So pissed

My crypto portfolio is down by a lot more than 8k. It's down hundreds of thousands of dollars. Count yourself lucky. 8k is nothing.

[deadz]

Went into Fidelity to check the account and its lighter by 8k bucks.  WTF is going on.  So pissed

Peanuts compared to what I’m down peanuts.

[epic is back]

How do you lose 8K from $37.00?

melvin always

tells

the

truth

[Flexacon]

Financial twitter is calling a relief rally. You may only be down 4k next week and then down 16k by end of year.

[epic is back]

Financial twitter is calling a relief rally. You may only be down 4k next week and then down 16k by end of year.

it would be wise, at least for awhile to take money out of stocks and out of banks

they are going to tighten like a guy

millennials are fucked

they own jack shit, and do jack shit

[Vince G, CSN MFT]

the dollar has been devalued

its never going to have the purchasing power it did just 1 year ago


i feel bad for poor people

even making 23 bucks melvin will always be poor

I may drive some old cars, i may live in a singlewide, i may not have brand name clothes like Gucci or Cartier, i may not own a Rolex,  and i may have a lousy job but as long as i got my friends to hang out with, my family, and course my fanbase...its all good


And I'm a Getbig Pwning Machine....Other than Onlyme , nobody has come close to taking me out.  You cry and meltdown at the mods...Keith never did cried to the mods, meltdown like a bitch, or lash out at others....me and him just kept throwing boulders back and forth at each other  24/7 for years, went after each others families, etc.   You are no Keith Jones my friend...you don't have what it takes, you simply don't have the ruthless aggression that he had.   You're just another ant that i choose not to even squash on the sidewalk. 

[Earl1972]

Went into Fidelity to check the account and its lighter by 8k bucks.  WTF is going on.  So pissed

8k should be well worth ending racism thanks to joe biden, right vince?

E

[Dave D]

I may drive some old cars, i may live in a singlewide, i may not have brand name clothes like Gucci or Cartier, i may not own a Rolex,  and i may have a lousy job but as long as i got my friends to hang out with, my family, and course my fanbase...its all good


And I'm a Getbig Pwning Machine....Other than Onlyme , nobody has come close to taking me out.  You cry and meltdown at the mods...Keith never did cried to the mods, meltdown like a bitch, or lash out at others....me and him just kept throwing boulders back and forth at each other  24/7 for years, went after each others families, etc.   You are no Keith Jones my friend...you don't have what it takes, you simply don't have the ruthless aggression that he had.   You're just another ant that i choose not to even squash on the sidewalk.

Vince who from your fan base do you hang out with?

Also are any of your fans crossovers from your wrestling days?

And don’t let anyone sell you short, you’re doing good. It wasn’t that long ago you were bustin your hump at Lowes like Bhanks.

[epic is back]

I may drive some old cars, i may live in a singlewide, i may not have brand name clothes like Gucci or Cartier, i may not own a Rolex,  and i may have a lousy job but as long as i got my friends to hang out with, my family, and course my fanbase...its all good


And I'm a Getbig Pwning Machine....Other than Onlyme , nobody has come close to taking me out.  You cry and meltdown at the mods...Keith never did cried to the mods, meltdown like a bitch, or lash out at others....me and him just kept throwing boulders back and forth at each other  24/7 for years, went after each others families, etc.   You are no Keith Jones my friend...you don't have what it takes, you simply don't have the ruthless aggression that he had.   You're just another ant that i choose not to even squash on the sidewalk.

huh?

[keanu]

8K Vince? When you get old like me start adding zeros to that. There was a meltdown in growth stocks around the beginning of 2021. During the Trump presidency stocks had exploded to crazy valuations. After Trump lost, I kept my dependable stocks like Visa, and Microsoft. Big, money making companies, and dumped all the growth stuff. At the time I had come close to 10x my investments during the Trump presidency. I love the guy. I saw retirement a possibility in 2023. So I sold half my stocks, about 600K off the highs but still took some great profits. Since that time, even the solid stocks have taken a hit although not as severe. I'm probably down around 850K from the highs with more pain to come. When the dust settles many growth stocks could be down 90 plus percent (some already are), and the solid stuff 50 percent. This is definitely a once a generation opportunity and I am waiting for it to bottom. A lot of cash in the account. Hopes of retiring soon have faded. Let the panic selling continue intro the abyss. When inflation is under control, and the upcoming housing crisis is under control we are in for a serious rally. Until then things won't be pretty.

[Vince G, CSN MFT]

Vince who from your fan base do you hang out with?

Also are any of your fans crossovers from your wrestling days?

And don’t let anyone sell you short, you’re doing good. It wasn’t that long ago you were bustin your hump at Lowes like Bhanks.

My fanbase is really my Youtube subscribers although i still hang out occasionly with people who worked in the wrestling business...honestly i stay away from it all

And dont compare me to Bhanks, i worked at Lowes for over 5 years and he couldnt even do 2 weeks🤣

[Vince G, CSN MFT]

8K Vince? When you get old like me start adding zeros to that. There was a meltdown in growth stocks around the beginning of 2021. During the Trump presidency stocks had exploded to crazy valuations. After Trump lost, I kept my dependable stocks like Visa, and Microsoft. Big, money making companies, and dumped all the growth stuff. At the time I had come close to 10x my investments during the Trump presidency. I love the guy. I saw retirement a possibility in 2023. So I sold half my stocks, about 600K off the highs but still took some great profits. Since that time, even the solid stocks have taken a hit although not as severe. I'm probably down around 850K from the highs with more pain to come. When the dust settles many growth stocks could be down 90 plus percent (some already are), and the solid stuff 50 percent. This is definitely a once a generation opportunity and I am waiting for it to bottom. A lot of cash in the account. Hopes of retiring soon have faded. Let the panic selling continue intro the abyss. When inflation is under control, and the upcoming housing crisis is under control we are in for a serious rally. Until then things won't be pretty.

Jeez man, sorry to hear that. 

[Flexacon]

When the dust settles many growth stocks could be down 90 plus percent (some already are), and the solid stuff 50 percent. This is definitely a once a generation opportunity and I am waiting for it to bottom. A lot of cash in the account. Hopes of retiring soon have faded. Let the panic selling continue intro the abyss. When inflation is under control, and the upcoming housing crisis is under control we are in for a serious rally. Until then things won't be pretty.

This is great advice.

This is the kinda stuff Bhanky should be posting. Instead he's busy discussing tan lines and France fries.

[SouJerz]

Went into Fidelity to check the account and its lighter by 8k bucks.  WTF is going on.  So pissed

Considering the market is down about 20% in general s&p 500.  If we are to believe you’re down 8k. 

You had 40,000 in your 401k?

40,000 * .80 = 32,000. 
40,000 - 32,000 = 8000?

And went to fidelity?  Cant you check your account online like most modern day tech savy “head NIC”
Like your self vince.  I’d assume you get the ceo business owner treatment?

[Gym-Rat]

Try looking at a 1/2 million gone, I've been in this 401K thing for 35 years.
It sucks but it "should" bounce back with the market when a Pubtard gets back in, in a couple years.

Try not to look at it..

[GymnJuice]

Just ignore it. If you are like most people and have everything in low cost index funds then your 401k will follow the market. If the market is down then your 401k will be down. But over the long haul its value *should* increase. Unless you are close to retirement you shouldn't sell. As you get closer to retirement you gradually move the money from stocks to less volatile areas (like bonds). This is the traditional thinking as I understand it.

[FitnessFrenzy]

Goodrum, since you are a self proclaimed genius day trader, I would assume you know what is going on.

Besides, the others give excellent advice: Don't look at it. Keep investing, even in downturns.

DCA works best when stocks are falling (assuming you are buying something that will eventually go back up again)

[Gym-Rat]

Just ignore it. If you are like most people and have everything in low cost index funds then your 401k will follow the market. If the market is down then your 401k will be down. But over the long haul its value *should* increase. Unless you are close to retirement you shouldn't sell. As you get closer to retirement you gradually move the money from stocks to less volatile areas (like bonds). This is the traditional thinking as I understand it.

[/b]

Yup, Im hoping it goes back up once these dumb commies are out of office.
Things also crashed years ago under Obozo. Then came back. I made the most under Trumps 4-years.

At 56, I was looking at retiring in 6 years (age 62). If I get let go from this job at age 59 1/2, I can start living off of 401K w/ out penalty.

My plan is to still retire at age 62, live off of 401K for a few years and then put in for real retirement (SS) age age 66 1/2 when its at full value.
I also have a pension which is sort of rare these days.

Again, if these commies crash things even worse, things may never return fully (401K value). Im thinking it will like always, just need Demturdz OUT.
Everything they touch is a massive fail...

[FitnessFrenzy]

Gym rat, you just need buckets of different investments. If you plenty of cash in a safe "bucket" you can easily survice a stock down turn, even in retirement.

[Humble Narcissist]

At least you aren't invested in shitcoin.

[Gym-Rat]

Gym rat, you just need buckets of different investments. If you plenty of cash in a safe "bucket" you can easily survice a stock down turn, even in retirement.

Yup, thx for the info... Now that Im getting close (sort of) I need to look into this more...

[loco]

Went into Fidelity to check the account and its lighter by 8k bucks.  WTF is going on.  So pissed

The value is down, but you haven't lost any money unless you sell.  The value will go back up and then some.

[LurkerNoMore]

When inflation is under control, and the upcoming housing crisis is under control we are in for a serious rally. Until then things won't be pretty.

Personally, I don't see the housing market changing too much.  Yeah, the interest rates are going up and that is cooling the market off, but there won't be a drop or even a crash like in 2008 or so.  That is because when the market took off this time last year, it was with a mostly cash buy foundation.  Buyers had all cash or enough cash on hand to qualify for the stricter lending criteria.  Unlike 2008 when it crashed and left everyone underwater and strapped, the lenders learned their lesson from the screwing they got back then.  It was much tighter this time around with lending and property appraisals. And that is a good thing.  Because I see homes now being listed for $200K over what they are worth.  Sellers don't realize that, yeah.... you can list your home for whatever price you want, but that doesn't mean you are going to get it.  And unless a buyer has a big chunk of cash ready to put down, lenders are not going to give them enough for the remaining over appraisal amount.   And if you have enough cash to buy it outright, you really are NOT going to spend it on someone else's greed.  Unlike 2008, the buyers now were unable to take out mega loans for the prospect of a quick flip in six months.  So while it may take them longer to flip the house on a slower market, the loans are more manageable in terms of $$$ (because of the higher percentage of cash they had to put down) should they find the house isn't selling fast enough. 

I think what we are going to see is the market will continue to stagnate and slow down.  More homes are becoming available for sale.  The people looking to sell for profit has pretty much missed the boat at this point.  The market turned the corner and is now favoring buyers over sellers a little more every day.  The days of a home having a dozen offers on it and a bidding war going on from the first day it hit the market are over.  But with more manageable loans the new owners can rent the homes out and let rent carry the mortgage until it can sell.  In 2008 there was no way you could get enough rent to carry the mortgages that the banks were handing out left and right.

The inflation will cool and historically a recession always follows inflation (not always but the vast majority of the time), the recession I think is coming won't be known for being severe or with a sharp drop/decline, but instead I think it is going to be remembered for it's duration.  I think it is going to be much longer than past ones.

[Freemason]

The value is down, but you haven't lost any money unless you sell.  The value will go back up and then some.

Good point, but it also points out the fact that you don’t HAVE any money until they give it to you. All you have is a $.01 piece of paper statement. They tell you what’s in there and they will decide how much is yours. That’s why I hate my deferred comp accounts.