Unless you live in a cave, you know that the stock market has taken a huge dive since mid-2008. I can only look at my 401K balance with one eye open right now - scary! But I can't IMAGINE stopping contributing some of each of my paychecks to it.
A recent survey from TD AMERITRADE finds that 35% of Americans have cut back the amount they're contributing to their retirement plans — and, get this, 63% have stopped adding any new money at all.
Are you KIDDING ME?
That's like someone who loves cashmere sweaters saying they're going to stop buying them because the price went down. And if you sell your stocks, etc. right now - that's the equivalent of selling your $100 cashmere sweater for $50. What??? Bad move, people. You're going to regret that in the future. I'm getting a HUGE discount on every investment I make in my 401K right now! Same stock(s) - cheaper price. It's such a rush!!!!
This is a great article to read to better understand what's going on, and how it affects your investing...
http://finance.yahoo.com/focus-retirement/article/106502/The-Move-You-Are-Going-to-Regret?mod=retirement-preparation
2 comments:
Are you doing your part to save the economy? There is no goal to lofty for you, is there??
too not to. my bad. I promise I'll grammer check better when I'm your secretary (of state)!!!
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