401K

i have 25 months left with the city, then i'll draw state retirement and go to work somewhere else. but i wont be touching my 401K for another 15 years or so.

 

Make sure you are properly allocated. The righ mix of stocks and bonds/cash will make you sleep much better at night. I was balls to the wall stock until Monday. For my age, that's not bad since I have 25+ years to retirement. My emotions told me otherwise and I decided to reallocate.

 

I was responding to the sad state of financial affairs in general.
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My annuity and mutual funds are down 40+%.

 

Good deal. It only took until 1954 for stocks to reach the same levels they were in 1929 prior to that crash. You should be fine.

 

You're not alone.

 

Hopefully you have some fixed income instruments and not completely invested in the market

 

My profit sharing and tax deferred savings plan. Down down flatline down.

 

I think to compare fairly, you'd have to go back to 2000 for our crash. That was Nasdaq 5000......

Stocks weren't in a bubble nearly as much as housing was this time around. That said, earnings will be greatly affected by the crisis, and financials - which weigh heavily on the indexes - are disappearing.

So - while the current situation smells like the depression, it's more like the mid-1930's version, where the big crash already happened several years back.

 

The annuity has a "floor"/limit that it cannot go below, supposedly. However, they have ten (10) years to pay that "principle." I'm not sure of all the ends and outs, I need to research. My money man hasn't called in a while, not surprising.

 

I went ahead and maxed out my Roth-IRA for the year yesterday. Today, I evenly spread the money between seven mutual funds. It's time to press folks.