Tray and I are both in that same boat - both of us have lost money. I'm down about 1/3, similar to you. Tray is down about 1/4 (she invests a little more conservative than I do).
But we're not panicking yet. We both have many years before retirement yet, and it will come back. I don't know if you follow any financial advisers (some of the popular ones out there do free newsletters and such). Anyhow we receive email newsletters from one that I particularly enjoy called "Everyday Cheapskate". You might check into it.
But she is of the same mindset - don't panic. It will come back. And look at the bright side. For now we are buying low. :)
Please don't panic. It will come back you guys. All of us are in the same boat, but the mattress is NOT the way to go! These are hard time. So many of my competitors are pulling up anchor and going out of the business. I'm so grateful to still have a job.
I knew you weren't serious about it, Susie, but believe it or not, that is exactly what some people are doing! The people who are going to suffer the worst from this mess are those who are at retirement age now. My dad is very upset to see his life's saving lose so much value at a point when they are living off of their savings. Gosh I hope things will start looking up soon.
I quit gambling with the stock market, which means I took ALL of my 401k account last year and put into a money market fund and got out of stocks ....I MADE money every since them and have no losses ..... of course, the interest is very low.....but its safe....I was hemmoraging before.........
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The people who are going to suffer the worst from this mess are those who are at retirement age now. My dad is very upset to see his life's saving lose so much value at a point when they are living off of their savings. Gosh I hope things will start looking up soon.
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