Catholic Investing
#21
The only reason I am doing 401k right now is that the company i work for matches a certain percent.  Basically, its' a way for me to get more money out of my company (*shrugs* hey they asked for it... lol).  I also do a stock purchase plan through my company as well, since they give me a good deal on company stock, which guarantees a small profit, once i sell.

We all just gotta weigh our options and try to see where we can accumulate as much as we can.  Though some people are right ,if the holy sheeeeet hits the fan, always know someone who has a better gun and better aim than you.  lol.
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#22
Quote: The only reason I am doing 401k right now is that the company i work for matches a certain percent. 

Good point, I forgot about that.  Obviously stash away enough to qualify for the match.  A 50% to 100% guaranteed profit is hard to turn down.

Be careful about company stock plans.  Ask the poor folks at Enron about investing in the company you work for.  Make darn sure that the company has a solid balance sheet, and good top-line growth.  Be careful with this.

And remember, gold was for the 10-15 yr. timeframe.  I am currently holding back buying any more gold, but I already have some stashed away.  I want to see what gold does in a market crash.  Some people I trust have a target at $700.  If you have no gold, I don't know what to tell you.  You have to decide if you want to take the risk of gold running away and wait for a better price.  I don't know what to tell you.

And remember, you don't have to sell all of it.  You can move 50% out of your stock fund into the money market fund, which is typically available in a 401(k).  My official forecast (granted, an educated guess) is that this dead cat bounce tops out at 1050, with 1 or 2 pull backs likely.  After that, we should get a crash that coincides with poor third quarter earnings. My casino money is currently set up for a pull back to 950, and then a rally above 1000.

For your retirement funds, especially if you are older, this market is pure gambling.  There is no investing involved with it.  You should wait until you can "invest" in sound companies.  That is why I recommend selling at least half of your holdings and parking in the money market  for a year.  It won't kill you, and it will allow you to think clearly.

That's my educated guess.  Good luck.
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#23
(08-03-2009, 05:09 AM)James02 Wrote: Be careful about company stock plans.  Ask the poor folks at Enron about investing in the company you work for.  Make darn sure that the company has a solid balance sheet, and good top-line growth.  Be careful with this.
Worth pointing out the Enron employees had about 14 different choices to invest their 401k dollars in, only one of which was 100% company stock. So, they kinda made a bad decision...

(08-03-2009, 05:09 AM)James02 Wrote: And remember, gold was for the 10-15 yr. timeframe.  I am currently holding back buying any more gold, but I already have some stashed away.  I want to see what gold does in a market crash.  Some people I trust have a target at $700.  If you have no gold, I don't know what to tell you.  You have to decide if you want to take the risk of gold running away and wait for a better price.  I don't know what to tell you.
I haven't bought gold either since it passed a bit over 700, I hold the physical gold, not 'paper gold' (e.g. gold ETFs or mining stock, etc)

(08-03-2009, 05:09 AM)James02 Wrote: And remember, you don't have to sell all of it.  You can move 50% out of your stock fund into the money market fund, which is typically available in a 401(k).  My official forecast (granted, an educated guess) is that this dead cat bounce tops out at 1050, with 1 or 2 pull backs likely.  After that, we should get a crash that coincides with poor third quarter earnings. My casino money is currently set up for a pull back to 950, and then a rally above 1000.
Actually if one is 'older' as you say below, your bond position should quite likely be nearly 50%/half anyway.

The resistance I see in all the data is at 1005, not 1050. Once it cracks 1005 **if** it does, then there's not much resistance until the old 1500.

Poor third quarter earnings are quite likely, and I daresay you're being generous with the pullback. That is, I can't see the S&P being above 900 if there's less than 62% or even <70% of companies miss earnings--- and you can bet earnings guidance is going to be a lot higher after this earnings season!

(08-03-2009, 05:09 AM)James02 Wrote: For your retirement funds, especially if you are older, this market is pure gambling.  There is no investing involved with it.  You should wait until you can "invest" in sound companies.  That is why I recommend selling at least half of your holdings and parking in the money market  for a year.  It won't kill you, and it will allow you to think clearly.
We agree for different reasons. I think older folks (definitely in their 50's, maybe even late 40's should exercise a few extra percentage points worth of 'caution') should have a bond position close to their age regardless, so consider this a portfolio rebalance :)

(08-03-2009, 05:09 AM)James02 Wrote: That's my educated guess.  Good luck.

For once, me and James largely agree.
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