UGH.. I've been told....

Kristie · 07-10-2008, 12:03 AM

by my financial advisor today to not look at my retirement statement this month. she said June was the worst month since the early 90's and this year, so far is the worst year since the early 70's.

OUCH!!! that sux rock

...i'm not even going to bother looking and there's no way i'm changing anything right now either...the sad part is that i have to stop my payments for the time being until new job starts up, so no buying low for me right now.

as it is, we're learning a VERY hard lesson on municipal bonds. we put some short term money on the ATL runway construction (municipal bond) and have been trying to auction out of it for 4 months now... so far, still a no go on sale AND the interest keeps going *down*. ICK!!! The reason we put it in there was so we could accrue while we were working out the pool/landscape ideas...now, i want to get the frackin' credit cards paid off and give myself some "find a new job" buffer (screw the backyard). but nooooo.....gotta wait *another* month to see if it sells. my bet, it won't.

I'm never buying municipal bonds again - esp if it's only for short term gain. This is a really painful lesson and there's absolutely nothing we can do about it.

Hokuspocus · 07-10-2008, 12:25 AM

I'm sorry that really blows!!! I've never done a municipal bond, and now I never will! I haven't bothered to look at dh's 401k info when it comes, its never good news...Hope things start to look better for you soon!!!

Amanda · 07-10-2008, 07:14 AM

I'm not allowed to give advice, but just a reminder- since 1929, any time the market has been down, the market always goes back up. When will it go up? That's anyone's guess.

Don't make a big change to your 401k investments due to your emotions. If you are well diversified and you are in funds that adhere to the strategy and objective you agree with, there should be no need to change. If you sell your funds you are taking an actual (realized) loss (instead of an unrealized loss- a loss on paper only). I am a supervisor in the retirement plans area of a large mutual fund company and I can't tell you how many people are moving all of their money to a money market. All we can do is try to educate them.

Kristie · 07-10-2008, 09:58 AM

oh i know, the market always goes back up... primarily why i'm not jumping ship or changing anything....I've already learned in the past that you don't make changes on a bear market....you just stay where you are. we all just have to wait for it to go up and all will be fine and accruing once again!

I just find it funny (funny haha) that my advisor actually advised me to NOT look at my statement.

jr_lenz · 07-10-2008, 01:17 PM

ya well I looked at mine and there was a big number looking back at me...to bad it was in RED meaning loss

07-10-2008, 12:03 AM	#1 (permalink)
Kristie Admin/Owner Join Date: Jul 2003 Location: Scottsdale, Arizona Posts: 6,729 Recipes: Thanks: 7 Thanked 18 Times in 18 Posts	UGH.. I've been told.... by my financial advisor today to not look at my retirement statement this month. she said June was the worst month since the early 90's and this year, so far is the worst year since the early 70's. OUCH!!! that sux rock ...i'm not even going to bother looking and there's no way i'm changing anything right now either...the sad part is that i have to stop my payments for the time being until new job starts up, so no buying low for me right now. as it is, we're learning a VERY hard lesson on municipal bonds. we put some short term money on the ATL runway construction (municipal bond) and have been trying to auction out of it for 4 months now... so far, still a no go on sale AND the interest keeps going down. ICK!!! The reason we put it in there was so we could accrue while we were working out the pool/landscape ideas...now, i want to get the frackin' credit cards paid off and give myself some "find a new job" buffer (screw the backyard). but nooooo.....gotta wait another month to see if it sells. my bet, it won't. I'm never buying municipal bonds again - esp if it's only for short term gain. This is a really painful lesson and there's absolutely nothing we can do about it. __________________ www.jetcareers.com Last edited by Kristie; 07-10-2008 at 12:09 AM.

07-10-2008, 12:25 AM	#2 (permalink)
Hokuspocus Jetgirls Member Join Date: Jul 2007 Location: ABQ Posts: 368 Recipes: Thanks: 2 Thanked 5 Times in 5 Posts	Re: UGH.. I've been told.... I'm sorry that really blows!!! I've never done a municipal bond, and now I never will! I haven't bothered to look at dh's 401k info when it comes, its never good news...Hope things start to look better for you soon!!! __________________ http://spyviewacres.blogspot.com/ Just because your paranoid doesn't mean they won't pull you off the plane!

07-10-2008, 07:14 AM	#3 (permalink)
Amanda Jetgirls Plus Member Join Date: Dec 2003 Location: PHL suburbs Posts: 2,193 Recipes: Thanks: 12 Thanked 12 Times in 12 Posts	Re: UGH.. I've been told.... I'm not allowed to give advice, but just a reminder- since 1929, any time the market has been down, the market always goes back up. When will it go up? That's anyone's guess. Don't make a big change to your 401k investments due to your emotions. If you are well diversified and you are in funds that adhere to the strategy and objective you agree with, there should be no need to change. If you sell your funds you are taking an actual (realized) loss (instead of an unrealized loss- a loss on paper only). I am a supervisor in the retirement plans area of a large mutual fund company and I can't tell you how many people are moving all of their money to a money market. All we can do is try to educate them. __________________ Amanda Loving wife of Nick, an Int'l FO for Continental flying the 757/767 based in EWR! We're expecting baby #1 on May 30, 2009!

07-10-2008, 09:58 AM	#4 (permalink)
Kristie Admin/Owner Join Date: Jul 2003 Location: Scottsdale, Arizona Posts: 6,729 Recipes: Thanks: 7 Thanked 18 Times in 18 Posts	Re: UGH.. I've been told.... oh i know, the market always goes back up... primarily why i'm not jumping ship or changing anything....I've already learned in the past that you don't make changes on a bear market....you just stay where you are. we all just have to wait for it to go up and all will be fine and accruing once again! I just find it funny (funny haha) that my advisor actually advised me to NOT look at my statement. __________________ www.jetcareers.com

07-10-2008, 01:17 PM	#5 (permalink)
jr_lenz Jetgirls Ol' School Member Join Date: Jan 2007 Location: Idaho Posts: 888 Recipes: Thanks: 0 Thanked 7 Times in 7 Posts	Re: UGH.. I've been told.... ya well I looked at mine and there was a big number looking back at me...to bad it was in RED meaning loss __________________ He wasn't sure he wanted a baby sister, but he loved her the moment he saw her.

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