10% sell off in 2 days. Thanks Obama you're helping the economy already.

Hey but look on the bright side, i'm sure off shore accounts will soon get a boost.

11/6/2008 2:37:20 PM

1st

11/6/2008 2:38:22 PM

seriously ... this is why i hate buisness people...

they have no fucking clue what they're doing at all.

None...

11/6/2008 2:38:37 PM

it's not like this happened before the election results as well...

Quote :

"Major : Finance"

[Edited on November 6, 2008 at 2:40 PM. Reason : ^ lol]

11/6/2008 2:38:40 PM

I love it !

Finally making some money this Q

Maybe I can stop shopping at Aldi now

11/6/2008 2:39:36 PM

what, did you just short everything you could get your hands on?

11/6/2008 2:40:15 PM

silver surfer...give me your board!!

[Edited on November 6, 2008 at 2:40 PM. Reason : f]

11/6/2008 2:40:41 PM

Obama is likely to raise capital gains taxes. This could be a reason for some to sell now rather than in 6 months.

11/6/2008 2:45:20 PM

ding ding ding

11/6/2008 2:47:20 PM

^^first smart comment in this thread

and don't be fooled, he IS gonna raise that shit to like 35%.............asshole

[Edited on November 6, 2008 at 2:47 PM. Reason : ]

11/6/2008 2:47:20 PM

^^^uh ya think?

no to mention the estate tax implications.....hense my reference to off shore accounts

[Edited on November 6, 2008 at 2:49 PM. Reason : .]

11/6/2008 2:47:25 PM

double ftw

[Edited on November 6, 2008 at 2:49 PM. Reason : damnit]

11/6/2008 2:48:45 PM

Hence why Republican economic ideology wins. Rich people are greedy. Poor people are lazy. Therefore, at the very least, give people to work and invest in this country.

11/6/2008 3:06:34 PM

Quote :

"Obama is likely to raise capital gains taxes. This could be a reason for some to sell now rather than in 6 months. "

11/6/2008 3:08:22 PM

lets not over look poor retail earnings and expectations of high unemployment when the report comes out tomorrow.

The idea of selling now for capitol gains makes sense, if you've been in the investment long term.

[Edited on November 6, 2008 at 3:17 PM. Reason : ]

11/6/2008 3:16:00 PM

well in order to have a capital gains tax, you actually have to have a gain ($1000 in and pulling out $800 is just a loss). I promise most of the people selling prob arent reporting gains, but are bailing out and starting fresh when the market turns

*By the way, this is the biggest dump of DOW, SP, Nas post election
http://www.bloomberg.com/apps/news?pid=20601087&sid=aj_ayFUP0riQ&refer=worldwide

*you can also take the loss and write it off

[Edited on November 6, 2008 at 3:23 PM. Reason : oh yeh]

11/6/2008 3:21:56 PM

^lulz

11/6/2008 3:38:09 PM

most people are expecting a "change" quickly... this is gonna take beyond this presidency

11/6/2008 3:40:32 PM

^ very few people recognize this at all

11/6/2008 3:41:24 PM

You mean starting a war wont end this??????

11/6/2008 3:48:28 PM

Also...
Everyone needs to watch your 401ks as it will be taken from you and given to Social Security...I'm already starting to move my funds into IRA accts and if these people move on what looks like pension robbery then I will cash out and hide it. Im only 22 but its still my money so Im protecting the best I can. Or do a rollover IRA to avoid your 401k collapsing, SS is either gonna tank or the gov is going to rob everyone to boost it up. (in my opinion)

11/6/2008 3:51:49 PM

exactly what makes you think an IRA is going to be different than a 401k?

you know both are invested in stock market, right?

and you'd be a fucking moron to move money out of a 401k right now, monetizing your losses is not the best investment strategy.

[Edited on November 6, 2008 at 3:54 PM. Reason : ECU takes anyone. ]

11/6/2008 3:53:09 PM

^^wtf are you talking about?


If this is your line of thinking, you might want to look at buying your first house......

[Edited on November 6, 2008 at 3:54 PM. Reason : ]

11/6/2008 3:54:10 PM

Quote :

"Im only 22"

11/6/2008 3:55:45 PM

is that his age or IQ?

11/6/2008 3:56:13 PM

this thread is o7

11/6/2008 3:57:34 PM

Quote :

"I love it ! Finally making some money this Q Maybe I can stop shopping at Aldi now"

I was being a wise ass

no money in my pockets

I went from rich as a bitch to broke as a joke

11/6/2008 3:59:12 PM

are you serious... take a look

Be part of the $2 trillion loss, and pump money into losses
http://www.breitbart.com/article.php?id=D93LQAA80&show_article=1

or

Benefit at the young age from an IRA...its pretty simple math

11/6/2008 4:00:04 PM

so explain to us why your ira is a better vehicle than a 401k

[Edited on November 6, 2008 at 4:01 PM. Reason : i mean, most of the one's that'll end up debating you here fund both]

11/6/2008 4:01:00 PM

^
IRA's is the route Buffett said in FORTUNE to take if you have only $3-4 k in retirement/ira argue with him

11/6/2008 4:02:09 PM

Obama hasn't even gone to office yet and people are already complaining that he's the one doing this.

11/6/2008 4:03:15 PM

that's not what im asking.

im asking why you think that you should liquidate your 401k in favor of an ira and insinuate that it'd be "safer"

11/6/2008 4:04:09 PM

diversify in both but for regular IRAs, your contributions are tax-deductible, and you pay no taxes on gains made until you start withdrawing the money during retirement to name one

also IRAs almost always have more investment choices than 401k's

* Look dont get offensive, its your money do whatever the fuck you want...

[Edited on November 6, 2008 at 4:06 PM. Reason : .]

11/6/2008 4:04:26 PM

You're getting awfully worked up over just a few thousand dollars....

11/6/2008 4:06:29 PM

well do you know what a few thousand dollars in an IRA is when your 60.....


$3000 IRA

(rough estimate)
$ 1,414,016.93 http://www.planningtips.com/cgi-bin/annuity.pl

11/6/2008 4:09:54 PM

Quote :

"well do you know what a few thousand dollars in an IRA is when your 60..... $3000 IRA (rough estimate) $ 1,414,016.93"

wat

11/6/2008 4:16:48 PM

Who let the stupid into this thread?

11/6/2008 4:18:34 PM

Quote :

"Everyone needs to watch your 401ks as it will be taken from you and given to Social Security."

what is your basis for this claim

11/6/2008 4:19:33 PM

Quote :

"well do you know what a few thousand dollars in an IRA is when your 60..... $3000 IRA (rough estimate) $ 1,414,016.93"

I'd say it's rough.

[Edited on November 6, 2008 at 4:26 PM. Reason : #]

11/6/2008 4:22:44 PM

I too max out my IRA

11/6/2008 4:24:30 PM

waiting for the inevitable parody thread

11/6/2008 4:27:30 PM

1)
nattrngnabob
It’s not that unrealistic dude
I guess if I was 31 and didn’t understand how investments work, I would be ignorant too

2) When SS was created
A) The life expectancy was significantly lower than it is today
B) With this being said, more money is being pumped out of the system more each year than the last
C) Unemployment is going up, with smaller workforces

http://news.ucan.us/modules.php?name=News&file=article&sid=13

Quote :

"The government has no money. The money it spends, by the trillions of dollars, is the taxpayers’, yours and mine. All that can be done about the older workers, that have little time for the magic of compound interest to work, is to fund, in all or part, their retirement out of the general tax revenues of the Federal Government. This will be a burden on the workers who have to supply the funds for their own retirement and also provide all or part of the funds for the retirement of those retiring under the old system, but it is all that can be done"

If gov has no $, they have to get it from somewhere...why not 401ks? Again, its your money do whatever you want with it... hide it under a mattress for all I care

11/6/2008 4:30:14 PM

Quote :

"nattrngnabob It’s not that unrealistic dude I guess if I was 31 and didn’t understand how investments work, I would be ignorant too"

ahaha homey go plug in some numbers into that calculator......


Beginning balance of account

$ 3,000.00

Initial monthly contribution

$300

Time until retirement

38 years

Estimated annual yield (before ret.)

8.5 %

Estimated annual yield (during ret.)

6.5 %

Estimated annual inflation

4.5 %

Estimated annual contribution increase

4.5 %

That will net you roughly 1.4 million.

[Edited on November 6, 2008 at 4:40 PM. Reason : a]

11/6/2008 4:34:49 PM

Quote :

"If gov has no $, they have to get it from somewhere...why not 401ks? Again, its your money do whatever you want with it... hide it under a mattress for all I care"

401k accounts are not accounts with the government. These accounts are provided by private banks. Are you saying that the government will just take money from our bank accounts?

11/6/2008 4:41:17 PM

I wrote an annuity calculator page in perl for a high school math class once! LOL

11/6/2008 4:43:02 PM

^^
would you be suprised?

[Edited on November 6, 2008 at 4:48 PM. Reason : ^]

11/6/2008 4:43:20 PM

Yeah. I think they would just print more money and send inflation through the roof. In that case it doesn't matter what account your savings are in.

11/6/2008 4:46:05 PM

yay saving for retirement

[Edited on November 6, 2008 at 4:47 PM. Reason : kjdkj]

11/6/2008 4:46:39 PM

Quote :

"ahaha homey go plug in some numbers into that calculator......"

Thats what I put in mine, compounding it’s a phenomenon

[Edited on November 6, 2008 at 4:47 PM. Reason : .]

11/6/2008 4:47:39 PM

just invest in baby related products and companies since on 12/21/2012 there will be a huge baby boom bc its the "end of the world"

11/6/2008 4:50:10 PM