oldbuckster Posted July 14, 2007 Share Posted July 14, 2007 Klipsched.............been watching this stock market go up and down for many many years, land has done nothing but increase, never, I mean never, decreases.............if you sit on something long enough, you'll get your price............It's hard enough today to own your own place, pay your taxes, put gas in your car, food in the cupboards, pay doctor's bills, raise kids, and have leftover to invest in stock market.........and live on a fixed income, I'll be lucky to live in a cardboard box somewhere in the future............but hey, if you don't have your health, what good is money? Quote Link to comment Share on other sites More sharing options...
whamo Posted July 14, 2007 Share Posted July 14, 2007 I have an important decision to make myself here in the next couple of weeks. I currently have a 401k and a pension. Well they're doing away with the pension plan and going to an enhanced 401k program. Now if you've been with the company long enough you can continue with the pension plan (I fit in this category) or you can keep your existing pension at the current rate and switch to the new program. It's quite a dilemma. Quote Link to comment Share on other sites More sharing options...
oldbuckster Posted July 14, 2007 Share Posted July 14, 2007 I have an important decision to make myself here in the next couple of weeks. I currently have a 401k and a pension. Well they're doing away with the pension plan and going to an enhanced 401k program. Now if you've been with the company long enough you can continue with the pension plan (I fit in this category) or you can keep your existing pension at the current rate and switch to the new program. It's quite a dilemma. It's just a matter of time and pension plans are gone......You have a tough decision to make.....I counted on a Union Pension, and when I checked into it, it came out to $20.00 a month........What an insult.......I would rather, just me speaking, have the 401K........can you imagine $20.00 a month pension.........Boy, I was pissed, decided to take a lump sum, and close out the Union Pension........Thought it would be worth alot more, glad I didn't wait until I was 65 to find this out.......Think long and hard, atleast with a 401K you have some control over investments........... Quote Link to comment Share on other sites More sharing options...
whamo Posted July 14, 2007 Share Posted July 14, 2007 Well right now the pension is supposed to give me 9 grand a year if I retire at 65 .That's right now if no more is invested. Do companies still go belly up and people lose they're entitlements. We're talking about Ryder here. I mean like there's gotta be some sort of protection built in right? Mark Quote Link to comment Share on other sites More sharing options...
oldtimer Posted July 14, 2007 Share Posted July 14, 2007 If your plan is insured by the PBGC then there is some protection but it is not necessarily a 100% protection. Is your pension fully funded now? If so that is a good sign, plus by freezing the plan to current eligible workers it makes it easier for the company to meet funding obligations. If the company goes belly up there still is no guarantee that 100% will be provided, and there is a cap involved under the PBGC. You need to do the math regarding what you could build up in the new defined contribution plan which I'm assuming has a company match component. Pay attention to the vesting rules regarding the match. If you elect to stay with the defined benefit plan you should also start your own contribution plan including Roth IRA and other tax deferred or tax free investments for your own protection. Quote Link to comment Share on other sites More sharing options...
oldbuckster Posted July 14, 2007 Share Posted July 14, 2007 Where's ol' COYTEE when you need him, he's pretty smart with this stuff........ooops, we're not talkin' Jubilee's..............I don't believe any pension is fully guaranteed in this day and age.......I question why some many Big Companies get away with cheating their past employee's ? Quote Link to comment Share on other sites More sharing options...
boomac Posted July 14, 2007 Share Posted July 14, 2007 Take your money and put it in the 401K as long as you have control of the investments. The market, over the long haul, has been good to me. You can't time it so you don' try! Real Estate, over the long haul, has been good to me. Location - Location - Location Tax and spenders have hurt me. I think some of them are freakin' thieves. I hear the deficit is down. Of course they don't tell you that! There are still plenty of people willing to lend the US money so I guess that should tell you something. Number twistin' propaganda aside, I'm, at least in the short term, bullish on the market and real estate. I agree there is too much personal debt but we are a "gotta have it now" society and that ain't likely to change. Spread your risk and hope for the best! Quote Link to comment Share on other sites More sharing options...
oldtimer Posted July 14, 2007 Share Posted July 14, 2007 The long haul is the key phrase. Depending on Whamo's age and what is offered in the 401k will be large factors influencing the decision. Quote Link to comment Share on other sites More sharing options...
JJkizak Posted July 14, 2007 Share Posted July 14, 2007 Remember also if the company that you have your 401k with is having money problems there are no safegaurds as to the money in that account. Many horror stories about the money in your account is not there and there is nothing you can do about it lest the CEO goes to jail maybe. The safeguards on a 401k are minimal. If you are leaving the company make sure you roll over the 401k to another bank or investment service (in your name of course) to prevent the company from confiscating your money in case they are in trouble, and it does happen. Example: Enron. Pension and 401k stock. If the company declares bankruptcy the courts can freeze the accounts and tell you----"tough luck" and it is totally legal. JJK Quote Link to comment Share on other sites More sharing options...
artto Posted July 14, 2007 Share Posted July 14, 2007 This is my first post in I don't know how long. And ironically it has nothing to do with audio or music LOL. First of all, when the market is going up, its a no brainer. Throw a dart. Times like these are childs play. Second, the US markets are lagging almost every other international market, of which only two are down. The real question is which are the best of the best to buy (And NO, Cramit, aka Jim Cramer doesn't seem to have a clue either, so if you don't know how to do this you're in good company), and more importantly, will you know when to sell? The market internals are actually not all that great at the moment, they have been weakening. Other indications are giving contradictory readings. And, we are of course in uncharted territory. It's fun to ride the bull. Just make sure that when the bull kicks you off, you don't get gouged by the horns. One other thing, there is no such thing as "What's a good stock?". There are no "good", or "bad" stocks. What's good or bad depends on YOU. And no one can define that but YOU. Unfortunately most of us won't know what that is until we've been through the ropes a few times. BTW, for those of you who know me a little better, I've dropped out of the architecture/landscape architecture profession for the foreseeable future. I now do the trading thing for a living. Last but not least, HI AGAIN EVERYBODY [8-|] Quote Link to comment Share on other sites More sharing options...
RFP Posted July 14, 2007 Share Posted July 14, 2007 I hear the deficit is down. Of course they don't tell you that! Boomac Sure they do told us only last week how much better the deficit was looking. <?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" /> But, what they forgot to tell us was that there is the little matter of 12-billion a month of expenditures that are off budget! Gee, if I could only run my household money matters like that, Id not be posting to this forum right about now no sir, Id be out cruising in my shiny new 07.5 ZO6 Vette!! Cheers, Rob Quote Link to comment Share on other sites More sharing options...
boomac Posted July 14, 2007 Share Posted July 14, 2007 Tell them to trim the budget then! Tell them to quit stealing money from you and me. Fat chance! Worry about things you can control like a 401K. There's folk on this Forum that know more about the 401K than me but I'm pretty sure you can roll what's vested out of the compay plan and into an IRA. The pension is another thing and I do believe some have lost that promise! Government couldn't care less cause they already been in the cookie jar. Quote Link to comment Share on other sites More sharing options...
PhilMays Posted July 26, 2007 Share Posted July 26, 2007 [:@][:S][+o(][8o|][bs][li][N][:'(][*-)] Quote Link to comment Share on other sites More sharing options...
oldtimer Posted July 26, 2007 Share Posted July 26, 2007 Here's the Yes version: In her white lace, you could clearly see the lady sadly looking.Saying that shed take the blameFor the crucifixion of her own domain. I get up,I get down,I get up,I get down.Two million people barely satisfy.Two hundred women watch one woman cry, too late.The eyes of honesty can achieve.How many millions do we deceive each day? I get up, I get down.I get up, I get down.In charge of who is there in charge of me.Do I look on blindly and say I see the way? The truth is written all along the page.How old will I be before I come of age for you? I get up, I get down.I get up, I get down.I get up, I get down. Quote Link to comment Share on other sites More sharing options...
oldtimer Posted July 26, 2007 Share Posted July 26, 2007 or the Spinal Tap version: Stop wasting my timeYou know what I wantYou know what I needOr maybe you don'tDo I have to come rightFlat out and tell you everything?Gimme some moneyGimme sone moneyI'm nobody's foolI'm nobody's clownI'm treating you coolI'm putting you downBut baby I don't intend to leave empty handedGimme some moneyGimme some moneyDon't get me wrongTry getting me rightYour face is ok but your purse is too tightI'm looking for pound notesLoose changeBad checks, anythingGimme some moneyGimme some money Quote Link to comment Share on other sites More sharing options...
DizRotus Posted July 26, 2007 Share Posted July 26, 2007 Fortuantely. I went to cash before things got really ugly, thus preserving profits already realized. The good news is that a correction creates more room for a further advance. But beware of trying to catch a falling knife. Quote Link to comment Share on other sites More sharing options...
IndyKlipschFan Posted July 26, 2007 Share Posted July 26, 2007 some money to be made in here with good companies... nuff said.. by years end, do not say I did not tell ya! Quote Link to comment Share on other sites More sharing options...
oldtimer Posted July 26, 2007 Share Posted July 26, 2007 Thunder only happens when it's raining Players only love you when they're playing... Quote Link to comment Share on other sites More sharing options...
Klipsched with Yamahas Posted July 26, 2007 Author Share Posted July 26, 2007 Direct hit on the Dow w/a SCUD missile......the day was coming! I imagine that will affect some people's net worth, so now just got to wait it out! Quote Link to comment Share on other sites More sharing options...
IndyKlipschFan Posted July 26, 2007 Share Posted July 26, 2007 Oldtimer... In her white lace, you could clearly see the lady sadly looking.Saying that she'd take the blameFor the crucifixion of her own domain. ================================== Wow, never thought of the words here, really sad if this is a lady on her wedding day? Quote Link to comment Share on other sites More sharing options...
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