How Are You Handling The Stock Market Drop?

[Mayhim]

Are you selling, buying, or hunkered down and just riding it out?

I'll start it...I bought all that I could spare the cash for.

I hope my timing is fairly accurate. Last time I got in on the very lowest day. WooHoo!

[theholycow]

I'm handling it the same way I've handled every bear and bull market...by not having any money to invest.

[GasSavers_BEEF]

no money to invest but my 401K is down 37+ percent.

crap

[Mayhim]

Beef, you will visited in the future by the Dollar Cost Averaging Fairy. She's not as pretty as the You Won The Lottery Fairy, but she's dependable...

[Jay2TheRescue]

Yeah my 401 K is down, but I don't concern myself with that. Its going to be at least 30 years before I collect any money from it anyway. Pleanty of time to recover.

-Jay

[bowtieguy]

i have the same attitude as before the recent decline. that is continue on buying company stock via payroll deduction as it is relatively safe(food); and maintain 401k contributions tho it is down.

the only exception would be that i've lowered my portion of the 401k down to 1%(from 6). that is more related to work being a bit slow than to low Dow Jones confidence. i need $ NOW to makes ends meet.

with the new year around the corner, i'm considering cutting supplimental insurance to further cuts.

very good thread starter!

[Jay2TheRescue]

I understand the need to make ends meet now, but I'd also like to add that now is the perfect time to increase contributions to a 401K. Think of the shares of the funds you're buying into as being "on sale"

-Jay

[Mayhim]

Fortunately, my company's 401k allows a large selection of funds from which to choose. I don't have to buy just one company. That really helps.

I saw this coming last year and changed things to give better performance on the downturn. All my 401k picks are still in the black, though there were a couple that were better performers.

I'm sad that it had to come to this. Congress really screwed the pooch on this one. I hope they don't get away with making everybody think it was just the Wall Street guys' fault.

[bowtieguy]

Jay,

your point is well taken, but we've already made cuts and i was pulling $ from savings to cover bills. a single income for 5 people calls for extreme decisions at times.

if and when consumer confidence returns resulting in work returning to good growth in sales, i will at that time increase my 401k%. besides, we're focused on increasing savings at this time.

maybe we should revisit hypermiling at home to refresh and share ideas.

[bowtieguy]

Originally Posted by Mr Incredible

I hope they don't get away with making everybody think it was just the Wall Street guys' fault.

Boortz brought up a good point today concerning that and the economy. he said some are sooooo misinformed that they are going to vote for change based on blaming a political party for perceived economic woes.