Don't sweat your 401(K). If you have it in stocks, it's because you won't need the money for a very long time, and the market will come back.
If you need the money next week, you should have been in bonds already, and the stock market shouldn't matter.
Just don't panic and bail out now. The time to get out has passed, so now you just need to ride it out. If you sell now, you'll only buy back in later at a higher price, and the same money will buy fewer shares of your favorite mutual funds.
Had you sold out a year ago at the peak, now would be the time to put the money back in, so in either case you'd be in the market right now.
If you had put all of your 401(k) money into nice, safe T-Bills your entire life, you'd have less money now than you do even taking the recent crash into account. So relax!
(I'm selling if the market ever gets to 12,000 again...) ;^)
If Obama wins, kiss 12,000 goodbye. And if you’re lucky enough for it to reach 12,000 again, well, Obama will tax it anyway. It’s a no-win situation . . . unless McCain wins.
Who says? Between 1966 - to the end of 1982 the market produced a return of 1.62%
There is no reason for the market to ever come back. If you are paying attention the WORLDS FINANCIAL systems has collapsed.
The people who buy and hold are sitting in their chairs as the house is burning down.
You account falls 50% you now need to have it move 100% to get even.
Good luck.
That's foolish advice. I went to cash in December 2007 and right now is the absolute worst time to go back into equities.
Pay attention to the credit market - not the stock market. You're watching the wrong game - and it will be to your economic peril.