Thursday, October 9, 2008

I Know, I Probably Shouldn't Be Looking

But I just can't help it. It's sort of a morbid curiosity. With all of the bad news about the economy, it really doesn't mean anything unless it affects me personally. So, I looked at my 401k...again. Last time it wasn't so bad. With my contributions included, it only went down $5,000. This time it is down $14,000 since last year. 20%...Ouch. Ok, that is personal.

I feel bad for the people that are retired or were planning on retiring very soon. They probably have to keep working for a while longer, although here's an article from MSN Money that explains why working a few more years might not solve the problem. How To Rescue Your Retirement If they were smart they might have moved their assets to more stable investments. If they could find any.

I also noticed that one of my stocks made the news. General Motors is down to $4.76. I remember back in 1999 when I bought my first share for $80. Ah, the good old days. Luckily, I'm not depending on GM for my retirement. I'm counting on a nice mix of stocks, rental income, real estate and working forever :) I'm just kidding.


Sharon S said...

Hi there-wow, those GM motors shares have taken a huge dive-its a real shame about whats going on at the moment :-(

Daizy said...

Yes it is. Perhaps I should buy a few more cheap shares to offset the ones I paid $80 for. Or maybe not.