[at-l] Sell!!!

[Jim Bullard]

My wife wanted to retire in 3-4 years but is now looking at 7-8 (with luck).
She's lost probably a third of her pension fund so far and it is still
dropping.

Jim Bullard
http://jims-ramblings.blogspot.com/


2008/11/20 Ken Bennett <bennettk at wfu.edu>

>
>
> 2008/11/20 Jim Bullard <jim.bullard at gmail.com>
>
>> That is what puzzles me too. I think what happens is akin to "It's A
>> Wonderful Life" where Mr. Potter is buying up everything at bargain basement
>> prices. Those with money they can afford to lose wait until sellers are
>> panicing and the price is bottoming out, then buy for pennies on the dollar,
>> sort of like a garage sale on stocks. The risk is that the company you buy
>> could actually go belly up and you lose if that happens. If you are rich
>> enough you spread what you buy among many stocks and when the market finally
>> goes back up your gains far outstrip your losses, then you own everything in
>> sight and you get to rename the town to Potterville or in your case
>> Felixville.
>
>
>
> Well, I'm hardly rich enough for that sort of thing. However, I'm just
> letting it ride, and keep putting my 403b contributions mostly into stocks.
> The idea is that I'm buying (well, TIAA-CREF Is buying) at the lower prices
> and we'll make it back when the market moves back up. Might take 15 years or
> so, but that's about how long I have anyway.
>
> My father, on the other hand, is trying to retire right now. With a lot
> less money than he thought he had. Not good.
>
> --Ken
>
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