MSilvia
Contributor
Like people, when stocks dive, the good ones are bound to come back up at some point.
@#*(%^'ing market
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Spectre
Contributor
The ultimate stock investor saying is "Buy low, sell high", but when everything is down, you can't buy low without selling low!
OP
..I know it is the worst time to sell and that it is definitely the right time to buy...I still allocate about 85% to stocks, so we will see what happens in 5-10 years.
Still...that Gavin or Apollo is looking like a damn good investment...and think of the fun sailing around the wreck!
Still...that Gavin or Apollo is looking like a damn good investment...and think of the fun sailing around the wreck!
I'm still watching my "ringer" stock waiting for it to get just a little bit lower to buy, all I have to do then is hope that Intel goes out of business to give the company some room in the market (crosses fingers chanting, "c'mon Intel has to have some dirty accounting somewhere.") 
Kinda sad that it's gotten to that point, 'eh?
Kinda sad that it's gotten to that point, 'eh?
Welshman
senior member
Just to add to the doom and gloom remember that although the market is low it can go lower still! Today's Times points out that the FTSE index still has a lot further to drop to reach the equivalent of the 1974 Bear Market.
DivePartner1
Contributor
If you stay in the market 10 or 15 years, you'll probably get your investment back. Or you could buy the dry suit and enjoy the next 10 or 15 years. Decisions, decisions.
Spectre
Contributor
I so hope you don't have any plans to work a suicide hotline or something like that!
OP
Borrow against 401(k) balance and pay myself back...only drawback I can see is if I don't get the principal back in there before the market rebounds. If the market stays stagnant, nobody gets hurt
SPEEDSTER
Guest
you get hit with a penalty for taking out all or part of your 401k, then you have to replace what you took plus the penalty to be back where you started.
Spectre
Contributor
Originally posted by SPEEDSTER
you get hit with a penalty for taking out all or part of your 401k, then you have to replace what you took plus the penalty to be back where you started.
Not on a loan you don't. However the downsides of the loan really aren't worth it. First, you have to pay interest. Yes, it's to yourself, but you still have to pay it. Secondly, you get taxed on the money you take out, plus the interest going in is from after-tax money.
So whatever principal you take out, you have to pay taxes on, and then pay it back, and pay taxes on it again when you take it from your 401(k) at retirement.
Also, a lot of 401(k) plans have restrictions on the loans. e.g. limiting what you can use that money for, like a down payment on a house or a childs college tuition.
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