Is black Tuesday coming?

[Anonymous]

I left the money in the funds I had, just shifted new funds to diversify more (can you tell I'm new at investing)  A friend's hubby helped me (he's a financial advisor)...I was just freaking out a bit, I am starting over from scratch w/401k and hate to watch the profit sharing dwindle away

I have at least 20 years left to work - hopefully I can find some good "how to invest" - wish I'd have had the money to buy a few Google shares back in the day!

[Anonymous]

New with 401k stuff.  I have 401k and had it for a couple years now why move it to market money is it safer then keeping it where it's at?

[Anonymous]

I didn't "move" the funds, the guy told me to leave those, but changed where all the future contributions were going to go

The good folks here on Ficoland will always help - it's great having a place one can come to ask for advice, weigh it and use it or not

[Anonymous]

I had my BUY order in if GOOG hits 505

Only got down to 520- DANG IT 

[PayYouNever]

I moved my money into a 4.5% APR checking account in early September when the subprime mess first started to make waves. yeah, I'll take a capital gains tax beating, but since the DOW is down 20% from its high, now is actually a great time to figure out where to buy/reinvest my greenbacks... well, I'm putting money in Euros currently, get that additional appreciation as the dollar continues its downward spiral. Hard to see if it'll ever come back, too.

[Anonymous]

PYN...............good post, I agree with you 100%. I have been in the FOREX for over a year now. Best thing I've ever done. ................well, one of the best.

[Anonymous]

Did you move 401k?  or other funds?  You said you'd take a capital gains hit but I agree with you, it's worth it!

I thought one had to be NOT working with a company in order to close a 401k??!!  Can you tell I'm the Investor 101

[Anonymous]

---

beach123 wrote:

Did you move 401k?  or other funds?  You said you'd take a capital gains hit but I agree with you, it's worth it!

I thought one had to be NOT working with a company in order to close a 401k??!!  Can you tell I'm the Investor 101

---

Capital gains don't apply to 401(k) or other tax-advantaged accounts.  The funds must have been in a regular taxable account for capital gains to even enter into the equation.

[haulingthescoreup]

Hey, beach, if you're starting to get interested in how to make your money work for you, I can recommend a good book that simplifies without dumbing down: Smart and Simple Financial Strategies for Busy People, by Jane Bryant Quinn. She really likes index funds (as do I), so Timothy won't approve, but the book is really helpful for getting an overall picture of the different ways that personal finance works. After that, you might feel more ready to be a Google mogul.

Another book I have is Suze Orman's Women and Money. Suze makes me start grinding my teeth after about 20 minutes or so, but there's some useful stuff in there if you can get past the rah-rah. (I'm just not a rah-rah person.)

And finally, if your local newspaper has 3 or 4 pages in the Sunday business section called "The Wall Street Journal Sunday," they have a columnist named Jonathan Clements who seems to appear every other week. His column is called "Getting Started," and it's really helpful when you start getting overwhelmed with advice.

[PayYouNever]

I've worked as a writer in Hollywood and as a freelance graphic artist for most of my career, so I don't have a 401(k). IRAs and regular investing accounts. I gotta see if I can set up a 401(k) through the freelance agency that I work at.

Honestly, I was reading an interesting article in the NYTimes today about the continued slide that we'll see, that depression is perhaps in the works -- although no one will call it that.