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EricC85 · 07-01-2022, 12:15 PM

I'm taking a bath this year. I always told myself if we had another major downturn I'd dump more in with the theory it'll eventually go back up. My employer matches 50% up to 4% of my pay. I've dumped 5-6% over the last 5 years into it every paycheck. When it started going south I upped my contribution to 10% and then 15% a few months ago. But damn it's getting hard to stomach. I've watch my contribution dump about 5k in the last 3 months and it's down 3k over where I started last year! I know I haven't lost anything yet but it really feels like your wasting your money.

Are you guys still staying in your retirement plans or did you switch out. A few of my buddies switched to a safe plan that they say doesn't grow but it doesn't loose as much as the target date funds. I'm still 25 years out from ever using this money but damn I could use that extra 2k a month I'm dumping into my Roth 401k.

The Real Marty · 07-01-2022, 01:13 PM

When stocks go on sale, that's a good time to buy.

EricC85 · 07-01-2022, 02:27 PM

(07-01-2022, 01:13 PM)The Real Marty Wrote: When stocks go on sale, that's a good time to buy.

That's what I keep reading but damn

mal234 · 07-01-2022, 05:15 PM

I haven't made any changes to my retirement accounts. My Safe Harbor 401K for my part time/part year second job is down over 13%. I put a larger percentage of the paychecks from that job into that retirement account and also into a regular savings account. (I put over 30% of my pay from that job into those accounts.). For my federal government job that I have year-round I invest a smaller percentage towards my TSP and some money also goes towards my pension.

My government job matches up to 5% for the TSP, (I believe the first 3% is dollar for dollar and then they match it like 50% on the last 2 %). My TSP is down too, but I still have all my retirement accounts and are just leaving them alone for now. I also have been investing in some cheaper stocks in the stock market, especially since inflation has taken over. Hopefully things will eventually bounce back for everyone.

p_rushing · 07-01-2022, 07:46 PM

It would depend on your situation. If you have time and enough income, just continue to put what you can in. Obviously make sure you have enough cash for a safety net though. Then put enough to get the match from your company so you don't lose that benefit. I'm down about the same as everyone so I just try not to look at it much. I'll still get dividends and once you have a lot of shares dividends become large amounts.

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EricC85 · 07-01-2022, 08:10 PM

I'm blessed we have very low monthly expenses( big reason why we bought a mobile home on acreage in palatka) one paycheck covers all of our bills monthly so we don't NEED the money I just hate the thought of wasting it.

p_rushing · 07-01-2022, 08:57 PM

(07-01-2022, 08:10 PM)EricC85 Wrote: I'm blessed we have very low monthly expenses( big reason why we bought a mobile home on acreage in palatka) one paycheck covers all of our bills monthly so we don't NEED the money I just hate the thought of wasting it.

I hate it too. I'm putting in 10% and get 6% matched. I have occasionally dropped to the 6% to build saving back up after major purchases but I try to stay at >15% total to keep ahead of all the retirement plan estimates.

As long as the crash doesn't last for years, it will be fine for most younger people.

Plus a have a few GME shares just in case the market does crash and the hedge funds can't cover their shorts will all their capital gone.

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The Real Marty · 07-02-2022, 04:43 AM

If the crash lasts for years it should be GREAT for younger people. Unless, of course, they lose their job. But in terms of investing, what's the first part of "buy low, sell high?" Buy low. So keep buying. Younger people who are putting their money into the market on a steady basis should be very happy when the market corrects or crashes.

The market crashes all the time. Since 1950, the stock market has gone down 10% 38 times! And it's gone down 20% 9 times. And people get scared and fail the most basic test of investing- can you withstand corrections.

If you like to buy and sell, buy and sell, a bear market can wipe you out. If you like to buy and hold, a bear market can be very very good for you. Buy low, sell high.

Stock market corrections and crashes are a feature, not a bug.

KingIngram052787 · 07-02-2022, 08:04 AM

My wife and I both continue to invest in our retirement and our taxable brokerage accounts. No reason to stop, we're only 35. We also have emergency funds held in cash that could last us 6-8 months at our current standard of living if we both lost our jobs.