How much did retirement accounts lose today?

@roger,

roger, Expect a slowdown in ours' and the world economy this coming quarter.

@realjohnboy,

Quote:

Beginning Balance (market value)
+ Interest/Dividends earned
- Withdrawals
+/- Increase/(Decrease) in market value
= Ending Balance.

This information is also generally available online. The person should go to the website of (bank), create a login/password, and they can then check their balances at any time. Values posted typically represent the closing balances from the previous day.

1 Reply

@parados,

We are down in the mid-twenty % from our highs. We are still ahead of the game though, and the dividends, so far, keep coming in.

In the immortal words of my favorite philosopher, A.E. Neumann, "What, me worry?"

1 Reply

@cicerone imposter,

cicerone imposter wrote:

This is a historic day on the stock market; it lost 777 points, the biggest in history.

Those people who own IRAs and/or 401K's, 100% of the people probably lost a huge percentage of their holdings today.

Do you know how much you lost?

You only "lose" if you sell your stock. I didn't sell anything, so I didn't lose anything.

1 Reply

@cicerone imposter,

cicerone imposter wrote:

The market lost over one trillion dollars in value. It seems most people lost about eight percent today.

You know what you're saying isn't correct. Stock prices were devalued to the sum of over one trillion dollars total. Those who sell lose, while those who hold the course don't.

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@cicerone imposter,

cicerone imposter wrote:

Any withdrawal from an IRA or 401k is taxable whether it lost value or not, because it was funded through pre-tax dollars.

Not true for a Roth IRA.

1 Reply

@Miller,

Quote:

You only "lose" if you sell your stock. I didn't sell anything, so I didn't lose anything.

Exactly. I refuse to have hysterics over this. I have stocks (well, not all of them, but most) in excellent companies.

1 Reply

@parados,

parados wrote:

From the high last year, my total invested retirement funds are down 22%.

Even with continued investments, I am below what I had 2 years ago.

True for mnay GROWTH index funds.

1 Reply

@cicerone imposter,

cicerone imposter wrote:

roger, Expect a slowdown in ours' and the world economy this coming quarter.

Expect a recession lasting at least 1.5 years.

0 Replies

@cicerone imposter,

cicerone imposter wrote:

roger, Expect a slowdown in ours' and the world economy this coming quarter.

Expect a recession lasting at least 1.5 years.

0 Replies

@Phoenix32890,

Phoenix32890 wrote:

We are down in the mid-twenty % from our highs. We are still ahead of the game though, and the dividends, so far, keep coming in.

In the immortal words of my favorite philosopher, A.E. Neumann, "What, me worry?"

Yes, the divs are still coming in and remember the BUD deal is still in the works as is the WWY deal.

1 Reply

@Miller,

True.

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@JPB,

I do this regularly, and also pay my bills through the internet.

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@Miller,

That's the reason my funds bounces around more than my wifes'.

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@Miller,

The divs will keep "coming in," but don't expect the past divs to equal future divs. It ain't gonna be there.

2 Replies

@parados,

Are you financially challenged? I lost at least 25% but then I also lost 32% on Black Monday in 1987 and about 12% after 9/11. but because I know that the Stock Market is cyclical. Cicerone Imposter apparently does not understand that, I am $430,000 ahead of where I was in 1987. I just keep investing in good stocks. I have disdained financials. If you need, Parados, I can give you a short course in how to make money--

l. Diversify

2. Do some dollar cost averaging

3. Buy lake front property( That rarely declines much in value)

4. Have some holdings in Municipal Bonds--A low rate but a sure thing.

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@cicerone imposter,

Lost a bundle on paper on 10/06/2008 when the market dropped over 350 points.

1 Reply

Quote:

• The turmoil in financial markets has affected many aspects of the economy, including pensions. The most direct effect on pensions is through the prices of financial assets such as corporate equities and bonds. The Standard & Poor’s 500 stock market index, for example, has fallen by more than 25 percent over the past year as the outlook for the economy and corporate profits has worsened. Because the majority of pension assets are held in equities, drops in stock prices have had a significant adverse effect on pension plans.

• Data from the Federal Reserve suggest that the decline in the value of financial assets cost pension funds roughly $1 trillion"almost 10 percent of their assets"from the second quarter of 2007 to the second quarter of 2008, the latest period for which data are available. There has been a significant further drop in asset prices since the end of the second quarter, and it is plausible that the cumulative decline in pension assets over the past year and a half amounts to about $2 trillion.
• ...
• ...
• ...

Source: Directors Blog - Congressional Budget Bureau

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Dow Jones closes at 8579.

How bad is that?

1 Reply

@squinney,

squinney wrote:

Dow Jones closes at 8579.

How bad is that?

Yeah, it's bad. Off 40% or so on the year -

http://chart.bigcharts.com/custom/cnnmoney2/interact-chart.img?ClientID=44711&symb=djia&sid=1000001643&pg=ch&time=1yr&freq=1dy&comp=%2C&maval=60&lf=1&type=2&mocktick=1&symbtype=0&country=US&rtsid=1000001643&style=2108&size=2&rand=7273

And the bottom is way, way farther down.

Our banks are probably going to be nationalized, socialist style, in order to stop the bleeding.

Cycloptichorn

1 Reply

How much did retirement accounts lose today?

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