Happy Birthday...your account with XYZ Retirement Fund means a lot to us.
OK, so explain what the heck this means when compared to my portfolio, as it is...
| GENERAL MOTORS CORP (GM) | -82.65% |
This is one of the worst stocks I own...I have a IRA, I send in some money every month, and they take that money and buy specific dollar amounts of stock in each companyI say. Since the company I work for prohibits me from owning stock in tech companies, i sold all the stock I had in Cisco, Lucent, Dell, Gateway, Microsoft, ATT and dear Yahoo. Most of these are on NASDAQ, not the Dow Jones. Most of these ended this week slightly up. Most of my stock, in consumer goods and industrials, went down, some like GM way down. This story replayed itself in my 457 and 401K, which are other retirement accounts. In the last 10 days I have lost about a $1000 per day or more. I am small potatos...I have a friend that is 41, and she has seen her retirement fund shrink by half, well over a hundred thousand doallrs, money she has been saving since she was 21. She was almost crying when she said at least she has another 21 years before retirement to rebuild...
Whichever lame jerk gets in the white house, there better be some serious look into the politics behind this crap, regardless of party.
Only good I see is this positively points out the sheer folly in thinking investing Social Security money into stocks is a good idea, something I have ranted about ever since W said he wanted to do that. My work retirement has the option to add more money to a 401K, with the intent of getting more in retirement. Hahahaha
At least I pulled honey's money out of that IRA well ahead of this mess.
Oh, and for fun today I slammed the patio door shut on my fingers, which has made my middle finger sore...I am sure there is some sort of cosmic justice in that, given the number of times I have extended that finger towards my TV during the last week while exploring new avenues in creative language making while cursing the talking heads and their damn gleefullness at telling us our financial world is crumbling...
No comments:
Post a Comment