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jengirl4101 · Mar 3, 2009, 06:24 AM

Should I convert my 401k funds into cash or some other safer type of investment?

jcevans1017 · Mar 3, 2009, 07:20 AM

No. It is at the bottom now so the best thing you can do is hold on till the market recovers.

jengirl4101 · Mar 3, 2009, 10:42 AM

You say the market is at it's low, but looking at yesterday and today's performance are you still of that thought? Many professionals have a different opinion and that is that we are on a downward spiral and it is only getting worse. What makes you think we are at the bottom? It seems every time Obama opens his mouth the market takes a direct hit. What's up with that?

kp2171 · Mar 3, 2009, 11:00 AM

The same thing would happen if the markets listened to glenn beck, conservative talk show host. He's been talking about how screwed things are for over 1.5 years. So speaking the truth is bad, it seems. He was getting noise from listeners when bush was prez.

Do what you want. I'm not going to cash out my 401k at this point... sure I've lost a ton, but now isn't the time to pull... I am young enough, have time to recover, and have enough diversity to work through this noise.

I'm not willing to say we are at the bottom, and I'm not going to say we are circling the drain. Its going to be an ugly '09 and probably '10...

I'm a registered (R) who crosses party lines as needed. You don't have to like obama's plans, but to give the guy flack when he talks about how ugly things are, and to blame the market volatility on him... really is short sighted.

I believe mccain could be in there and still the markets would be sputtering... this slide was put into motion a long time ago and its going to take time to slow.

In the meantime, ill keep dollar cost averaging, look for cheap stocks, and not yank my money out when the market is down.

But I don't know your situation, your age, your projected time to retirement, your income, your financial goals, your diversification...