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GM news fuels worry

XLR-V Lover

Seasoned Member
Joined
Oct 16, 2008
Messages
536
Location
Florida
My XLR/V(s)
2008 Black XLR-V
Unfortunately, Floyd, my point of reference are many of the people of my generation. We were so busy working and raising families that we (foolishly, we now know) trusted that our 401K trust administrators were handling our $$ in our best interest as represented by the companys we worked for. We feel like we've been duped. Now at the time of our lives when we should have all those "projected" $$'s to retire they have dwindled to the point where we will probably be in nursing homes before they recover. For many people, recovery time has run out. My next door neighbor is 78 .... I don't think he will be doing much with his recovery $$ in 10 years ...

If someone has already retired and using their 401's .... they probably are not living at the same level they were 2 years ago .... or making bigger and better plans ... If they are, name names ...... I want them in Washington to solve this crisis.

Ruthie,

I guess you were referring only to company-backed 401Ks, not individual investors in the Market. Even so, I know many didn't pay attention to where their $$$$ was being invested, but you did have the ability to move in or out of various funds. At least I hope most companies are set up to allow that. So, if you were able and kept at least one eye on your finances you should still be in fairly good shape. But, allowing your investments to run on auto-pilot certainly wasn't/isn't the way to go.

It's like your physical health, it's up to you to take the best care of yourself.

Floyd (BB)
 

Lola's Mom

Seasoned Member
Joined
Aug 6, 2008
Messages
3,483
Location
Southern CA
My XLR/V(s)
2004 Black Raven
There's always a job opening for a huckster :lol:

I don't things will change in government .... just names and faces. :rolleyes:

Floyd .... it was "auto-pilot" for me .... I put way too much trust in others .... Shame on me.
 
M

mswaim

Guest
I guess I should clarify since my 401 is a running joke here at our place. It has taken a hit over time as most have, but it's far from flat. Luckilly the company I work for is privately owned, completely debt-free and overall revenue grew by 8% world-wide last year with our goal being another 7% this year.

The premium market is shrinking, but bless their hearts - as wine drinkers tone down their tastes; we have plenty of options for them and the silver lining is the fact the lower priced products have higher margins of return!

So please; feel free to drown any sorrows you may have in mid-priced wines. My profit-sharing account will love you for it!
 

SilverX

Seasoned Member
Joined
Oct 18, 2008
Messages
52
Location
Las Vegas
My XLR/V(s)
2008 Light Platinum XLR
I keep thinking about all the GM folks with an auto-pilot 401K, where most of the money is (or was) invested in GM Stocks... :pat:

WHAAAAAAAAA.....:(

SilverX
 

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