~Radiohead ("bodysnatchers"...NOTE: the new album is AMAZING!)
As if this day needed more stress or negativity...
i returned home from a rough work week to open an envelope detailing my first quarter investment returns, since i just started my first 401K in October. i know, i know....i'm an adult now! Apparently one who is totally screwed when it comes to investment....
i saw $(6.55) on my returns, and for some reason thought that because i didn't see a negative sign, i was in the clear. Oh, innocence. Okay, losing 6 bucks isn't too bad, but because each and every one of my directives cost me money except for my 30% in interest, this was a good incentive to get online and take a look at what i'm doing with my large chunk of change i'm setting aside each month for retirement.
Then, the shit hit the veritable fan. Apparently, for those of you who follow the stock market as little as i do, the market is a complete disaster right now. According to my dad, whom (i have to admit) i called immediately, our country is heading towards this little thing some call a "recession." i thought $6.55 was bad? Try $90.96 in the hole now. Blast. That means i've lost almost $85 in TWO FREAKING WEEKS.
What a way to start 2008. i ended up changing everything, in a move my dad defined as "chasing gains." Hopefully this quarter, i won't be seeing the evil parentheses. If i do, at least i know where i keep my beer.
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2 comments:
hey whoa, don't freak out too bad - unless you're planning on retiring this year that is. i don't know how you have your investments set up, but i know that my options are broken down pretty much into "return over x number of years" where the x varies from say 5 years on up to more than 10 years. the market sucks right now, i know. but there are lots and lots of people who are paid a whole shit-ton (pardon my french) of money to get it on track and keep it on track.
the thing i'm really worried about would be another rate cut by the Fed - it's like blood doping or a shot of adrenaline in the arm, works well for a few months then wears off and the economy's worse off than before. in my own opinion, the entire country should be trying to shift economic worldviews to a sustainable economy, but that's just wishful thinking right now. the thing to be sure of is that the economy will right itself again and probably before you retire.
I love that this post makes you:
1) sound like an old man
2) sound like an alcoholic
3) sound like me
I heart Katie Klug.
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