13 October 2008

401k and the stock club

Have you looked at your 401k balance? I did. I have two accounts (one is a rollover IRA) and I'm down about 30% in both. Ouch.

Good thing I'm 30, though. In theory, I have 35 years to make up that money, and I will. I feel okay about the fact that the market will recover- between what is happening across the world now, and th new president, things will get better.

My friend suggested that we start a ladies' stock club since we can actually afford stocks right now. I love this idea and I'm going to open an account today during naptime. This morning on the news one of the financial advisors quoted Warren Buffett, saying "Have greed when others have caution, have caution when others have greed" (That isn't the right quote because my kids are shreiking and I can't think, but that was the jist of it.) The point is, prices are lower than they've been in 25 years and most of us are young enough to wait it out. So, I'm in.

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