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Down $29,000

January 18th, 2008 at 09:35 am

Well, my net worth certainly took a hit this month. I am down $29,000 in mutual funds just since Dec. 31st!!
I try so hard to make my net worth go up each month by saving and adding to my money market, but i sure can't control the stock market!!

11 Responses to “Down $29,000”

  1. nance Says:

    Mine is down $24,000 since Dec 31st, and $36,000. since October 31st. I'm getting very nervous, and wondering if it is time to transfer everything to a money market fund.
    It looks like the market is going way down again, today.
    Is there an end in sight?

  2. Koppur Says:

    WOW! That's crazy scary!!!

  3. Ima saver Says:

    This happened to me in 2000 and i just hung in there. I would have missed all the nice gains if I had gotten out, plus had to pay all those taxes!

  4. Mr. Meager Says:

    Ima saver is so right. This is so 2000, so I expect the Feds to drop the rates a few times in the next few years.

  5. Grace Says:

    Don't look! That's the only option, short of crying.

    And keep putting money in, anyway.

  6. mom-from-missouri Says:

    We are down around $30,000 also, which is scarey since DH payceck mishap was putting in closer to 30% in his 401K instead of the 22 we thought we had it at...

  7. Dido Says:

    Yes, it's hard to see those drops (I took an $8000 hit myself). But I hope everyone here remembers that you have to invest in stocks for the long term and not try to time them. Mark Hebener has a useful chart in "step 4" of his 12-step program for "treating" active investors (available on ifa.com)--in it he shows the effect of being out of the market on those few days when the biggest gains occur. For the 10-year period from 1997-2006, the overall gain in the S&P 500 was 8.4%. Those who were out of the market on just the 5 best days had returns of only 5.7%, those who were out for just the 10 best days had returns of only 3.4%, those who were out for just the best 15 days had returns of only 1.4%, and whose who were out for just the best 20 days lost money! In investing, you need to decide your risk tolerance for that money--how long are you capable of waiting for that return? If you can wait at least 5 years, you're very unlikely to lose money, and if you can hold money for 10 years, the probability of a loss is almost nil, and the probality of a gain is high. Your time horizon is a major determiniant of how much risk you can bear. If you can keep the money in, it's best to do so and not check the losses. Of course, your personality and personal circumstances also play a role in your risk tolerance, but your time horizon is really factor number one in determining your investment allocations. It's hard not to look at the losses, but you may sleep better!

  8. compulsive debtor Says:

    Sorry to hear about the decline in net worth, Julie. Now, to take your mind off of it, I'm tagging you (see my posting today...)

  9. CanadianSaver Says:

    Yikes. The good thing is, if you're in it for the long term, it'll go up again!

  10. My English Castle Says:

    I'm starting to feel like those folks who won't open their credit card bills--I have no desire to open the fund statements until things get better. But it might be a good time to sneak a bit more in there?

  11. Aleta Says:

    You know what the say, what goes up must come down and vise a versa. So, the time will come when the stocks will go up again. Yes, sometimes it is good to not watch too often about these drops especially if you are divesified.

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