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Ginger

Question for those with a 401k or IRA. Do you approve of the current bailout plan?

John P:

I guess our 401 and stock will say bye bye.

Ginger:

Thank you for your answer, Patpat.

Mamamadu:

NO... I'll wait it out! The market will come around in a couple years I'm sure!

Ginger:

Thank you for your answer.

MaggieD:

I have lots of IRA's, lots of stock....and lots of cash (from liquidating out of the market several months ago). No, I do not support it. There are other ways. This is merely the beginning. This is not the final answer. This is being rushed through without careful consideration, without looking at ANY alternatives. That in itself is a big red flag to me.

Michelle:

I liquidated all my stock holdings the 3rd week of August. I saw it coming and had some great insiders who were on top of making sure I got the best for my investment. I took a loss but not like I would have if I'd still be hanging on to those stocks!

MaggieD:

Yeppers. I did the same. I think lots of us saw this coming. I did keep some stocks (good ones) that pay dividends. They'll be pretty good -- have held tight. Good for you for being willing to take the loss. I did the same on some, but at least I know my cash is safe. "Bulls make money. Bears make money. Pigs get slaughtered." Wanted to make sure I wasn't a Pig!!!

Ginger:

Thank you, MaggieD & Michelle

Michelle:

I'll be doing no grunting or oinking when it falls apart. Perhaps snickering but never oinking...
Pissed about the loss that I ate, but glad that it wasn't more. I've found a new investment strategy that I'm finding well worth my funds and will be running in that direction for a while...
I know some Americans of another time such as this that made their fortunes off of unwise spending practices of others.
Peace ☺

Ginger:

Caution, Michelle. Most well thought out strategies work some of the time, but none work all of the time. As a general rule, the market falls about three times faster than it rises.

Michelle:

No, I don't.
I know that the bailout will not address the issues of poor accounting and mis managing funds. I know that it's already affecting my retirement and near as I can tell, I will qualify for retirement at 69 years old as it is. Affording it is yet another matter entirely.
I am Anti-Bailout. I do not agree with bailing out the irresponsible.

Ginger:

Thank yo for your answer, Michelle.

Scott:

I think it's a consipiracy set up to let the government take control of all the major financial firms so by the time this is over there isn't anything you can do that won't end up giving the government more money

Ginger:

Thank you for your answer, Doc.

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