IRA dropped 20%

alvin · 09-18-2008, 08:38 AM

Don't know 1929. But IRA did drop 20% from January 1st to today

Not sure is this the bottom, or just the beginning?

davidkachel · 09-18-2008, 05:03 PM

Just the beginning I'm afraid. Only one person in government knows what's happening and why, let alone what to do about it, and the rest of them won't listen to him.
We're in for one helluva bumpy ride.

Ron Wood · 09-18-2008, 05:21 PM

Now is not the time to panic and start moving monies around. The sure recipe for disaster is sell low, buy high. When folks get nervous they start selling off their securities for more "stable" investments, but unless the money is needed in the very near future riding out the rough spots will return much more in the long run. I had to wait nearly 10 years to recoup an early investment that was involved in a stock fraud, but I waited it out and doubled my investment in the ensuing 5 years. I am too old to make that kind of wait and see approach for that length of time, but by the same token I am not bailing in the near future.

Most securities based retirement funds have lost 20% or a little more and it is going to take some time, possibly a couple of years, to regain the loss. It certainly is not going to recover as precipitously as it fell.

alvin · 09-26-2008, 08:15 AM

Washtington Mutual Inc. collapsed. Not sure who's going to send new bills..

====

Today is 26 September, 2008. It will be in history book.

John Sabato · 09-26-2008, 12:21 PM

WAMU was siezed by FDIC and purchased by JP Morgan Chase... all monies in that bank are still secure...

Edward Tinker · 09-26-2008, 01:13 PM

They collapsed because of the normal buiness dealings, then people went whacko and pulled their money out, 16 billion in 2 days is what I heard.

Always the same on bank runs, if folks get skittish, they panic and pull their money and it rolls down hill from there.....

zeke1312 · 10-09-2008, 12:28 AM

Now the question.....what impact is this on the price/value of our Luger collections? I'm sure in the long run, OK, but? It's like IRA's, 401K's, etc losing xx%...us older folks don't live forever. To recover from the market losses that is.

alvin · 10-09-2008, 07:49 AM

Not a big deal. Personally, I will keep most of the small collection, and will pass them to the next generation. That's the original plan anyway..... regardless the price going up or down. The most important task is educating youngs so they would love what they will inherit and enjoy.

RWS · 10-10-2008, 04:17 PM

10/10 alvin, the most important task in this life is not to accumulate money but educate.

raygun · 10-11-2008, 07:57 AM

Quote:

Originally posted by davidkachel
[B]Just the beginning I'm afraid. Only one person in government knows what's happening and why, let alone what to do about it, and the rest of them won't listen to him.

Who would that be?

raygun · 10-11-2008, 08:15 AM

Quote:

Originally posted by zeke1312
Now the question.....what impact is this on the price/value of our Luger collections? I'm sure in the long run, OK, but? It's like IRA's, 401K's, etc losing xx%...us older folks don't live forever. To recover from the market losses that is.

When the value of money or investments is dropping through the floor, its always good to own something of substantial value like a house, gold or a luger collection!

davidkachel · 10-12-2008, 12:22 PM

Quote:

Originally posted by raygun
Who would that be?

Ron Paul.

MikeP · 10-12-2008, 04:11 PM

I put a bit in the Federal Thrift Savings and took a pretty good hit.
I think it will recover, but will take a while.
Just good I don't plan to use it for a bit, though.
I would have been smarter to bury it in the back yard as it took a hit last year as well.

Many people with limited funds are uneasy with spending, though.
I went to a big estate sale yesterday.
A stone mint original 1947 Indian Chief went for $19,000. It had been expected to hit 35,000.
Couple cars and a backhoe went reasonably cheap.

09-18-2008, 08:38 AM	#1
alvin User Join Date: Jul 2007 Location: US Posts: 3,843 Thanks: 132 Thanked 729 Times in 438 Posts	IRA dropped 20% Don't know 1929. But IRA did drop 20% from January 1st to today Not sure is this the bottom, or just the beginning?

09-18-2008, 05:03 PM	#2
davidkachel User Join Date: Nov 2006 Location: Texas Posts: 784 Thanks: 0 Thanked 3 Times in 3 Posts	Just the beginning I'm afraid. Only one person in government knows what's happening and why, let alone what to do about it, and the rest of them won't listen to him. We're in for one helluva bumpy ride. __________________ A heroin habit would be cheaper.

09-18-2008, 05:21 PM	#3
Ron Wood Moderator 2010 LugerForum Patron Join Date: Jun 2002 Location: Santa Teresa New Mexico just outside of the West Texas town of El Paso Posts: 7,022 Thanks: 1,090 Thanked 5,179 Times in 1,703 Posts	Now is not the time to panic and start moving monies around. The sure recipe for disaster is sell low, buy high. When folks get nervous they start selling off their securities for more "stable" investments, but unless the money is needed in the very near future riding out the rough spots will return much more in the long run. I had to wait nearly 10 years to recoup an early investment that was involved in a stock fraud, but I waited it out and doubled my investment in the ensuing 5 years. I am too old to make that kind of wait and see approach for that length of time, but by the same token I am not bailing in the near future. Most securities based retirement funds have lost 20% or a little more and it is going to take some time, possibly a couple of years, to regain the loss. It certainly is not going to recover as precipitously as it fell. __________________ If it's made after 1918...it's a reproduction

09-26-2008, 12:21 PM	#5
John Sabato Lifer Lifetime Forum Patron Join Date: Jun 2002 Location: The Capital of the Free World Posts: 10,154 Thanks: 3,003 Thanked 2,306 Times in 1,097 Posts	WAMU was siezed by FDIC and purchased by JP Morgan Chase... all monies in that bank are still secure... __________________ regards, -John S "...We hold these truths to be self-evident that ALL men are created EQUAL *and are endowed by their Creator* with certain UNALIENABLE* rights, and among these are life, LIBERTY, and the pursuit of happiness..."*

09-26-2008, 01:13 PM	#6
Edward Tinker Super Moderator Eternal Lifer LugerForum Patron Join Date: Jun 2002 Location: North of Spokane, WA Posts: 15,935 Thanks: 2,034 Thanked 4,533 Times in 2,093 Posts	They collapsed because of the normal buiness dealings, then people went whacko and pulled their money out, 16 billion in 2 days is what I heard. Always the same on bank runs, if folks get skittish, they panic and pull their money and it rolls down hill from there..... __________________ Edward Tinker ************ Co-Author of Police Lugers - Co-Author of Simson Lugers Author of Veteran Bring Backs Vol I, Vol II, Vol III and Vol IV

09-26-2008, 08:15 AM	#4
alvin User Join Date: Jul 2007 Location: US Posts: 3,843 Thanks: 132 Thanked 729 Times in 438 Posts	Washtington Mutual Inc. collapsed. Not sure who's going to send new bills.. ==== Today is 26 September, 2008. It will be in history book.

10-09-2008, 12:28 AM	#7
zeke1312 User Join Date: Jul 2005 Posts: 167 Thanks: 0 Thanked 1 Time in 1 Post	Now the question.....what impact is this on the price/value of our Luger collections? I'm sure in the long run, OK, but? It's like IRA's, 401K's, etc losing xx%...us older folks don't live forever. To recover from the market losses that is.

10-09-2008, 07:49 AM	#8
alvin User Join Date: Jul 2007 Location: US Posts: 3,843 Thanks: 132 Thanked 729 Times in 438 Posts	Not a big deal. Personally, I will keep most of the small collection, and will pass them to the next generation. That's the original plan anyway..... regardless the price going up or down. The most important task is educating youngs so they would love what they will inherit and enjoy.

10-10-2008, 04:17 PM	#9
RWS User Join Date: Sep 2008 Location: Europe Posts: 34 Thanks: 2 Thanked 2 Times in 2 Posts	10/10 alvin, the most important task in this life is not to accumulate money but educate.

10-12-2008, 04:11 PM	#13
MikeP User Join Date: Jun 2002 Location: ILL Posts: 686 Thanks: 36 Thanked 452 Times in 198 Posts	I put a bit in the Federal Thrift Savings and took a pretty good hit. I think it will recover, but will take a while. Just good I don't plan to use it for a bit, though. I would have been smarter to bury it in the back yard as it took a hit last year as well. Many people with limited funds are uneasy with spending, though. I went to a big estate sale yesterday. A stone mint original 1947 Indian Chief went for $19,000. It had been expected to hit 35,000. Couple cars and a backhoe went reasonably cheap.