Stock Market

[mac5155]

Zing!!

I did just get my "statement" so to speak. In 6 months I have about a $1300 balance. I'm not contributing as much as I'd like just because of school loans, etc, but I am contributing the same as my employer's 100% match. I think they match 100% of the first 3% and 50% of the next 5%.

It's probably worded slightly different... 100% for the first 3% and 50% up to 5% is pretty standard. If they are going to give you 50% on the next 5%, take it. Actually, either way, bump it up to maximize their match. If it's up to 5% like I think it is, you will not feel that 2% in your net take home since 401k is pre-tax.

Also, as you build up the balance, consider taking out a loan to pay off some of your debt. You will be making the same payments, but YOU get the interest instead of the creditor.

*a loan on your 401k

What do you mean? Use the 401k as collateral?

[Guinness]

That there are no signs that point to an impending recession can be easily 'assigned' to the fact that the recession-makers are also the sign-installers.

[bhaw]

Zing!!

I did just get my "statement" so to speak. In 6 months I have about a $1300 balance. I'm not contributing as much as I'd like just because of school loans, etc, but I am contributing the same as my employer's 100% match. I think they match 100% of the first 3% and 50% of the next 5%.

It's probably worded slightly different... 100% for the first 3% and 50% up to 5% is pretty standard. If they are going to give you 50% on the next 5%, take it. Actually, either way, bump it up to maximize their match. If it's up to 5% like I think it is, you will not feel that 2% in your net take home since 401k is pre-tax.

Also, as you build up the balance, consider taking out a loan to pay off some of your debt. You will be making the same payments, but YOU get the interest instead of the creditor.

*a loan on your 401k

What do you mean? Use the 401k as collateral?

No, most 401k's allow you to take your money out as a loan (usually up to 50% of your balance). They send you a check. You can only use it for certain things, but I can't remember what those are. So if you have a 5k balance, you can take out 2500 as a loan FROM yourself. Then you pay it back with interest, but you are paying your 401k. So you are putting more in than you took out. It may even provide a better return in a soft market like this.

[mac5155]

That there are no signs that point to an impending recession can be easily 'assigned' to the fact that the recession-makers are also the sign-installers.

[mac5155]

Zing!!

I did just get my "statement" so to speak. In 6 months I have about a $1300 balance. I'm not contributing as much as I'd like just because of school loans, etc, but I am contributing the same as my employer's 100% match. I think they match 100% of the first 3% and 50% of the next 5%.

It's probably worded slightly different... 100% for the first 3% and 50% up to 5% is pretty standard. If they are going to give you 50% on the next 5%, take it. Actually, either way, bump it up to maximize their match. If it's up to 5% like I think it is, you will not feel that 2% in your net take home since 401k is pre-tax.

Also, as you build up the balance, consider taking out a loan to pay off some of your debt. You will be making the same payments, but YOU get the interest instead of the creditor.

*a loan on your 401k

What do you mean? Use the 401k as collateral?

No, most 401k's allow you to take your money out as a loan (usually up to 50% of your balance). They send you a check. You can only use it for certain things, but I can't remember what those are. So if you have a 5k balance, you can take out 2500 as a loan FROM yourself. Then you pay it back with interest, but you are paying your 401k. So you are putting more in than you took out. It may even provide a better return in a soft market like this.

Interesting. thanks!

[bhaw]

No problem. But I would seriously bump your contribution rate up to whatever the max your company pays on. It's "free" money. Where else can you give $50 and get $25 on top of it instantly?

[KennyTheKangaroo]

No, most 401k's allow you to take your money out as a loan (usually up to 50% of your balance). They send you a check. You can only use it for certain things, but I can't remember what those are. So if you have a 5k balance, you can take out 2500 as a loan FROM yourself. Then you pay it back with interest, but you are paying your 401k. So you are putting more in than you took out. It may even provide a better return in a soft market like this.

keep in mind that if you leave your job where your 401k is held, you have to pay any loan back in 90 days or so.

its a very delicate decision to take a loan out of a 401k. be very careful.

[Ossa]

Dow futures are down about 300

[bhaw]

No, most 401k's allow you to take your money out as a loan (usually up to 50% of your balance). They send you a check. You can only use it for certain things, but I can't remember what those are. So if you have a 5k balance, you can take out 2500 as a loan FROM yourself. Then you pay it back with interest, but you are paying your 401k. So you are putting more in than you took out. It may even provide a better return in a soft market like this.

keep in mind that if you leave your job where your 401k is held, you have to pay any loan back in 90 days or so.

its a very delicate decision to take a loan out of a 401k. be very careful.

Well of course. You definitely always want to read terms, etc.

[mac5155]

some relief at the pump??


Nah. Barrels of oil were what, double the price they are now and gas was still $3.75 a gallon..

[shafnutz05]

FUTURES SHARPLY LOWER
8:14AM: Stocks set to tumble Monday, as investors get first opportunity to react to U.S. downgrade.

Giddyup

[newarenanow]

Any clue what is going to happen to interest rates? Usually whent he market goes down, they go down, but with the AA+ rating, you hear they are going to go up. Or will this just offset and hold steady?

[Sam's Drunk Dog]

So far interest rates actually dropped as futures were down.

http://money.cnn.com/2011/08/08/markets ... /index.htm" onclick="window.open(this.href);return false;

[ExPatriatePen]

Any clue what is going to happen to interest rates? Usually whent he market goes down, they go down, but with the AA+ rating, you hear they are going to go up. Or will this just offset and hold steady?

Look at how quickly rates rose in Nov-Jan.

You might get a few basis points lower from here, but the risk of a move significantly higher is probably not worth the gamble for a few basis points lower

[ExPatriatePen]

What's nutz about what's happening today is that equities are selling off and the money is being plowed into the very instruments that were downgraded.

Insane.

[Ossa]

now down 350 and steadily falling

[jimjom]

This is not good at all.

[KennyTheKangaroo]

What's nutz about what's happening today is that equities are selling off and the money is being plowed into the very instruments that were downgraded.

Insane.

kenny the kangaroo just bought some CSX stock.

this sell off is retarded.

does anyone know of a way to trade the VIX or some instrument that tracks the vix?

if there is, anyone who has speculated on rising volitility is making some bank right now.

[pittsoccer33]

What's nutz about what's happening today is that equities are selling off and the money is being plowed into the very instruments that were downgraded.

Insane.

kenny the kangaroo just bought some CSX stock.

this sell off is retarded.

does anyone know of a way to trade the VIX or some instrument that tracks the vix?

if there is, anyone who has speculated on rising volitility is making some bank right now.

i never thought of that. im sure someone has created an ETF. what a good idea.

[ExPatriatePen]

"Emotional capital raising" or "concerns about a global slowing"?

Traders are still hesitant to call a bottom here.

Watch Gold, if Gold doesn't fall back below $1,700 we've got problems.

If you want to pick up bargains here, look for large global stocks with good dividend histories.

Cat, International Paper, Kimberly Clarke, McDonalds, J&J.

Crazy stuff today.

Definitely oversold right now.

[ExPatriatePen]

What's nutz about what's happening today is that equities are selling off and the money is being plowed into the very instruments that were downgraded.

Insane.

kenny the kangaroo just bought some CSX stock.

this sell off is retarded.

does anyone know of a way to trade the VIX or some instrument that tracks the vix?

if there is, anyone who has speculated on rising volitility is making some bank right now.

i never thought of that. im sure someone has created an ETF. what a good idea.

Been making good money in TVIX calls but I wouldn't get in here.

[KennyTheKangaroo]

i never thought of that. im sure someone has created an ETF. what a good idea.

too lazy to research and find out if there is a way. the vix is up like 27% today.

a few weeks back, when the debt ceililng stuff was up in the air, kenny the kangaroo thought to himself that there was a good chance the market would get volitile as the august 2 deadline was arriving, but never followed through on this thought. as an armchair qb, it seems blindingly obvious that it would go crazy, but is there a way to make a trade on it? Probably not for chumps like us.

[ExPatriatePen]

i never thought of that. im sure someone has created an ETF. what a good idea.

too lazy to research and find out if there is a way. the vix is up like 27% today.

a few weeks back, when the debt ceililng stuff was up in the air, kenny the kangaroo thought to himself that there was a good chance the market would get volitile as the august 2 deadline was arriving, but never followed through on this thought. as an armchair qb, it seems blindingly obvious that it would go crazy, but is there a way to make a trade on it? Probably not for chumps like us.

TVIX is a 2 x leveraged play on the VIX.

Great place to make(lose) a lot of money quickly.

[KennyTheKangaroo]

well then

is there a way for bums like us to short the vix

[ExPatriatePen]

well then

is there a way for bums like us to short the vix

Sell naked puts.

Risky risky risky stuff though. If you call it right, you'll make a boatload. Just remember though, every trade has a counter-party, and these guys aren't stoopid.