Wednesday, July 1, 2009

401K's 529's, IRA's, Roth's All Those 's Losing Money

Well after 20 years of the Government and Financial Management guru's telling us to invest in all these funds to save for retirement, college educations, new house, etc. Now people are seeing their investments in those funds fall to as low as negative numbers. My bgf's sister invested in 529's for her children college, and saw her funds value drop from $30,000 to $5,000. Her daughter is going to college this year, there are not enough funds, no time to allow for a market correction, and was no way for her to withdraw those funds before the market collapsed. Ditto with our 401K plans.

No stimulus package for the folks who were lead down the path to the poorhouse by so many, many people, who sold millions of investors that "safe" route to security through investing.
Many, many years ago, when we were young and definitely uninformed, we invested $6000 through a money management company in Belleville, IL and a broker last name of Judge in a very safe secure paper fund of some sort. Within 5 years the SEC closed down that fund, and we got a whopping $1500.00 back (and was greatful for that).

I've never invested much since then. Didn't buy into the 401k's or the 529's - if it's too good to be true - it probably is. I have a small retirement fund that I established a long time ago, oddly enough with divorce monies. That poor little fund has taken such a beating, right around the corner from my retirement street sign - sadly now to nowhere.

Four to go - not going to be able to retire anywhere. Look for me as a cashier at the local KW Cafeteria when I'm 82!

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