What do I do with my IRA in a market that is plummeting and so is my money?

Posted by Dolores
artattack asked:


I am 29 years old and had about $10,000 invested in a High Risk IRA and now I am down to $9,400 after 2 months of Investment. I know that I am not retiring for many years but still am unsure if this is the best option for my money right now. I really am concerned about retirement and I want to make sure that I am doing the right thing in the retirement process.

retiring
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This entry was posted on Monday, July 20th, 2009 at 1:32 pm and is filed under Personal Finance. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

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3 Responses to “What do I do with my IRA in a market that is plummeting and so is my money?”

  1. weltall900 Says:
    July 22nd, 2009 at 8:48 pm

    Caffeinated Content - Members-Only Content for WordPress

    I’m 22 with $9,000 in and I feel your pain. I’m using Fidelity’s Roth IRA with the mutual fund FFFHX. Its a target date fund for the year 2050, so I try to remember that my money is diversified, allocated, and strategized all for me all through the years until I retire. So I try not to worry about it. Just ride the waves I guess.

  2. Katie V Says:
    July 25th, 2009 at 7:27 am

    Kansieo.com

    Do NOT even consider a reallocation now. I assure you this down market will most definitely take an upward turn before you approach your retirement. Ride it out.
    Think of it this way. If you purchased a home three years ago for $200,000 that you could sell for no more than $185,000 tomorrow, would you list it tomorrow if you did not have to? You have time to buy low, sell high.

  3. Gary E Says:
    July 26th, 2009 at 8:39 am

    Create a video blog…instantly.

    This is a great time for investing, if you are young. Stocks are going down now and will go down further. But the market will turn around and you will wish you had invested more while stocks were so cheap. You will badly miss the best buying opportunity in your life if you wait until you know that the market has recovered. Because the only way you will know that is that stocks will be a lot more expensive that they have been.

    What ever you decide to do, track the fund you are in now for five years so you can for yourself what happens.

    Warren Buffet said that the economy is in a recession but he did not say he was selling. In fact he has often said that the best time to buy is when everyone else is selling.