Anyone concerned about their IRAs or Pension Plans today?

[busterbrown]

I realize that this Fiscal crap is gonna really hurt a lot of people who have very little.
But I ain’t wealthy and am over the “start again” age...So I’m just wondering what
you guys are thinking about this.....

[Swede Atlanta]

1. No, the "fiscal cliff" is media and RW scare tactics at play.......

This will eventually be resolved. If we can recover from the disaster of 2008, we can recover from the fiscal turtle shell.

[busterbrown]

6. I feel the same....and especially because our economy is expanding rather than shrinking!

Nevertheless I just hate these fucking nuts in the House.
I think they would rather destroy their own families ( forget the Country)
rather than give into the the “Socialist Kenyan’s agenda)

Just so I don’t forget who were dealing with I go on U TUbe
every so often and look under Tea Party Idiots. They mostly
are being interviewed by younger people who ask them extremely simple
questions in a non aggressive manner and their responses are mind boggling.

The one I saw yesterday, had this college guy asking a few of them, why
they are concerned about Czars in the govt. When they responded that “No
Czars should be in our govt.” and The interviewer explained that they were
only in an advisory position and that Ronald Reagon created the first Czar(Drug)
You should have seen their expressions. They all just tilted their heads
to the ground and seemed almost ashamed....Fucking great!

[OKNancy]

2. sort of.. but unless you need to take money out immediately

IRAs will be fine if you hold on. The market should recover in a few months.
I realize a lot of folks here hate the Stock Market, but I have a little bit in Mutual Funds and an IRA which I put in Mutual funds too..
It's doing pretty good. I'm getting about a 12% return. That's a lot better than a savings account!!

[condoleeza]

3. I worry about it every day,

my IRA's (don't have a pension plan) are worth about 20% less than they were worth in 2008. I ain't wealthy either, plan to live as long as I can within my assets and then I'm out of here.

[LiberalEsto]

4. What IRA & pension plan?

Don't have either.
14 months to early Social Security, if Congress doesn't fuck it up.

[RB TexLa]

5. The cliff will be a good thing, there should be some good discounts on stocks if no deal is reached

[busterbrown]

8. The market is always a gamble...some things less than others, but always a gamble....

[NRaleighLiberal]

7. My thinking - the only way it works is to add to it and forget it until you need it...

From what I've read (and what my investment adviser says), you can't try to time it and pull things here and there, because one tends to end up selling low and buying back higher. Let the years average it out - I always remember that there are far more wealthy people than me hoping that it rises over the long haul.

It is of course more nerve wracking the closer you are to using it, however - that I certainly understand. I am 2.5 years away from being able to use my IRA, and do keep an eye on it, because the last 10 years shot all hopes of what I imagined it would end up as being at retirement.

[busterbrown]

9. You and millions of others.......We all should have known it was coming.....

I rent a house ( we know the owners and its very cheap) in a great part of L.A. and
when the small modest house next to us 2 bedrooms, was valued at 950.000, we knew
something was up...