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Thread: Losing money?

  1. Default Re: Losing money?

    Quote Originally Posted by Show-me View Post
    I wish I could have done this when I was in the first Gulf War. I was much more stupid then.

    Tax free money!!! Put it in a account that you NEVER have to pay taxes on. A ROTH IRA. You have a sweet opportunity to avoid taxes big time. Roth IRA are traditionally for after tax money but if you're a vet in a combat zone, guess what? You don't pay income tax. Nice loop hole for our brothers and sisters in the field. Tell your comrades about this.

    Of course it goes with out saying that if you get matching funds from TSP, get those first. O wait I just said it. Good luck and thanks for your service. Semper Fi
    Thanks, i raised my contributions a couple days ago from 25% to 60%.

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  3. #14

    Join Date
    Sep 2004
    Location
    Missouri
    Posts
    8,619

    Default Re: Losing money?

    Quote Originally Posted by SenorL321 View Post
    Thanks, i raised my contributions a couple days ago from 25% to 60%.
    That is good, but I want to make sure you understand what I am saying. Your TSP will be TAXED as you draw it out when you retire, it is tax 'deferred". Not really a advantage in a tax free zone.

    A ROTH you will never be taxed..............ever, even on the gains..............ever.

    My best advice would be to full fund this years a Roth before April 15, 2009 and then fully fund 2009's Roth.
    Socrates: "Democracy, which is a charming form of government, full of variety and disorder, and dispensing a sort of equality to equals and unequaled alike."

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  5. #15

    Join Date
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    West of Atlanta
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    2,580

    Default Re: Losing money?

    Quote Originally Posted by Show-me View Post

    My best advice would be to full fund this years a Roth before April 15, 2009 and then fully fund 2009's Roth.
    And if you're married fund hers too.

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  7. Thumbs up Re: Losing money?

    Welcome to the board Senor...

    I was deployed to Afghanistan in 2007, and like the others stated, I funded my Roth IRA first, then threw some more in my TSP. The good thing about the TSP in a combat zone is that you can go over the max ($15,500) and go up to around $45K.

    Also, if you have a short term goal with regards to money, look at the SDP, where you get 10% guaranteed interest.

    Like the others, I would also like to thank you for your service. I am on retirement terminal leave for the next 25 days and I am officially Fleet Reserve on 1Jan09.

    Good Luck and Stay Safe!

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  9. Default Re: Losing money?

    I have L2020 and want to retire in the next 2 years, TSP contribution is 5%. I am 64 yo. My loss so far is about $9,000.00.............stay in or get out??

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  11. #18

    Default Re: Losing money?

    Quote Originally Posted by scpac1 View Post
    I have L2020 and want to retire in the next 2 years, TSP contribution is 5%. I am 64 yo. My loss so far is about $9,000.00.............stay in or get out??
    Welcome scpac1! Not too many of us, if any, are qualified to give individual advice like that. We can basically say which way we think the market might go, but there are so many factors to consider when giving individual advice.

    That said, the L-funds are buy and hold investment vehicles that you dollar cost average into, so you should probably stay the course. That's not what most of us here do, so unless you want to change your investment strategy and philosophy and be more active in your account, you should probably stick to your plan. Maybe even kick it down a notch to 2010 or L-inc since you are so close to retiring.

    Good luck! I hope you stick around and become a regular. It won't be long until you will figure out what will be best for you.


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  13. Default Re: Losing money?

    I would stay in the L-2020 fund. The $9,000.00 loss NOW should decrease over time as you automatically move towards the L-Income fund when you start withdrawing 2 years from now.

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  15. #20

    Join Date
    Jun 2004
    Location
    Boiled Peanut, Georgia, USA
    Posts
    59,844

    Default Re: Losing money?

    Things are really shaky right now I'd wait until an uptrend is confirmed before taking a chance on the market, could continue down.
    Capital Preservation mode for me.
    01/15/2020
    CRUDE Oil =
    $57.81 a Barrel -$.42

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  17. #21

    Join Date
    Apr 2005
    Location
    Gainesville, Florida, USA
    Posts
    24,244

    Default Re: Losing money?

    Really, a $9K loss on a $400K account is peanuts - hold the line and continue to buy cheaper. Better days are ahead.

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  19. #22

    Join Date
    Mar 2006
    Location
    Raleigh, NC
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    3,033

    Smile Re: Losing money?

    Folks,

    You are responding to a comment from SPAC1 on 2009/02/17. But great advice. If he/she followed it - and allocated to more risk than he/she was already at - than there are many Winnebagos (or maybe one Winnebago, a boat, and a captain/driver) in his future.

    I took BTs advice and bought tons of shares when the prices were crashing. Yummy. Just watched the History Channels 'Men Who Built America' last night. BT is like JP Morgan - "Buy When There is Blood in the Streets". I see a trickle of blood now. What a joy. I get to grind on the victims of a demagogue for a few years and enjoy the view from a captains seat in the relatively near future. Than you Governor Moonbeam!!! Hope things go well for you...

    This big cat is no longer content to slumber in the tall grass - this big cat will feed.
    Lookin' up at the 'G Fund'!!!

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  21. #23

    Join Date
    Dec 2007
    Location
    inland Northwest
    Posts
    4,092

    Default Re: Losing money?

    In due time, Boghie, in due time.
    "life can only be understood backwards, but it must be lived forwards" - soren kierkegaard

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  23. #24

    Default Re: Losing money?

    [QUOTE=Boghie;382048]Folks,

    You are responding to a comment from SPAC1 on 2009/02/17. But great advice
    .
    QUOTE]

    Boghie - Sharp eye. I read all comments up to yours and didn't notice they were responding to a question from 2009.
    "I'm your Huckleberry"

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