Nasdaq hit the circuit breakers against this morning; going up

[TerryMiller]

Four other GOP senators -- Georgia's Kelly Loeffler, Wisconsin's Ron Johnson, Georgia's Sonny Perdue, and Oklahoma's James Inhofe -- also sold off stock following briefings on the virus.

Saw that on the news this morning. Finestine and a few dems were also on that list. They need to be nailed to the wall by their private parts for insider trading.

Kelly Loeffler was telling Tucker Carlson at FOX News that her "trades" were all done by a third party source. She said that they make the decisions on buying and selling and that she only finds out after the trades are done. She said that when she was appointed to the Senate that she set it up that way on purpose.

I suspect that some of the others may have their investments done the same way, but who knows for sure?

 

[Fredkrueger100]

If I had only lost $11K I would be partying hardy.


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Well it ain’t over yet. I’m sure I’ll lose a lot more than that before it’s all said and done. But as I said, hopefully this ends soon and we make all the money back and then some.

 

[dennishoddy]

Just a question, how many of you folks directly control your portfolio? Do you trade personally or do you have someone as a second party that is watching your investments?
A lot of folks have investment advisors within their 401K's to manage their accounts that they never see or know. It's just done with the investors request about how they want their money invested. Growth, Maintenance or whatever.
Most folks that I know have investment advisors within their 401K's manage their investments for them.
Here is the kicker, and something that I'm not sure about.
Congress and those in the federal government employ do not have the same benefits as you and I.
They have a seperate retirement program and do not participate in social security unless they take on a second job to acquire the necessary points.
They do not have obamacare which is insanely expensive for the common folk.(We have to pay $1000 per month with a $5000 deductible) They have their own health care system that pays for pretty much everything.
I'm not aware of how these senators invest their money. Do they have a 401K or what? I suspect they have something more beneficial to them than we have to us because they make the rules.

 

[jakeman]

I have lost over $11,000 in my 401k because of this crap! It was doing excellent before. So was my wife’s. She has lost more than me. And this is why 401k’s suck. My company did away with pensions before I got on. Makes me sick thinking about it. This crap happened to my dad back around the early 2000’s. He lost so much money and so did a bunch of his work buddies at Dayton. And it never recovered. But he has a pension and is on disability so he has it made. I will probably have to work till I’m dead.

Stay the course. Contribute the max you can afford and still make your monthly bills. If they match it's even better.

Quit whining, it makes you look silly. Mine is down 7 figures, 9 if you count the ones to the right of the decimal, and I was gonna retire at the end of '21 at 59 1/2.

401k beats the hell out of a pension, every, single, day.

 

[jakeman]

If I had only lost $11K I would be partying hardy.


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Ain't that the Gawd awful truth??

 

[kirk1978]

Not even looking at my accounts....

 

[jakeman]

Not even looking at my accounts....

I just can't seem to keep from it.

It's like watching a train wreck as it's happening!! lol From the caboose!!

 

[Fredkrueger100]

Stay the course. Contribute the max you can afford and still make your monthly bills. If they match it's even better.

Quit whining, it makes you look silly. Mine is down 7 figures, 9 if you count the ones to the right of the decimal, and I was gonna retire at the end of '21 at 59 1/2.

401k beats the hell out of a pension, every, single, day.

I ain’t whining about nothing. Just voicing my disgust with this. If that makes me look silly than so be it. I don’t have a crap ton of money in mine like some of y’all. So $11K is a lot. I contribute 10% and my company matches up to 6% dollar for dollar. My wife’s matches up to 5 and she contributes 8%. She makes a lot more money than I do as well. I also have a profit sharing account and I don’t contribute to that. Only the company does. But I choose where it goes. The same as I do my 401k. How exactly does a 401k beat a pension? When a person retires under a pension they get a guaranteed check every month. They also get health insurance. With a 401k you don’t get any of that. Only what’s in your account. And if you don’t have enough you can’t retire. I would much rather have a pension. My companies pension allowed a person to retire at 55 as long as you had 35 years or more. If you stay longer you get more money. You also get health insurance and life insurance. If I am ever able to retire I won’t have health insurance anymore, no more company paid life insurance and AD&D coverage. Had I been under our pension I would have all those things. To me a pension is worlds better than a 401k. Also, my company still had a 401k with the pension. So those that are under the old pension program get both. My dad has the same thing. He retired from Dayton Tire.

 

[DRC458]

I ain’t whining about nothing. Just voicing my disgust with this. If that makes me look silly than so be it. I don’t have a crap ton of money in mine like some of y’all. So $11K is a lot. I contribute 10% and my company matches up to 6% dollar for dollar. My wife’s matches up to 5 and she contributes 8%. She makes a lot more money than I do as well. I also have a profit sharing account and I don’t contribute to that. Only the company does. But I choose where it goes. The same as I do my 401k. How exactly does a 401k beat a pension? When a person retires under a pension they get a guaranteed check every month. They also get health insurance. With a 401k you don’t get any of that. Only what’s in your account. And if you don’t have enough you can’t retire. I would much rather have a pension. My companies pension allowed a person to retire at 55 as long as you had 35 years or more. If you stay longer you get more money. You also get health insurance and life insurance. If I am ever able to retire I won’t have health insurance anymore, no more company paid life insurance and AD&D coverage. Had I been under our pension I would have all those things. To me a pension is worlds better than a 401k. Also, my company still had a 401k with the pension. So those that are under the old pension program get both. My dad has the same thing. He retired from Dayton Tire.

Oh, both have a place ... absolutely. I'm retired. I have SS and a pension, and my investments from IRA's, 401K's, etc. I can live on what I get from SS and my pension, or I would not have retired. HOWEVER, what I have/had in my retirement accounts (401K's, IRA's, etc.) provide for the activities I might enjoy above and beyond just existing. The more that dries up, the less I get to enjoy retirement. If you're still working, you're young enough to make up some of those losses. Those of us who are retired either have to ride that out or go back to work (if we could find a job). If we ride it out, we probably won't live long enough to earn it all back.


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[Aries]

I ain’t whining about nothing. Just voicing my disgust with this. If that makes me look silly than so be it. I don’t have a crap ton of money in mine like some of y’all. So $11K is a lot. I contribute 10% and my company matches up to 6% dollar for dollar. My wife’s matches up to 5 and she contributes 8%. She makes a lot more money than I do as well. I also have a profit sharing account and I don’t contribute to that. Only the company does. But I choose where it goes. The same as I do my 401k. How exactly does a 401k beat a pension? When a person retires under a pension they get a guaranteed check every month. They also get health insurance. With a 401k you don’t get any of that. Only what’s in your account. And if you don’t have enough you can’t retire. I would much rather have a pension. My companies pension allowed a person to retire at 55 as long as you had 35 years or more. If you stay longer you get more money. You also get health insurance and life insurance. If I am ever able to retire I won’t have health insurance anymore, no more company paid life insurance and AD&D coverage. Had I been under our pension I would have all those things. To me a pension is worlds better than a 401k. Also, my company still had a 401k with the pension. So those that are under the old pension program get both. My dad has the same thing. He retired from Dayton Tire.

That's only partially true.

Unless ONEGAS changed it drastically after the separation, you can stay on retiree insurance, but it's not free... in fact, it doesn't cost a LOT less than regular commercial insurance, but does save you some money. And it's not identical to employees insurance, but it's close. That is ONEOK's policy, and at least as of the separation they were the same.

It kind of depends on how long you work and how much you have in your 401k. If you retire at 60, and die at 61, you won't collect much pension, and your estate will get nothing from that point on. Whatever is in your 401k is yours, and belongs to your estate no matter when you expire. So that's PROBABLY better, unless you're comparing a small 401k to a very long retirement.

But your 401k is not what replaced the pension. The profit sharing plan is what replaced the pension. Same deal though, depends on how much accumulates in your profit sharing plan compared to how long you live in retirement.

If you plan to work several more years, I don't think you have anything to worry about. You haven't lost anything unless you sell it at this price. Don't do that. OGS will come back, it's just a question of when. You are BUYING stock right now, so while your balance doesn't make you FEEL very good, you are buying cheap stock. People are still going to need natural gas, so nothing short of full chapter 11 bankruptcy really hurts you.