Wall Street Woes

[a_real_hermit]

I can't believe the Dow is back at 2003 levels. All the value gained since the end of the last recession has been lost, and much of it has been lost within the last week or so

Comments

[sara_k_s]

It's all pretty scary... I put $4000 into my Roth IRA 2 years ago (Fidelity Freedom Fund 2045) and it's now worth $2652. It makes that 5% CD where I put the previous year's Roth IRA contribution seem like a wise investment! I'm not sure how much I've lost in my 401(k) -- it's harder to calculate since I add to it every 2 weeks and my employer makes a partial match -- but I'm sure that's pretty bad, too.

I heard a radio show yesterday with a financial expert who said that every recession in the history of this country has been followed by a sharp recovery, and he is sure that will happen again. I hope so, and I just put another $5000 into Freedom Fund 2045, as I'm hoping this is an opportunity to buy low. Still, the thing about the stock market is that past performance doesn't mean anything about the future.

[a_real_hermit]

I'm putting in a little bit of extra money too, into a small personal account I have with Scottrade. I grieve the devastation of my 401k account, but this *is* a buying opportunity - assuming the market eventually recovers.