11-19-2008, 10:22 PM
Grieve Wrote:Breand Wrote:I bailed on my 401k todayIt's tempting, but I've sold at the bottom before, and it sucks. Right now my 401k is down almost 50% on the year, though, and that sucks also...
Yea Selling on the bottom is bad. And trying to pick bottoms is a fools game.
It doesn't matter with a 401k, but if you have standard investments, alot of people are locking in tax losses. Basiccly it means selling, taking the loss, and then reinvesting in something else. So you turn the money right back into the market, but you lock in the tax deductions.
Its one way to take a little advantage of the situation and pay less taxes.
Maul, the Bashing Shamie
"If you want to change the world, be that change."
--Gandhi
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"If you want to change the world, be that change."
--Gandhi