what my first mistake was–opening a capital gains taxable stock market account at Sharebuilder, without maximizing my Roth IRA contributions first. That I can understand. I can also understand that is why I’m in the hole $700 for the 3 total stocks that I have. What can I say, amateur mistake.
What I cannot stand is that since contributing the full amount to my Roth in April ($4000), the value of my fidelty target 2050 fund has gone down 10%. TEN PERCENT! Almost 400 dollars. What a rip. I should have kept that shit in my Washington Mutual 3.75% APR savings account, and amazingly…have MADE, not LOST money. God, Fidelity must be laughing all the way to the bank. They freaking suck. I know that I”m supposed to have the advantage of starting to save for retirement so early, but honestly, negative 10% is pretty fucking shitty.
August 28, 2008 at 7:04 am
Remember, with an IRA you’re investing for the long-term. Don’t let a short-term setback discourage you.
September 20, 2008 at 8:33 am
Whoa…step back a minute. You invested in a Bear market and this is to be expected. It is unpleasant but you will feel the exact opposite when the Bull comes back (it always does) and you start seeing your account values soar.
This actually is the time to buy, because stock values are so low. It doesn’t feel that way but once you have been through a couple of economic cycles it’ll feel less frenetic.