Comments on: The market is going down and some personal finance bloggers have lost their minds

By: Why thinking you are smart enough to know where the market is going is so dangerous. | My Financial Journey

Fri, 14 May 2010 20:33:39 +0000

[...] the trap of reacting to the markets recent performance when when things started heading south (read the comments and this post to get Dave’s full story). Again I think these guys are financial wizards and a [...]

By: Stuart

Stuart — Fri, 14 Sep 2007 16:03:34 +0000

An interesting point and follow up comments. I guess that it is hard to keep finding long term perspective when things aren’t doing so well here and now. And it is hard to find inspiration for articles whilst losing money…
Love the site by the way.

By: My Financial Journey » Retirement NestEgg Report - August 2007

My Financial Journey » Retirement NestEgg Report - August 2007 — Mon, 03 Sep 2007 15:27:58 +0000

[...] report this month, despite the fact that “market is crashing” and we should all have our money hidden under the mattress because the end is near, all of my [...]

By: Alex from Personal Finance Views in the UK

Alex from Personal Finance Views in the UK — Thu, 23 Aug 2007 19:44:33 +0000

Hi again MFJ,

Thanks for that explanation. It sounds like the pension situation is very similar in the US and UK, although the law has been changed recently here to remove a lot of the complex limits on how much you can save and still get tax benefits. This will be good for some of those who already save, but sadly won’t make much difference to those who don’t – but should – be putting money away.

By: If The Stock Market Sell Off Makes You Nervous, Keep Things In Perspective » Money and Personal Finance Blog In Silicon Valley

Mon, 20 Aug 2007 15:16:54 +0000

[...] finance blogosphere has been abuzz about the stock market lately, for obvious reasons. The market has been careening around wildly like the drunken bull that it is, [...]

By: My Financial Journey » Why thinking you are smart enough to know where the market is going is so dangerous.

Mon, 20 Aug 2007 12:18:00 +0000

[...] wrote an article last week that talked about some of what I perceived as over over-reaction and irrational thinking by some of [...]

By: MFJ

MFJ — Sun, 19 Aug 2007 22:58:38 +0000

In the US you can contribute up to $15,500 per year in an employer sponsored 401k plan and all of the money contributed is exempt from federal personal income tax and also grows tax free. You pay the taxes when you take the money out at retirement.

By: Alex from Personal Finance Views in the UK

Alex from Personal Finance Views in the UK — Sun, 19 Aug 2007 17:05:31 +0000

Thanks for clarifying that, MFJ. Another point I’m curious about, which I wonder if you could shed light on… In the UK we get tax relief at our highest rate (22 per cent for basic rate payers and 40 per cent for higher rate) on cash invested in pension funds. Are there similar incentives in the US? Thank you!

By: David

David — Fri, 17 Aug 2007 19:57:16 +0000

Yea I should have clarified the “stay put in my funds”…I meant that I would not be selling them. Good conversation though here, it’s scary when people tell others to get out, jump ship, abandon investing.

By: Lazy Man and Money

Lazy Man and Money — Fri, 17 Aug 2007 18:15:15 +0000

I think I left comments on all the sites, but my feeling is that a lot of it is coincidence with Jim and David. Trent’s advice struck me as a little un-Trent-like and I had to disagree with getting out of the market. I agree with you MFJ, know what you are getting into upfront and if it’s too much risk add some fixed investments to balance or don’t buy the fund at all.