Originally Posted by Kurts
The 401's are all in mutuals & while each & every one has taken a hit I'm going to remain optimistic. I'm 54 & have a decade or so before I retire so I'll remain steadfast though I'm thinking, in another 5 or 6 years I'll start moving things to 'safer' paper. The stocks I own are all in utilities; steady, never have lost a stinkin' penny over the past 15 years or so, have split twice - no complaints.
As far as moving anything around or cashing out I feel that would be a silly move. After another year or 2 perhaps I'll rethink things but for now freaking out would be the worst thing to do.
After yesterday looks like your right we'll see what the next few weeks brings. I did move some around but still left my stock exposure at 30%. I think your doing the right thing at your age or maybe any age who knows. I get a little worried as I'm 65. It makes you more conservative. Fortunately we have our pensions but in these times it's possible that the amount of the pension could be reduced because they're somewhat into stocks also.