Will there be a run on (what's left of) 401Ks now?

[marmar]

I yanked mine last year, and I'm glad I did.

[RebelOne]

1. I yanked mine a couple of months ago.

I put into my savings account for the time being. It's in Bank of America, so I am hoping it will be safe for the time being.

[Warpy]

2. That's probably what's sending the Dow down right now

panic selling by small holders who want out while there's still something to save.

Since my stocks produce income, I'm staying put. I've known equities are overvalued for a long time, I'm not interested in leveraging debt, and I'm not losing anything by a drop in face value except the prestige of numbers.

For those of you who do yank your 401K stocks, consider putting them into insured CDs or one of the retirement savings plans. You want to earn interest, even if it's peanuts compared to inflation.

[marmar]

4. "into insured CDs "

That's what I did.

[Davis_X_Machina]

3. Yes.

Anyone not retiring ten years out or more is screwed. When the market goes to 8750 -- my pick for a bottom -- it'll take that long to retrace to 1/2001 levels.

[rucky]

5. The loss + the penalties.

Would be hari-kari.

[tama]

6. Perhaps

it was never a smart idea to build one's future on casino of pure Greed. Greedy has a shitty ending, you know.