Comments on: Five Ways to Recoup Lossesh

By: Alan

Alan — Thu, 29 Jan 2009 16:45:00 +0000

Its remarkable how much money you can save just by getting new life insurance quotes or a new cable plan or anything like that. All contracts should be looked at when you haivng troubled time. I saved something like 1000 a month just by looking at a few of my bills and renegotiating them for better deals. I highly recommend it for anyone

By: ellen

ellen — Thu, 29 Jan 2009 16:34:13 +0000

I actually think selling off your 401k makes sense now. It may be at a loss, but when you need the money you need the money. Its that simple. Its easy to talk about long term planning when you are doing fine, but I’ve got to feed my kids and i my company goes under, which seems to be a distinct possibility, im going to have to tap into my savings, incluidng the 401k. I hope obama’s stimulus package is helpful

By: Antoine

Antoine — Wed, 28 Jan 2009 16:01:14 +0000

You can rollover your 401k if you get fired. A financial planner can go over all of that with you. the great party about a 401k is that even when it takes a hit, you still have double what you normally have. if you invest in it, your employer invests in it so you get money and hte economy gets slightly better. you should probably just weather the storm and im sure you’ll keep your job

By: Barbara

Barbara — Tue, 27 Jan 2009 17:18:48 +0000

First off, i do think we will see a recovery this y ear. Most economists and economic institutions are predicting we will get out of this by the end of the year and I really am not in a place to disagree with this statement, with my limited financial knowledge.

I think these are some great ideas too. the 401k idea just makes sense. doubling your money instantly is always a good policy. Withdrawing from these plans now will just make it harder for poeple to recoup their losses in teh long run

By: Mark

Mark — Mon, 26 Jan 2009 20:20:03 +0000

I am a little confused. If I keep investing in thes market, how will that help me recover some of my money, and not just risk what I have left. I still have a 401(k) plan with my employer, but what if my employer is no longer employing me in a month, or what if they go out of business entirely? I am afraid that I will lose everything. Wouldn’t it be better to put my money in treasury bonds?

By: Bruce

Bruce — Mon, 26 Jan 2009 20:15:19 +0000

Thanks for this advice efinancial! I had not even thought about revaluing my house or getting a new insurance policy. I know that you mention efinancial can help in this area- do you offer free rate quotes? I am certainly willing to take a look at how much I am spending on insurance and to compare it to other coverage. I think that with a better policy, and a re-evaluated property tax, I will start to repeal some of the damages from this recession.