Anybody play the stock market?

[Ohiosam]

When my wife started working at the hospital I thought for sure they would match something. What a joke! They don't match squat.

My wife is an RN. For a while they matched a small amount but no more. If we want to retire someday it is up to us to be prepared.

 

[DJK Frank 16]

Drake- What you are getting is unheard of in today's economy. That is awesome. You also have time on your side, so good for you. I hear all your other employer offers is BS hunting stories and bad jokes.rotflmao

Yeah the 401k match was a big plus when I accepted the job, I can't afford not to put in the 10% and not get the match. I also have it setup a to stair step a percent every year, so like next year I will put in 11% and so on. I figure may 3-4% raises will offset that 1% more I contribute and I don't budget for that raise money now, so I will never miss it.

I think someone my age has to do these things if we ever want a chance at retiring.

 

[Buckmaster]

For a while they matched a small amount but no more. If we want to retire someday it is up to us to be prepared.

This is a common practice these days. There once was a time I had a pension, 401K, and an IRA. The company I worked for froze the pension for life and ceased matching allocations into the 401K. At that time I moved on to other employment.

Sam is right, if one wishes to retire someday you better be able to finance it yourself. I'll probably die working someday.

 

[hickslawns]

I'll probably die working someday.

Don't worry Buckmaster. You will not be alone. I will too. I don't know about you, but the with me, it is just who I am. I just hope I am physically and mentally able to work that long AND I would prefer to live a long, full life. My idea of retirement is not sitting on the couch rotting away, nor is it sitting on the porch sipping lemonade. My idea of retirement is simply slowing down. . . on my own terms. I know I will be that cranky old man still trying to trim his bushes with his walker. I am okay with that. I just hope it is not because I cannot afford to have someone trim them. I hope it is because I want to still take pride in them and WANT to be out there doing something.

 

[Buckmaster]

My idea of retirement is simply slowing down. . . on my own terms.

My retirement objective is to bring work down to 40 hours per week, 6 weeks vacation per year, and the ability to take Friday's off from mid October thru gun season. That is my retirement objective until death do us part.

 

[hickslawns]

Sounds pretty much like my plan BM! lol

The idea of being able to sit in McDonald's or the Donut shop and sipping coffee with my buddies while figuring out what we are going to work on for the day sounds alright too.

 

[Longdraw]

I wasn't allowed for some reason at work too start a 401k till I was 21,since then I have put in our max of 14%,and they match up to 6%,,its also a nice tax right off at the end of the year savings credit,I also have a IRA and a few CD's,but I am 31 know and got along ways to go

 

[Mike]

I wasn't allowed for some reason at work too start a 401k till I was 21,since then I have put in our max of 14%,and they match up to 6%,,its also a nice tax right off at the end of the year savings credit,I also have a IRA and a few CD's,but I am 31 know and got along ways to go

Keep that up if at all possible!

 

[hickslawns]

Well boys, I am bringing this thread back to the top. I didn't read through it all the way to refresh my memory but I do recall a few of you dabbling in the market. DOW droped nearly 400pts today. I would think if there is something on your watch list that you have been waiting to buy on the bounce off the bottom, then tomorrow might not be a bad day. There are plenty of stocks with balance sheets and income reports stronger than we have ever seen that are sitting at all time lows. IF I had the money, I would be buying some Westport Innovations tomorrow. Just under $27/share. I just can't swing 100 shares right now and I try to buy at least 100shares at a time when I buy. Therefore, I think I am going to pick up some Gastar Exploration at $3.37 per share. If you are into the "natural gas is our long term winner" thought process, then there are plenty of these stocks to choose from. Sandridge, Abraxas, and a few others are in my portfolio. There again, I wish I had deeper pockets, but I do not. If I did, I might consider some of the trusts such as San Juan Basin trust. Just too rich for my blood. I only invest what I am willing to lose. So. . . I guess a $337 gamble on Gastar is what I place tomorrow.

If you think there are some hated bank stocks out there, I bought into Hudson City Bancorp in September and it is still a pretty good buy as well right now. 52wk low $5.15 and 52wk high $13.26. Bank stocks are hated but this company doesn't have near the toxic assets that most banks do. Fannie Mae begged for more government money today as well which makes me believe other banks which do not sell off their mortgages are going to be seeing some additional business. If the banks can't sell them off to Fannie or Freddie, then the banks that have watched their backs prior to the housing market crash which are still in a strong position could very well stand to benefit.

Disclaimer- I am still no expert, but when I read the research from the Stansberry and Associates or The Penny Stock Specialist, I listen. I don't always act, but I do keep an eye on their picks, the reason why they suggest them, and where they go from there. Whether I buy them or not, I follow their recommendations to see if they are picking winners. So far, they have served me better than my broker which has only picked me losers.

 

[Huckleberry Finn]

A lot of people have been saying to buy Sandridge. I don't think you could go wrong with CHK though

 

[hickslawns]

CHK? Is this the bank? I have it's symbol as HCBK. Otherwise, maybe I should look into CHK. Chesapeake Energy? They are the largest player out there for sure in this market. Dominion is not a bad one either. The carriers of liquified gases are going to start banking as well. Liquified gases transported to China/India and such are going to make the transporting companies a "boatload" of money. Dominion and LNG are big players in these fields. I am just not dropping $50-60/share on DOM.

 

[Huckleberry Finn]

Yes, Chesapeake.

 

[aholdren]

Chk is a great buy in my opinion. I really like United Steel (X), for what its worth I think all stocks are on sale and you just need to be in the market now.