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Originally Posted by Scav
let me preface the below by saying that I am far from a market guru
The only people that should be selling now are the people that are 2-3 years from retirement. And if I were them I would still ride it out and hopefully get back some of the 50% they have lost. If anyone our age sells they should be shot in the head. If anything, people our age should be getting ready to put every penny they have into this market.
In about 30 years, there will be alot of people that made the decision to dump some cash into the market right around now, and they will be retiring pretty happy because of that very decision.
It is an amazing opportunity for 20-30's to solidify their retirement and make some real money, a year ago we were trying to play into a 15k Dow, and now, we will get to play within a 7k Dow....
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Im no financial expert either..but this is what I was thinking too. Since I'm 35, it will be a while before I retire. For the first 8 months of this year, I was dumping 20% into my 401K. I dropped it back to 10% in August...but now I'm thinking of jacking it up back up to 20 maybe even 25%.