October 17, 2008

Update On My Friend Who Pulled $100K Out Of The Market

My post regarding my friend who pulled $100,000 out of his investments when the Dow plummeted last week received a lot of comments. Therefore, I felt an update was warranted.

I spoke with my friend yesterday and it turns out that he reinvested the money almost immediately. He might have lost a few bucks, but the bulk of the money is back in the stock market. Obviously, I was really happy that he made that decision. We ended up having a pretty good talk about money. I appologized for butting my head into his business, but he understood that I'm just trying to help and he said he appricated it. I reminded him that having this much invested at his age puts him ahead of the curve and that it's going to be worth a boatload when he needs it for retirement in 20-30 years.

Thanks to everyone that commented on the original post. As always, I appreciate the input and feedback.

3 comments:

Budgets are Sexy said...

Now that's what we like to hear :) Good work watchin' out for him!

Doctor S said...

What a great friend. Good to see that there are some good people out there. Keep up posted with your buddy's experiences!

1MansMoney said...

Thanks guys! I'm relieved he choose to reinvest the money. If not, I know he would be kicking himself 20-30 years from now.

-1MansMoney