Should I pull my IRA money?

[Amila]

I put in $1500 a few years ago and never contributed to it. It was up to $1900 at one point. but is at $1586 right now. should I keep it in there? Pull it out and save the cash? It is a mortgage payment for us. We aren't hard up for money currently, but could be at any given time....

Advice?

[grniys]

Leave it alone! The market will eventually bounce back. By waiting it out you'll see your money back and then some.

[Denvergirlie]

Leave it alone unless you are facing foreclosure.

You haven't really lost money in the fund unless you pull it from the market, then yes the money is lost. Likewise, you are more than likely going to be hit with penalties and what not so even lose more money.

If it makes you feel better I have "lost" every penny I put in this year thus far, but stocks are estentailly on sale right now so if/ when the market swings back up I will have bought more than what my orginal buying power is.

[BarefootScientist]

Yeah I agree do NOT take it out now. This is the time to put more in.

[velochic]

This is going to sound harsh, but I don't mean it to be. If you cannot stomach the downturns of the market, don't invest there. It means that your personality is not compatible with risk. You need to leave it there right now and when the markets come back up (that could be years, mind you), move your money to bonds, which carry very little risk.

In the past few months our taxable (non retirement/non college savings) investments have dropped enough to buy two homes. It can be scary, but staying the course and not timing the market is the tried and true methodology of investing. Keep your chin up and good luck. (Oh, and expect it to drop even more before it comes back up.)

[kirstenb]

Originally Posted by Denvergirlie

Leave it alone unless you are facing foreclosure.

You haven't really lost money in the fund unless you pull it from the market, then yes the money is lost. Likewise, you are more than likely going to be hit with penalties and what not so even lose more money.

If it makes you feel better I have "lost" every penny I put in this year thus far, but stocks are estentailly on sale right now so if/ when the market swings back up I will have bought more than what my orginal buying power is.

This sounds like my situation exactly. I have lost most of what I contributed this year to my 401(k). I'm pretty young (mid 20s) and find the best strategy is just to forget about it, since it will be 30-40 years before retirement. If I pull it out I really would have lost all the money.

[mom0810]

Don't. Touch. It.

[momof2boys1girl]

I would leave it alone. Unless you absolutely need it now. Taking it out now you could face charges and penalties and it would not be worth it.