I am 39 and my husband is 42 How much should we have in our 401k39;s and retirement by now

Our 401ks took about a 40% hit and I am scared crapless
      Answer1:You dont lose money until you sell...DONT SELL, you still have 20years for the market to come back. Keep investing. If you look at the market in the long run it has grown.
      Answer2:If you cant sleep at night - do what we did.Look at your 401K, see what has lost the least in the passed 3 or 6 months. Put all your money into that. We made 3% last year.Forget diversifying - not if its keeping you awake at night. Safety is key here.Many people here will tell you that the market will go up in the next 10 years - and it will. But the next year the market will drop at least another 20% - at least. Maybe in October the market will start picking up again. We have a massive credit crunch ahead of us and unemployemployment that could reach 10%.If you dont mind losing 20% hang on. The markets will pick up. With me, Id rather be safe now, and begin investing in October./
      Answer3:Its now a sale. Buy all you can buy.
      Answer4:Dont believe that markets always go up in the long run. Look at the last 10 years, it has gone down even with a couple of huge bubbles thrown in. Look at the Great Depression, it took 25+ years to recover, and this time could be similar. Look at the Japanese market, it has never recovered from the highs in the 80s. The next year will be ugly, put your money in the safest investment possible.
      Answer5:Dont be scared... try to relax. Both you and your husband are at least 20-25 years away from retirement. Historically, in the long-run, stocks are the only investment that will give you the kind of gains you will require for a decent retirement. Without knowing your incomes or how long you have been investing, it will be impossible to determine if you are n-track for a retirement. Keep in mind that a general rule of retirement is to be able to live on 80% of your current salary.With a 20+ year time horizon in front of you, just continue to make good investment decisions in your 401k plan(s) and stay diversified. Putting all of your money into a single stock or single area is about the worst possible thing you can do and carries the most risk. A long-term, diversified investment portfolio will allow you to make the gains you will need for retirement.Some good strategies for the current downturn is to maintain regular investments in your 401k, since your money will now go much further with prices being depressed right now. Also, check to make sure you are still carrying a balanced portfolio, since wild stock price fluctuations may have caused your portfolio to go "out of whack".Dont panic, though, since that is what is causing a lot of the bank failures right now, and dont blindly follow advice from anyone without your own research, especially from a bank or brokerage firm.
      Answer6:I really am not sure exactly what you need. I am 35. We have about 100,000 plus in ours. You really dont need to worry. What you need to make sure is that you dont have all your money in one stock. Like my husband company puts our in many different companies. That way if one goes under you are okay. Things will come back up. I am not sure when but, they will. I think it is called diversified stock that you need to be in. That means not all your money is in one company but many. That way when things get better you will make money with the companies that make money. You will lose some right now but, you will probably make more when things finally come back and they will. Just make sure you are invested in many different companies. The two worst things you could do is just invest in one company or pull out now. Right now stocks are down. If you pull out you are gonna lose. Things will come back with in the next 10 years and you will get your money back maybe more. ONE MORE TIME see to it your money is in multiple stocks. I think it is called diversified stocks. Do not pull out when things are down. Wait until they come back up and they will. Put your money in safer things like medical or computers or both. We will always have medical and computers. Good luck sweety I know it is scary you will be okay though. Just make sure you dont keep all your eggs in one basket. Love,Michelle
      Answer7:Nobody can tell you how much is enough. Not only must you consider your future income, current and retirement lifestyles, familial obligations, the current and future cost of health insurance, the stock market, interest rates, and inflation over the next 30 years. More is obviously better, but nobody can say with certainty that x dollars is all you need.Grandpa