With the world markets uncharacteristically taking a faster-than-usual landslide over the past 2 weeks, perhaps it’s time to revisit one of the staples of corporate life: the 401(k). First, I would like to point out that, even during the Bush administration, the markets have sunk to lows more epic than what we’re seeing as of 10 October 2008.

When the markets opened after 9/11, the Dow sunk to around 8236. There was another trough on 19 January 2002 when the Dow hit 8020. On 4 October 2002, America saw the Dow reach its lowest point during the Bush Administration, when it hit 7528.40. Previous to which, during the last year of the Clinton administration, on 14 January 2000, the Dow was at 11,723. As far as the NASDAQ is concerned, it has never (and probably will never) recover from its all time high of 5048.62 on 10 March 2000. We are seeing, as of today, the NASDAQ at around 1500-1600.

I am neither a finance major, nor an MBA grad, nor an economist by any stretch of the imagination, but what I see is an opportunity to fill up on stocks for retirement. My armchair prediction is that the Dow will see some resistance at around the 7500 mark. With it hovering on the day at around 8100, the time to max-out 401(k) contributions for the rest of the year is right now, if you have adequate enough savings to do so. I would suggest, no matter what your age, going for a broad yet aggressive fund of companies with a solid forward P/E ratio to recoup losses. The maximum contribution rate for this year is $15,500. Dollar-cost average your percentage of the salary withheld to your 401(k) to the end of the year to reach that contribution limit.

One benefit of a bad economy is this: You can always recognize the tough times more than you can recognize the good. When the Dow hit above 14,000 a year ago, the feeling was quixotic, as if the money was reigning in from the heavens and would never stop. The robust economy was like the euphoric feeling of drinking a lot and having a good time, only to feel half dead and mentally destroyed the morning after. What we are now suffering is that hangover. “I’ll never do that again,” you’ll say. But you undoubtedly will.

We should have no choice but to think that the best days in America are still ahead of us. If we’re suffering

from what both Obama and McCain call “the worst financial crisis since The Great Depression” and I can still sit in my underwear on a Friday, watch television, and pick up baby back ribs from Chili’s to-go, then we must ask ourselves how bad is it really.

There’s no reason not to be optimistic when looking at our history. We’ll get through it; perhaps more luxuriously than we ever thought possible.