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Thread: 401k
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10-10-2008, 03:23 PM #1
401k
So yeah my 401K sucks now.... watched it lose a little over 10k in the past week. I work in the insurance industry (not AIG) and this really blows, but I'm assuming just like every other time the market has fallen that it will come back up.
Anyone have any educated thoughts on this?
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10-10-2008, 03:43 PM #2
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Kamen Blue- 05 Segueway
What goes down, must go up.
Unless you really have to, don't sell now. You're going to see this happen more than once before you hit 59 and a half.
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10-10-2008, 03:51 PM #3
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Bright Red- 1999 Trans Am Ws6
Can you move your shit around or is some of it manditory invested in your own company like I got?
I have 15% of mine go into high risk/high reward stocks and I've lost over a grand myself. You're only 21 though don't worry about it.
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10-10-2008, 03:53 PM #4
yeah.. it sucks. i put most of my money into money markets last month. saw it take a $15K dump in just a few day last week and moved the rest in money markets. sad times. i feel for lose who really lost bigtime....
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10-10-2008, 04:01 PM #5
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10-17-2008, 07:50 AM #6
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Bright Red- 1999 Trans Am Ws6
GRR, not to bump an old thread, but just got my 401k statement today...lost in every fucking one except metlife stable value. -12.40% Return rate for the statement period. Like four months I think. Jesus f-ing christ. At this rate I'd be better off depositing into a savings account.
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10-17-2008, 09:01 AM #7
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10-17-2008, 09:02 AM #8
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[]D [] []V[] []D- 1999 trans am
mine dropped 32%... fuck...
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10-17-2008, 09:06 AM #9
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pewter- 2001 z28 lingenfelter 383
i refuse to look at mine till the market comes back up to normal
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10-17-2008, 09:37 AM #10
If you keep the money invested it will eventually come back up, 401 is not a short term investment and should not be looked at as such. However, if you lost money, then move everything to a low risk/ low return fund....you will not get back the money that you lost. You'll essentially end up buying high and selling low as opposed to riding it out.
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10-17-2008, 10:02 AM #11
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10-17-2008, 10:27 AM #12
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10-17-2008, 11:04 AM #13
there's the voice of reason. You guys are young.....it'll come back long before you retire and you'll be sitting pretty because right now you're buying more for your money. Just ride it out. Now if you were 60 like a buddy of mine is you'd be sweating a little right now.....he's lost a ton out of his 401 and was going to retire in 2 years. Probably not going to happen right now just due to the money he's down.
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10-17-2008, 11:30 AM #14
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Silver- 2002 Trans AM
My 403b Flunked.....i hope it bounces back up.
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10-17-2008, 01:43 PM #15
unless all your money is about to completely disapear, like funds going bankrupt, there is no reason to sell. thay will eventually come back up again. Like other said it is a long term investment. I've stopped looking at mine, mostly because it pisses me off to see them go down day after day. Although as long as i don't sell now at a low price then i really have not lost anything. it's all paper value until you have to sell it. I still have a few years until i retire, so plenty of time for it to rebound and go higher yet. And what i'm still buying now will be worth that much more when it goes up.
Just like the houseing market, if you don't need to sell now, why sell at todays reduced prices.
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10-17-2008, 03:11 PM #16
Yeah mine dropped about 25%. Pretty sickening.
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10-17-2008, 03:21 PM #17
Don't get me wrong fellas I'm not selling anything, just kind of a rant...
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