Author Topic: The distant screams of my 401(k) (Read 4863 times)

MillCreek · « **on:** October 10, 2008, 11:58:25 AM »

According to the online statement this morning, my 401(k) is down $ 104,000 from the beginning of the year. And that is with the conservative portfolio with a mix of stocks, bonds and money market funds.

I am not sure if those distant screams are coming from my 401(k) or me.

PTK · « **Reply #1 on:** October 10, 2008, 11:59:03 AM »

How long until you retire? If it's more than 10 years, stop worrying.

K Frame · « **Reply #2 on:** October 10, 2008, 12:01:05 PM »

Welcome to my world.

And my personal non-401k portfolio adds significantly to that number.

41magsnub · « **Reply #3 on:** October 10, 2008, 12:02:38 PM »

Amen, I'm not panicking or anything since I have like 40 years before retirement but it gets really damned tiresome to see my 401k and other investments go down by $5k per month every month. The 5K number seems pretty consistent which means the rate it is dropping is accelerating.

K Frame · « **Reply #4 on:** October 10, 2008, 12:16:38 PM »

"$5 k per month"

Just wait until you see your first $50k in one month drop. That's an eye opener!

AmbulanceDriver · « **Reply #5 on:** October 10, 2008, 12:24:03 PM »

Well, my 401k dropped about 20% over the last month or so. But since I'm still somewhere around 25 years from retiring, i'm not exactly worried.... :)

The way I look at it, the more the market tanks, the more shares I can buy for each contribution amount, and the more it'll be worth when the market recovers.

MillCreek · « **Reply #6 on:** October 10, 2008, 12:30:34 PM »

I am in my late 40's, so I probably have another 15 years or so to go. The market will of course come back, but it is always interesting to contemplate how long it will take to make up the losses. And even before the current crash, I would usually see daily fluctuations of several thousand dollars up or down in my account.

El Tejon · « **Reply #7 on:** October 10, 2008, 12:32:33 PM »

Now's the time to fill it up.

Buy, buy, buy. Another check out this afternoon.

HankB · « **Reply #8 on:** October 10, 2008, 12:33:43 PM »

MillCreek, I feel your pain . . . my 401k has lost almost as much as yours. (Uhhh . . . I haven't checked it this morning . . . I don't think I will . . . might ruin my weekend completely.)

Ah, "If I knew then what I know now . . . "

I'm glad the bulk of my money (and all of my mother's) is in things like bank CDs . . . all kept at under $100k at each bank, and paying up to 5%.

K Frame · « **Reply #9 on:** October 10, 2008, 12:40:50 PM »

Unfortunately, I can't buy any more in my 401K.

I've been absolutely maxed out on my contribution amount for over a decade now.

charby · « **Reply #10 on:** October 10, 2008, 01:09:29 PM »

Mine has dropped about 37% since the market highs.

I'm 34 years old and I still have more money in my retirement accounts then the average that most people do at 50.

I still have a long ways to go to retirement.

I do feel bad for my folks who are set to retire in June 2010, both will get a fixed pension from work (railroad retirement) but their other investments have taken a poop.

RevDisk · « **Reply #11 on:** October 10, 2008, 01:16:56 PM »

I'm roughly 40 years from retirement, but seeing my 401k lose a bit less than a quarter of its value, ouch.

buzz_knox · « **Reply #12 on:** October 10, 2008, 02:21:32 PM »

Quote from: RevDisk on October 10, 2008, 01:16:56 PM

I'm roughly 40 years from retirement, but seeing my 401k lose a bit less than a quarter of its value, ouch.

Consider this: if you lost less than 25%, you are lucky.

roo_ster · « **Reply #13 on:** October 10, 2008, 02:49:50 PM »

I see the market drop like this and I ache to pick up some real deals.

Alas, my wife is in RN cert school and the cash we have on hand is to support that.

But, when she graduates and is employed, "Katie bar the door!" I'm hoping for much cheaper gold (Lord willing and money supply don't rise) and still-cheap stocks.

I am 36 and good ways from retirement. I just don't look at my 401k too much.

If GWB & his successors drive inflation through the roof to add on to the recession, I will get mighty cranky.

Jim147 · « **Reply #14 on:** October 10, 2008, 04:23:34 PM »

I have taken a few looks at my Simple in the last few weeks.

This afternoon in the balance it said "You Simply don't have what you did last year."

It was making good gains but i guess I should have moved some more of it over to bonds like I did another one.

MechAg94 · « **Reply #15 on:** October 10, 2008, 04:28:59 PM »

I thought bonds were hurting also.

Regolith · « **Reply #16 on:** October 10, 2008, 04:35:23 PM »

Makes me glad I'm still in college...

My folks aren't doing so well, though. They had planned to retire and build a house on the family farm shortly after I graduate at the end of this school year; that's now looking like it's not going to happen, at least not for a while.

Jim147 · « **Reply #17 on:** October 10, 2008, 04:38:04 PM »

MY bond shares are only down a about a $1.00.
Which is a lot better then my others-off 30%.

zahc · « **Reply #18 on:** October 10, 2008, 04:43:51 PM »

Well, MY 401(k) is down 0% from 0.

So HAH! Take that.

Tallpine · « **Reply #19 on:** October 10, 2008, 04:54:20 PM »

We should have cashed out our mutual fund back in January and put it against our home mortgage

280plus · « **Reply #20 on:** October 10, 2008, 06:41:43 PM »

If the stinkin' gas co would get off their asses and sign zee papers so I can start this reall good project I've been waiting on for friggin ever then maybe I COULD buy some of this cheap stuff. UTX came up a bit today, that strikes me as a good sign. It was nice to see a little green in the column again.

Azrael256 · « **Reply #21 on:** October 11, 2008, 03:09:36 AM »

I pulled half my long-term savings out of my money market funds last Friday. I finally bagged those five stocks I've wanted forever for about half their usual price. Dumped a bunch into index funds, too. I'll wait until the Dow is back to 12,000 and put a down payment on a house. :D

RaspberrySurprise · « **Reply #22 on:** October 11, 2008, 04:01:17 AM »

I wish I had that much money to lose.

Myself · « **Reply #23 on:** October 11, 2008, 11:41:13 AM »

I'm already retired and living off my investments. I am getting killed.

tokugawa · « **Reply #24 on:** October 11, 2008, 07:17:17 PM »

I am not convinced it will come back for YEARS- if ever. What is gonna happen when all those baby boomers retire and start selling their investments? We are in deep doo-doo all the way around.

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Author Topic: The distant screams of my 401(k) (Read 4863 times)