401k Tanking :(

[RyanbabZ71]

I have a rate of return since 1/1/08 of -7.2%. It was over 10% last yr, what happened? Down almost $2K this yr already man this sucks

[y2kz71]

I agree...I have lost $$ too

[04z71steve]

hmm i just started my 401 last year and it did decent now its doing nothing

[Zembonez]

Stocks are funky right now. The market has been off. I believe it will level out soon and begin to make its way back. We are still way ahead of the mark set about 4 years ago.

[cerbomark]

sit tight, nothing else you can do and a 401 is a long haul unless you are ready to retire and cash it in. Then you have a problem. And think about this, if you are contributing every month, you are getting a good price for what you are now buying.

[RyanbabZ71]

I am nowhere near retirement (well I tell my wife when she starts working I am going to retire this summer but thats not gonna happen, its nice to dream). Started the 401K back in 03 it has never went down as much as it has in the past few wks. I know there is nothing I can do and I am just gonna have to wait it out ut I can complain about it.

[bigBP]

Yeah, if the market takes a dive this summer I'm going to be looking at buying some stock for long term investments.

 

I noticed my 401k ROR for the fourth quarter of last year was slightly negative, guessing 2008 won't be much better. Oh well, I've got what, probably 40 years or so till retirement

[Wingnut]

2k already this year? That's pretty bad.

 

 

Don't sweat it though. Like they've said...It's a long term thing. Several years ago I watched mine drop 10 times that much in less than one quarter. I've made that back and more since. Now, most of my 401k is in what's considered "high risk" areas (I've got a long time until retirement) so large fluctuations are to be expected...But WOW...That was a lot of money.

 

Also...Don't rely on that 401k alone. Go hire an investment guy/company and throw some more $$$ at them. Even if it's only $20-$50 a month to start. I always take half of any pay raise I get and give it to my investment guy and/or my 401k. The last two years, it's been my entire raise that I've added.

 

Speaking of money...That's my $0.02

 

 

P.S. Don't ever ever EVER NEVER EVER take money out of it until you retire.

[overlord1]

P.S. Don't ever ever EVER NEVER EVER take money out of it until you retire.

 

Very true! My wife changed jobs a few years ago and her previous employer did not roll over her 401K to her new employer but instead sent her a check for the full amount. Needing the money she cashed it not realizing that she would be hit with a 50% tax bill!

[y2kz71]

You can however reinvest your 401k to different funds that are low risk and may not be taking a nose dive, then go back to the others when the market changes....sometimes its about not losing money instead of making money. My 401k has several different funds that I can chose to participate in by percentages.

 

My ROR went from a -0.67% loss last month to a -1.82% loss average over the last 3 months, doesnt sound like much in percentage but if you have alot of money in the 401k it does add up to some serious $$.

[Sierra54]

I can't agree more with holding tight and staying the course if you have several years before retiring. Another forum with alot of good investing advise is: www.diehards.org/forum

This site also recommends many easy to read books on investing, asset allocation and the benefits of passive rather than active investing. Why pay someone to manage your money when you could probably do it better with a little research. Who else cares about your return more than you?

[MCourson]

Your Personal Rate of Return

This Period -10.7%

 

 

Time to up the percentage coming out of my check.

[michigansilver03]

401k are long term, stick with it.

[Spoonman]

Lost many $$$$'s as well. Keep focused on long term goals, I / we are buying at lower costs.

 

I do believe that a few factors will keep it volitale; election year, mortagage and lender crises. I would not expect any normalcy until the election is over...........