My 401k is worse than your 401k!
Long way to retirement
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January 13, 2009 at 6:04 pm
awesome
January 13, 2009 at 6:16 pm
does your employer match that contribution?
January 13, 2009 at 6:21 pm
Pull your cash out now, before the world ends! Stuff it under your matress, where it will be “safe”. Then send me your address so I can steal it and buy half a pack of gum.
January 13, 2009 at 6:22 pm
Pull your cash out now, before the world ends! Stuff it under your mattress, where it will be safe. Then send me your address so I can steal it and buy half a pack of gum.
January 13, 2009 at 6:24 pm
My retirement account lost almost as much money as I put into it in 2008. And that’s after counting the employer match.
You have to look at it and realize that you are buying in cheap, hopefully the market will continue to perform as it historically has, and the value when retirement rolls around will be good. Unless, of course, you are retiring now, in which case you are screwed.
January 13, 2009 at 6:37 pm
Holy shit,thats more that I make in a year!!!
January 13, 2009 at 7:16 pm
Investing in beer, and returning the cans for recycling would bring you more enjoyment and more money. Or maybe finding a broker who knows what the hell they are doing might be better…Change bomb incoming, it will bounce back, or thats what our new fearless leadership says anyway.
January 13, 2009 at 9:30 pm
Yeah, lost a few grand this year. I hope it does bounce back w/in the next 10 years…or I am screwed.
January 13, 2009 at 10:05 pm
Expect a loss this new year. Hopefully everything gets better there after.
January 13, 2009 at 10:09 pm
Obviously the person just got the account…
January 13, 2009 at 10:22 pm
@SteamUserNotSet: so $1.44 in 3 months is a just opened account? last time i checked even 1% of my paycheck is 10 bucks
January 13, 2009 at 10:38 pm
@goforbroke: It’s not that hard to edit that. And he probably didn’t work very long.
January 13, 2009 at 10:51 pm
@SteamUserNotSet: so your saying your first post might not be true then? Because i could edit it if i had worked for a long time? As for not working for very long last time i checked it was hard to keep a job working 2 hours a month.
January 13, 2009 at 10:55 pm
@goforbroke: You must be a total idiot for me to have to explain this to you.
Ever heard of part time? Perhaps he/she has 2 jobs?
January 13, 2009 at 11:09 pm
Just got my statement yesterday. Lost 40% this year, even including what I put in…
January 13, 2009 at 11:46 pm
@doc: Depressin’, ain’t it?
January 14, 2009 at 12:40 am
@SteamUserNotSet: … If you’re working part time you’re company is not obligated to, nor will they, provide a 401k for you. Let alone if you’re only working 2 hours in three months to earn that little amount of a 401k.
January 14, 2009 at 1:30 am
@macol: Yes, they match.
@steamuser: Nope. The account goes back to 2004. It was not edited (other than removing account numbers) and I worked there for four years. I just got the current statement in the mail and it’s at $1.12 right now. The ‘rest of the story’ is that I took all my money out and used it a few years back. How I still have money in there I don’t know. It should be zero.
I think I’ll just let the money stay in there and watch them waste their money on postage and printing for this buck.
January 14, 2009 at 12:11 pm
LOL @ gambling with your retirement in the stock market. Any of you guys heard of a “savings account”? Put down the the kool-aid and back away!
January 14, 2009 at 12:15 pm
@SteamUserNotSet: Do i need to explain myself for being an idiot or does everyone elses comment make you feel like an ass?
January 14, 2009 at 1:04 pm
@conan776: The problem w/ savings accounts is that it’s a guaranteed way to lose money over time. The interest rates are so low that they don’t keep up w/ inflation. The longer you leave your money in the less it is worth.
January 14, 2009 at 5:34 pm
@nyokki: Inflation had been at < 3% for years. If you can’t find an account that pays that much in interest, you are doing it wrong.
January 14, 2009 at 8:35 pm
@conan776: ISAs were down to 1.75% in 2007-2008. There are higher yield ones, but you also have to pay taxes on your interest. It can lose you money over time. In France it go so bad the nearly everyone pulled their money out of savings.