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Ugh. I just peeked at my 403B. I lost a heck of a lot of money this past quarter (at least what I consider a lot of money). This is so depressing.
My first reaction was to move my money to a guaranteed fund, but my BIL said to leave it where it is.
If I lose anymore though, I'm going to go into a deep depression.
I've lost about 20K in the past few months. But I am only 34. I've got time yet.
In my laymans opinion, what to do should be based on how close you are to needing to draw on the funds. The closer you are, the more you might consider moving the funds to a safer investment.
But of course, consult your financial professional for real advice.
Good Luck.
Unless you're a few years away from retiring, don't worry about it.
By the time you need the money the market will have recovered. You've already lost the share value, all moving the money now would accomplish would be to make the loss permanent instead of temporary.
I got my statement from my financial people today. I finally opened it reluctantly. I've lost alot of money and I am 57 years old. It's heartbreaking. Every day, I try to stay calm and believe it's going to be ok.
When this economic thing started I called my financial planner. He had already moved all of my accounts to safer ground. Thank goodness for him.
I can't even imagine the stress that he's going through with all this mess.:(
It is such a sad state of affairs for decent, hardworking people to lose money they have earned, worked hard for and saved.
These are bad times. So despite all of that.
We have much to be greatful for. Right now I itch all over, dang poisen ivy. Yet I am going to ask everyone to list something they are greatful for. Something not connected to money.
I will start.
I am greatful for having Bennybunny. For his sweet kisses, nudges, the way he greets me and follows me from one room to another. And for letting me hold him in my arms and kissing that little bitty wiggle nose. That is something money can't buy. A bunny's love.:love:
I am grateful that my last knee replacement seems to be a good one. Third time is a charm. Now I can play more with my girls and enjoy life like I remember.:)
I'm grateful I don't have poison ivy. :D
;)
Yes, I opened my quarterly statement a few days ago. I SO wish I would have just thrown it away unopened.
I KNOW it's only a loss on paper ... if you aren't withdrawing your investments, you just ride it out. But still ... it's an UGLY number to see. :(
I am thankful for my daughter... she is beautiful and the light of my life. I am thankful for my husband who helped me create her ... we are BOTH the lights of his life. I am thankful for my family.. my mother who is my best friend... my father who can be a pain in the butt but is a good man. my siblings and my neices and nephews. I am thankful for ALL the people I love. I am thankful for our doggies who bring Hannah such joy and keep us lighthearted
Hey, I'm not going to look, because the market will recover, and it will be more fun to look back afterwards and see the dip and recovery than see it now! I won't be retiring for a good long time, so I'm not too concerned with the short term.
I refuse to look. In fact, I'm thinking of loading more in! (Buy low, sell high.) I'm just waiting for the market to apparently reach bottom. One financial guy said, "You don't lose the money until you actually sell the stock." I think a large cap fund could be a pretty good play pretty soon, in my strictly lay opinion!
:o Yes I as well have lost money with my 401K in stocks.. Now I have not looked since this last week of so much blunder.. I am hoping after Nov 4th things will start ironing out & picking back up..
I'm not gonna look. I'm young and the market will recover. :)
No - and I don't want to. We have an IRA and a 401K, and I have no intention of looking at either at this point. I admit I don't really understand why all of this started, but I would think that people panicking and pulling thier money out of banks and other institutions would only make things worse, right?
mine hasn't got here yet. i'm early 50's, and unless something really really good (winning the megamillions) or really really bad happens, i'm working for at least 15 more years. i'll look at it, and whimper and move on.
AIG was the company that held state workers 401K accounts. I did roll
them over when I retired a few years ago. I really didn't have enough to
play around in stock investments when I don't know anything at all about how the markets work.
I got one of my statements yesterday and I didn't want to open it.. I asked my daughter to open it and look at it and just say "Oh Mama, it don't look that bad!".. She wouldn't do it so I opened it myself.. That was just one of my retirement funds.. I have NOT and will NOT look at my 401K when it comes in.. I was hoping to retire in about 3 years... now I reckon I will work until I am 90!
When I retired a couple of years ago and then wanted to draw a partial from my 401, I was told that since I was no longer an employee of the company, I would have to take it all or just leave it as is. So I withdrew the entire amount (not a whole lot since the company hadn't had a 401 in place for very long), and instead of doing a rollover, I just put it in a money market account. I'm glad now that I did it that way even tho I'm not earning a whole lot in interest, at least I'm not losing anything either! At my age, I don't have the time to hope for a recovery!!! :(