How Low Can Your 401(k) Go?
Stock market losses can be heartbreaking. But sharing your stories of nest egg decline can be cathartic. Here are a few personal finance bloggers to commiserate with or pick up some money tips from.
- 2 Million's 401(k) is down 33 percent.
- AllFinancialMatters says his wife's 401(k) is down 39 percent this year.
- My Money Blog lost nearly $12,000 in retirement and brokerage accounts.
- Get Rich Slowly offers tips for investing in a bear market.
- Consumerism Commentary is buying while the market is down.
- Five Cent Nickel discusses recovering from a stock market decline.
- I Will Teach You to Be Rich shares his take on the financial crisis.
- ShAARP Session compares 401(k)'s to fried eggs.
Tags: blogs | retirement | 401(k)
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Reader Comments
I retired in 2005 and do not work. In one month I already have lost from 112,000 to 94,000in my Retirement Fund for 2015. When I started in 2005 I had $133,000 total. I am very upset about this loss. The mutual fund guys tell me last month that the only way I may go is by money market. I dediced not too at that time, but since then, I have lost 28,000 in one month. Also, I do not have extra monthly contributions to add to the portfolio. I tell myself that I wil be better off to stay in, but at this rate I will not have any of my retirement left that I worked so hard for. I am paying at least 20 percent of my retirement annuity to pay off credit card debt and make more thatn the minimum. Any advise.
Retirement Annuity
Any advice on whether I should surrender a retirement annuity which is losing money fast with this market flucuation. I know there is a surrender fee and I contibute each month to it..
Advice for Sharon of VA
Sharon,
It seems like you feel you have worked very hard for your money and can't bear to see it evaporate in front of your eyes while your fund manager tells you to more or less hide cash under your mattress with a money market account.
Truly, if you do not have market knowledge, you are safer not investing. So four words of advice:
CASH AND FETAL POSITION!
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