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So we got our 401k statement today...  

post #1 of 21
10/24/08 at 3:44pm
Thread Starter 
And man, does it look bad. I know it's short-term and will probably bounce back (after all, we have 50 years or so until retirement) but our "gain" this quarter? Was NEGATIVE. -2.8%, to be exact.

Bah. It's so tempting just to throw everything into a 4.0% laddered CD right now.
post #2 of 21
10/24/08 at 4:00pm
-2.8% is very very good, considering the Dow is down 25% this quarter.
post #3 of 21
10/24/08 at 4:03pm
It is depressing. I've "lost" 10% for the third quarter this year and another 20% just this month. But since I haven't cashed out I haven't actually lost the 10% or 20%, and like most I really am counting the the market to go back up sometime in the next 35 years.
post #4 of 21
10/24/08 at 5:36pm
Really? 2.8% is nothing! There will be ups and downs. Don't sell low. Just ride it out.

Aven
post #5 of 21
10/24/08 at 5:56pm
IMO, -2.8 isn't bad at all. we're at about -4% which also isn't bad. you definitely do NOT want to do anything to it right now. you've got decades left. does your company match your input? because if it does, you're still making a buttload more money than you would in a different setup. you put in 1000, they match, you make a bunch more even with the -2.8%. just sit tight.
post #6 of 21
10/24/08 at 6:02pm
Man...we were purposefully not looking at our statement this month, knowing it would be down. And then we decided to bite the bullet.

We're down over $40 K.

Wish we hadn't looked.
post #7 of 21
10/24/08 at 6:10pm
Well if it makes you feel better you are not alone. I am sorry I looked at ours too! I'm not too worried though since I have 30 more years until I can take it out.
post #8 of 21
10/24/08 at 6:32pm
My husband warned me not to look at the statement either. I couldn't help myself!! We lost 30% of our larger 401k! I know it wasn't all in this last downturn... we had lost a bit earlier in the year too I'm not sure what to do either. If you have faith in the stock market, it would be foolish to take it out now, right? If, however, you think it's a flawed system that was bound to crash... Then maybe dig a big hole in the backyard I'm not sure what camp I'm in yet...
post #9 of 21
10/24/08 at 6:34pm
as long as what your company is matching is more than your loss in terms of %, it's worth it to keep it in. and if you're not gonna retire within the next few years, i think it's worth it overall.
post #10 of 21
10/24/08 at 7:35pm
Thread Starter 
Well, the -2.8 is an average over the whole quarter. I know it's not bad, but still... we have very little to do with stocks/etc, so seeing that is just a downer.

Yes, the company matches to a point. It's great, free money. It just sucks when they say your "gain" (ha, ha) is negative.
post #11 of 21
10/24/08 at 9:37pm
I can't even look at mine. And I'm leaving my job at the end of next week, so I'm going to have to either cash it out to roll it into my new employer's plan or pay huge fees to leave it where it is. Either way, it sucks.
post #12 of 21
10/24/08 at 9:45pm
I decided not to look. Ultimately it doesn't matter to me. Pulling it out isn't an option and we've got another 40 years until we retire.
post #13 of 21
10/24/08 at 11:38pm
-2.8%? I *wish*. I think we are down like 30% or something. Uh, I better stop talking about it...
post #14 of 21
10/25/08 at 12:05am
Quote:
Originally Posted by HipGal View Post
-2.8%? I *wish*. I think we are down like 30% or something. Uh, I better stop talking about it...
: mine is down 22.55% just for this quarter. I'm already 30 so I don't have 50 years either.
DS's college fund is down 15% also.
post #15 of 21
10/25/08 at 2:03am
I should be getting my statement next month- I probably won't even open it. I know I'll get depressed even though I have 40+ years until retirement.
post #16 of 21
10/25/08 at 8:08am
DH's was down 15% and mine 4%. Mine wasn't too bad.
post #17 of 21
10/25/08 at 9:35am
Quote:
Originally Posted by notwonamesalike View Post
Man...we were purposefully not looking at our statement this month, knowing it would be down. And then we decided to bite the bullet.

We're down over $40 K.

Wish we hadn't looked.
Yep, this is us, too.
post #18 of 21
10/25/08 at 9:36am
Quote:
Originally Posted by Belleweather View Post
I can't even look at mine. And I'm leaving my job at the end of next week, so I'm going to have to either cash it out to roll it into my new employer's plan or pay huge fees to leave it where it is. Either way, it sucks.
You can't roll it into an IRA?
post #19 of 21
10/26/08 at 5:21pm
Quote:
Originally Posted by Herausgeber View Post
You can't roll it into an IRA?
I can, but I have been given to understand that I still have to liquidate out of the funds that I'm in, and if I roll to an IRA there would be tax consequences.
post #20 of 21
10/26/08 at 7:20pm
If you have 50 years until retirement, I"m assuming that's full government retirement, which would make you 17 or 18 years old? With a 401(k) already? I wouldn't be worrying too much about a 2% drop. We're a little over a decade away from retirement, we've lost over 20% and we're still not making any asset allocation changes. I really do believe that even by the time *we* retire, things will be back on track. Even if we go through a depression.

I can't even imagine how the next 50 years will be for you if you are stewing over 2 measly percent. Take a breath and good luck!
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