Working people- your 401k...

[kamakiri]

So the DOW is finally back over 9,000...I'm thinking it shouldn't hurt most of us as much to look at our 401k accounts.

I still wouldn't want to look just at the quarterly statements...but if you can look at a current balance as of last week, it shouldn't be too painful.

Good luck to you if you *do* look!

 

[Katnapper]

 

[hibiscusmile]

gotta have money for that

 

[Rick]

Checked mine and it went up since last time I checked by a grand.

 

[kamakiri]

haha. No kidding...

Checked mine and it went up since last time I checked by a grand.

If you last checked anywhere near or since mid-March, you should be up. And that's sort of the whole point of the post. We shouldn't be as afraid to look at it right now.

gotta have money for that

...or been unwise enough to cough it up

 

[yen_saw]

So the DOW is finally back over 9,000...I'm thinking it shouldn't hurt most of us as much to look at our 401k accounts.I still wouldn't want to look just at the quarterly statements...but if you can look at a current balance as of last week, it shouldn't be too painful.

Good luck to you if you *do* look!

Yeah it was "painful" last year I lost 45%! Still trying to recuperate from the lost but i doubt it will gian 45% for me this year. One thing I would suggest is to invest in Roth IRA - if you are eligible - while the market is down right now and have your profit grow tax free.

 

[kamakiri]

Yeah it was "painful" last year I lost 45%! Still trying to recuperate from the lost but i doubt it will gian 45% for me this year. One thing I would suggest is to invest in Roth IRA - if you are eligible - while the market is down right now and have your profit grow tax free.

Ouch! The bad news is that to 'recover' from a 45% hit, you need to make about 82% from that low point.

And I was annoyed about being down 10% at the low. Pretty much recovered in my previous employers plan. Still a little down in the current plan. But overall, just glad to be off that bottom. Shouldn't be too bad today with the DOW hitting 9,400, even though it closed a little under.

Post-tax 401k or ROTH is a good idea for those who it is available or can afford to tuck a little more away.