Yesterday I got my 401K statement in the mail. I lost $9,000 in retirement savings in the year ending Sept. 30, which is before a lot of the worst stock market mayhem took place. So...yeah. If I were to check the balance now, which I won't because I don't feel like throwing up, I would guess I'd see that it's probably down something like $12-15K total.
At this rate I'll be working until I turn 80. Thanks Republicans!
3 comments:
when my husband left his last job (in February) their retirement system was unique and so he HAD to cash in his 401K. we were sick over it (and his current company won't offer it for a year) but the other day we were talking and were SOOOO glad we did. it was worth the fee we had to pay to do it, just to protect our money.
Every bear market in history has been followed by a bull market so I'm not at all worried there.
What concerns me is the strong possibility that Washington will eventually loot my 401 account. Check out this article if you have not already: http://www.investmentnews.com/apps/pbcs.dll/article?AID=/20081007/REG/810079894
Thanks Don, I'll check it out. This current recession will unquestioningly be a tough ride for a lot of people. We're all going to have to watch our investments very closely, that's for sure.
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