|
Replies: 15
| visibility 1
|
All-In [26968]
TigerPulse: 96%
Posts: 44823
Joined: 7/6/10
|
I normally don't look at the 401k
May 5, 2022, 10:52 AM
|
|
But I've been seeing people talking about it lately, so I opened up the quarterly statement I got the mail. I laughed out loud at the idea of "losing" almost $20k in three months. Given that I'm still 20 years from retirement at least, I understand that it's not something to worry about. In the long term, it always goes up. I hope those closer to retirement have funds in more stable environments.
|
|
|
|
 |
Hall of Famer [24442]
TigerPulse: 100%
Posts: 13952
Joined: 7/3/01
|
To be precise, one can't actually see a 401K.***
May 5, 2022, 10:54 AM
|
|
|
|
|
|
|
|
Oculus Spirit [97649]
TigerPulse: 100%
Posts: 64785
Joined: 7/13/02
|
Yeah you can, they're pretty little numbers on a webpage
May 5, 2022, 11:05 AM
|
|
Some people get the pretty little numbers in the mailbox in an envelope on a piece of paper.
And that's literally all they are until you find someone to buy your stock. Then it's cash in the bank at whatever rate they think your stock is worth and the price they agree to pay you for it.
Just like crypto, or NFT's, the trick is to get people thinking you have something of more value than it really has. Get in on the ground floor of the next big thing. George Washington's fake teeth probably cost him a good nickel back in the day. Today you can probably find someone willing to pay your mortgage off for a set of his teeth.
|
|
|
|
|
|
Hall of Famer [23946]
TigerPulse: 100%
Posts: 12077
Joined: 9/1/14
|
|
|
|
|
|
Hall of Famer [24442]
TigerPulse: 100%
Posts: 13952
Joined: 7/3/01
|
Time flies, I guess. In 2008 some of us who were a little
May 5, 2022, 11:01 AM
|
|
closer to retirement than you are now saw everything we owned cut in half. In half. Felt like 1929. Or what we had heard about 1929. Started calling our 401Ks 201Ks. But of course it recovered fast. Was actually a good thing for those of us on automatic deduction/contributions: Those purchases at the bottom did amazingly great.
|
|
|
|
|
|
All-In [26968]
TigerPulse: 96%
Posts: 44823
Joined: 7/6/10
|
I kinda remember that. It was very early, so the impact
May 5, 2022, 11:22 AM
|
|
was obviously not great. But I remember in the middle of that, realizing that I had never really "invested" my 401k...it was all sitting under whatever the base, stable, fund was. So I didn't go into the stock market until it was already bad. So yay for me I guess. But the balance would have been very small at the time, since I was only a year or so into it.
|
|
|
|
|
|
Oculus Spirit [80954]
TigerPulse: 100%
Posts: 56044
Joined: 9/13/04
|
20k in one month?
May 5, 2022, 11:04 AM
|
|
Try seeing that disappear on a Tuesday.
Many more Tuesdays like that and I'll be owing someone money.
|
|
|
|
|
|
All-TigerNet [12988]
TigerPulse: 100%
Posts: 14008
Joined: 11/2/15
|
Re: I normally don't look at the 401k
May 5, 2022, 11:21 AM
|
|
-$136k since Jan.
|
|
|
|
|
|
Oculus Spirit [80954]
TigerPulse: 100%
Posts: 56044
Joined: 9/13/04
|
Yep...and thats after several "rebalancings" when they
May 5, 2022, 11:23 AM
|
|
sell a bunch of stuff to try and stop the hemorrhaging.
|
|
|
|
|
|
Orange Blooded [3508]
TigerPulse: 94%
Posts: 4240
Joined: 12/5/06
|
Re: I normally don't look at the 401k
May 5, 2022, 1:45 PM
|
|
I’m 10 years (almost exactly) from planned retirement (62) and my holdings are probably (or should be) more conservative than yours. I could have done more to rebalance, but I’m only down 5% from my high in 4Q2021…so I don’t feel too bad. As you say…you have plenty of time, so wouldn’t worry too much in your situation. Overall, I think a lot of folks are just spoiled with the astronomical returns the past 10+ years…
|
|
|
|
|
|
Orange Blooded [4679]
TigerPulse: 100%
Posts: 6557
Joined: 4/11/20
|
Re: I normally don't look at the 401k
May 5, 2022, 1:51 PM
|
|
I won’t give a number for what I’m down in 3 months but it’s into the 6 figures. It’s a bit unsettling at my age but I’ve ridden the waves before. I just hope this wave is not a tsunami and a sunken boat.
|
|
|
|
|
|
Orange Blooded [3508]
TigerPulse: 94%
Posts: 4240
Joined: 12/5/06
|
Re: I normally don't look at the 401k
May 5, 2022, 2:11 PM
|
|
Well if that’s the case and you’re relatively close to retirement, I’m guessing you have a sizable nest egg…most people (including myself) would probably be happy to trade with you.
|
|
|
|
|
|
Orange Blooded [4679]
TigerPulse: 100%
Posts: 6557
Joined: 4/11/20
|
Re: I normally don't look at the 401k
May 5, 2022, 2:50 PM
|
|
I do have a nice nest egg. I’ve lived below my means and saved my entire adult life. I’m 57. Hoping to make it through one more big correction.
|
|
|
|
|
|
110%er [5641]
TigerPulse: 92%
Posts: 12116
Joined: 9/28/08
|
Re: I normally don't look at the 401k
May 6, 2022, 8:40 AM
|
|
Yeah, I finally checked 401(k) last night. Enormous losses, but it's on paper. Luckily I have a significant % invested outside the market that is generally not subject to much movement in these types of events.
|
|
|
|
|
|
Orange Blooded [4679]
TigerPulse: 100%
Posts: 6557
Joined: 4/11/20
|
Re: I normally don't look at the 401k
May 6, 2022, 9:53 AM
|
|
You’re smart. I might not be. Lol. I’m probably too aggressive.
|
|
|
|
|
|
110%er [8885]
TigerPulse: 100%
Posts: 9760
Joined: 4/27/13
|
Re: I normally don't look at the 401k
May 5, 2022, 9:14 PM
|
|
the cost you pay not to read mean tweets
*Joe and Xerox have picked your pocket
|
|
|
|
|
|
Replies: 15
| visibility 1
|
|
|
50
