At work today, we had our annual meeting with our retirement plan representative. I have to admit I have really tried to not look at my 401(k) lately, because I knew it wouldn't be pretty. However, with the rep paying us a visit I figured I would log on and take a peak today. I should have resisted the urge. This is what greeted me:From: Jul-27-2007
To: Nov-20-2008
Percent Return: -53.15%
I had heard the running joke about them now being 201(k)s..... but this is just ridiculous....
3 comments:
I know what you mean. Rick and I haven't had the guts to look at ours lately either. It's so depressing to see our retirement dwindling.
We have been very disappointed to see our 401K's decrease as well, but the other day I heard a financial guy on the radio that put things in perspective and made me feel a lot better. For people that have a long time before they retire, this will actually benefit you in the long run because 1. If you look at the history of the market it has ups and downs (sometimes big ones) but with an upward climbing slope. And 2. The amount of your paycheck that you are contributing to your 401K now is buying you more stocks now then it did before the market went down, because they are cheaper. So now is a good time (if you can afford it) to increase your 401K contributions. Hearing this made me feel a lot better so I thought I would share.
I know you are an old man, but at least you still have a few more years to build it up again! :)
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