Thru last week, I am down 17% for the year. I'll take it. My gal pals son's college fund has lost a full third of it's value.
Bloody 401K thread....how much ya down?
- Thread starter litespeedhuskerfan_rivals19671
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I’m not near retirement, so I’m not looking. My brain doesn’t do well when I see its down, so I ignore and keep shoving money in.
Meaning Start of January at it’s peak of the DOW.
Where are you since last April?
I looked for the first time in over 2 months today and am glad I did. I had expected worse, so it was a good decision for me. YMMV
I’m expecting another down ward turn again sometime this month...
You don’t lose unless you sell and you only sell if you need the money, so everyone just hang in there..
24% here, they just quit matching our 401K to. Hopefully that's the worst that happens, I still have a full time job (perspective)
Pretty ***** of a company to offer a 401-K and then quit matching a certain percentage.
As an active trader I'm up 16K, mostly from the short side
I'm some long but mostly cash
I think it will be a W recovery and we just finished the first leg up
will now head toward the lows and then a very nice bull will start
and of course I may be very sorry I think this way
I'm some long but mostly cash
I think it will be a W recovery and we just finished the first leg up
will now head toward the lows and then a very nice bull will start
and of course I may be very sorry I think this way
Donald had us all rolling in the green that is for sure. I took a peak a week and half ago and was down around 35% or so.
I am young and have a long way to go before I retire, so no at all concerned about the short term volatility. I contribute 6% and my employer matches 9%, so I look at it as free money anyway.
I'm betting that he isn't upset about it at all, and thrilled to have a full time job at same salary he had pre China's gift to the world. Every single person who has had their salary cut, or lost their job all together would gladly trade places. I have a feiend who's a lead lawyer for a large company here in Omaha everyone has heard of who took a 25% pay cut. Another who is a corporate pilot who took a 20% cut. My neice works for one of Omaha's largest emoyers and they made everyone go from salary to hourly and she's going to lose her insurance as she won't be getting enough hours. If all those people I just mentioned had a chouce, i'm sure they'd gladly trade a no employer match for their 401 right now.
We’re not talking on the same lines here.Lawyers and Pilots make a lot more money than a $ 12 a hour too..
Further more a 401-K is about your retirement not putting meat on the table when you need it the most...
Down 16.5% since my all time high back in Feb. I only looked today since the markets were good this week.
I was afraid it would be worse. I’m sure there will additional Coronavirus related downturns in the months ahead. I can probably ride those out.
I was afraid it would be worse. I’m sure there will additional Coronavirus related downturns in the months ahead. I can probably ride those out.
To you and I it's about our retirement (IE-later), I agree with you 100%, but for employers right now, it's money that they don't have, that they have to match right now, they don't get to defer those contributions until we retire, they have to pay now....and while I also agree pilots and lawyers make more, a 20% or 25% cut is a lot of money, period, and I have never begrudged successful people who made great choices and applied themselves and now make great money, good on them.. You just can't minimize it because they make more than $12.00 an hour. The lawyer I am talking about just bought a brand spanking new house, think she would have done that if she knew she was taking a 25% cut? I don't. My pilot frind made a whopping $15K last year because he accepted a new job with a company that immediately lost a contract they were going to use him for, so they didn't use him nearly as much as they said they were going to and he had to change jobs 6 months ago, so he didn't make nearly enough to even cover living expenses last year, so for him, 20% after the year he had last year, is huge.
Word!
Fortunately I've been told our department is good for the foreseeable future. Our positions are built into the contracts, and I'm the only one who works overnight so I'm pretty confident I'll get my hours.
I was thinking I'd cut my contribution rate to 2% from 6% and put the rest in savings. Might need it sooner rather than later.
I'm glad to read this, I want everyone to be successful. My company matches up to 8%, and i've been assured my job is 100% safe and nothing will change, so I am so freaking happy right now it's ridiculous. Lots of carnage in the streets right now.
This is the time to keep or increase your contributions, not cut them. If you want to save money, cut elsewhere, a 4% reduction in pre-tax contributions isn’t going to put 4% in your pocket, it’s probably going to be more like 3%. If you are making say 5k a month is $150 a month in your paycheck really going to help that much? Or could you revise your spending to achieve the same thing? Work to lower your cell phone bills, cut recurring expenses like Netflix or cable/satellite. Buy generic brands, eat less.
Is there a generic Bud Light? Fireball? Costco already screwed me by dumping the Perdue buffalo wings. I’m running out of options here!!
They also have some of the largest debt repayment costs for their training as well.
My pilot buddy was on the hook for a huge penalty if he left before 2 years because they coughed up 25K to get him up to speed on their aircraft. However, since they were a great company that understood the situation was not of his doing and they felt bad about the contract they lost and therefore had no work for him, they forgave his pro rated penalty and he was able to walk for "free". Lots of people just think all pilots make bank, and a lot do, but you put your time in and sign your name to huge penalties if you decide to leave early. It isn't an easy living.
Just checked-- I am down about 16% from my all time high, but I am about 5 years from retirement so I am in a Target 2025 fund. That probably helped mitigate my loss. I also checked, and my current balance is right where it was a year ago at this time. That lessens the sting a little.
Down a little under 10% from my high in February. I took a risk and shifted some things when it got really crazy. Saved myself an additional 10% loss but had some extra stress wondering if I made the right move.
You should be thanking Donald that your portfolio isn't 70%, 80%, 90% down right now.
As an active trader I'm up 16K, mostly from the short side
I'm some long but mostly cash
I think it will be a W recovery and we just finished the first leg up
will now head toward the lows and then a very nice bull will start
and of course I may be very sorry I think this way
I was thinking that myself until yesterday. I believe we may continue to ride up whether it makes sense or not. There will be some weeks where we probably trade flat. They pumped so much money into the system that we may be buoyant for quite a while. The next big dip could potentially be months out.
Lets face reality. The interest rate at 0% really helps. Is anyone going to put money into something that guarantees you .1%? The only problem is that the fed is about of ammunition. If this virus thing ends in the next couple of months we can bounce back quickly. If it goes 6-12 months everybody better hunker down- it will get ugly. I really think people will realize after another month or two that we can't destroy the economy for several years by shutting down for several more months. Just my two cents.
Down 20% in retirement and 47% in non-retirement, most of which was invested over the fall and winter in an all equties/index mixed portfolio.
Agreed.
I don't understand this current rally. I mean I do, people are trying to grab valuable companies at a small discount...but the Q2 news is going to be BAD. Then the squirrels will do what they do and sell off for a few days.
Baffles me that people are buying so hard in the face of skyrocketing unemployment and calls for 20-30% GDP drop. You gonna tell me that's already priced in?
When look at all the life's that were saved by his fast reaction to this pandemic and the stock market down only 16% its pretty amazing. What an amazing leader he has been