Comments on: How’s My 401k in the Current Market?- I’m Not Really Sure!

By: Carnival of Personal Finance #185: Cheesehead Edition | Sequence Inc. Fraud Files Blog

Sun, 17 May 2009 16:28:32 +0000

[...] When did you last look at your 401(k) account value? Think Your Way to Wealth is avoiding looking at his account, and here’s why. [...]

By: RC

RC — Wed, 14 Jan 2009 04:25:15 +0000

@ Slinky- Nothing wrong with starting out when the market is down- I kind of did the same after the tech bubble burst-and with the time horizon you have, you should be in great shape when you are ready to retire.
If your fiance’s allocation is odd, you should have him in better shape pretty quickly-which he will thank you for down the line!

By: Slinky

Slinky — Mon, 12 Jan 2009 15:46:06 +0000

@RC – I have to admit…a lot of my confidence comes from some fortunate timing. I just started my 401k in June of this year, so right before the big slide. I’m only down about $250 from what I’ve put in. I’ve also got 40 years before I plan on using this money, so it’s kind of hard to be very concerned about it!

I finally talked my fiance into checking on his portfolio though. He’s down rather a lot, more than the market I think. We’re going to sit down and give his portfolio a thorough going over and see exactly where he’s at and adjust his asset allocation. I’ve done a lot more research into asset allocation and investing in general, so I get to be his financial advisor! Sounds like fun, but it makes me nervous too! I’m pretty confident I can do better than his current, rather odd allocation though.

By: RC

RC — Sat, 10 Jan 2009 01:25:26 +0000

@Slinky- I think you have a very good attitude. I just looked at mine this week- Since I am mostly in broad based funds, the damage was about what I expected, and close to what the market has done in general. My matching deposits go in in January (matching my contributions from the previous year). I am definitely more of an optimist, which it appears you are too!

By: Slinky

Slinky — Wed, 07 Jan 2009 20:23:07 +0000

I’m paranoid and somewhat obsessive about finances, so I check mine after every paycheck to make sure my contribution got deposited alright. I also check it twice a month when I do my budget and update my net worth and other statistics. I’ve got a long time horizon and a high risk tolerance though, so I’m not really bothered by the market. To be honest, I was cheering the market Down for the great buying opportunities.

By: RC

RC — Thu, 01 Jan 2009 15:54:47 +0000

@Karla- It sounds like you have a good plan- I definitely think 17 years is plenty of time for a recovery and then some!

By: threadbndr (karla)

threadbndr (karla) — Wed, 31 Dec 2008 18:38:10 +0000

I’m also not looking at mine – still investing. 17 years out, there should be plenty of time to recover.

I don’t think I’d panic sell, but why tempt myself LOL.

By: No Holiday Break For Me! The Roundup

No Holiday Break For Me! The Roundup — Mon, 22 Dec 2008 08:55:57 +0000

[...] Think Your Way To Wealth: How’s My 401k in the Current Market?- I’m Not Really Sure! [...]

By: RC

RC — Fri, 19 Dec 2008 03:26:40 +0000

@Nicole- Sounds like a good idea! If you have your retirement assets allocated for your planned retirement date, you are probably doing the right thing. No sense in worrying about short term performance when you are in it for the long term, for example.

By: Nicole

Nicole — Wed, 17 Dec 2008 09:03:57 +0000

When the market took a downturn, I made a conscious decision not to monitor my TSP (Thrift Savings Plan). I made sure that my funds were well allocated in a Lifecycle Fund that is geared towards when I want to retire. My husband is doing the same thing with his 401(k). We even went so far as to elect not to receive monthly statements. Instead, we plan on checking our balances online after the new year. We’ve got enough time to recover from the damage and its best not to get too wound up about it! Stay your course, its the only way to go at this point!!