Comments on: Your 401k losing money? Here's what to do

By: kelly

kelly — Wed, 07 Dec 2011 19:02:06 +0000

When the economy and the dollar collapse, the government will confiscate assets in retirement funds to pay debt. Stop contributing to retirement funds and invest in individual accounts so you have complete control over your money.

By: Dave

Dave — Mon, 28 Nov 2011 23:21:36 +0000

Your advise is good if the sky were not in fact falling. But I’m afraid it has been long enough proof that the market no longer offers up those 55% yearly increases and the downs are more frequent and the news continues to worsen. So what’s to do? Get out. Take your little loss and protect the rest. Are you kidding me? Invest in foreclosure real estate or Iraqi Dinar even pay off your home, but leave the mutual funds to flounder in a pool of poorly managed financials with no hope of substance. Our government has no intention of helping the average Joe, cutting taxes, reducing spending, bringing back or creating jobs, or any of the other political hoopla. It is simply cratersville…things are not working as they used to work (including people) and the government is sucking every last cent out of the working class to pay for votes among the growing free-loading welfare state. If you think that big banks and wall street are going to save the day for an average 401k investor, think again, they are in this to fleece you and build golden parachutes.

By: robert

robert — Thu, 11 Aug 2011 14:30:22 +0000

I am considering rolling over some of my 401 k funds to purchase service years in my state retirement plan which will allow me to retire earlier at a higher percentage of retirement? is that a good idea?

By: Bob Driver

Bob Driver — Fri, 08 Apr 2011 23:28:50 +0000

I don’t understand why it was so hard for people to see how bad things were at the time. Major banks failing, jobs down, housing collapsing. I told everyone I knew to sell on Jan 2, 2008. Then I told everyone I knew to sell if they were still invested on Aug 29,2008. I told around 30 people, close friends etc and yet not one listened. They all said no, no, you hang on through good and bad, buy and hold etc. I have very good reasons for why I picked those dates at the time to use as my guide to sell. It’s really not that complicated to be honest. It’s true that there are more bull markets overall and that bear markets are usually corrections, pull backs etc. But when it’s 50 percent plus on the down side that isn’t a pull back. Here is a stat for you all, buy and hold from 2000-2011 negative 34 percent, Negative! Using my system from that same period would have netted you about 1,100 percent.

By: Billy McDougal

Billy McDougal — Thu, 24 Feb 2011 12:42:13 +0000

@Bill Hammons: What exactly did you do? If in a 401K, move all existing money into bond funds? What about future contributions? Keep it in stocks so you are still buying low. And the most important question – when/how did you know to pull the trigger? TIA

By: Bill Hammons

Bill Hammons — Mon, 20 Dec 2010 20:41:55 +0000

I see all these commits are from 2008. So how did that “stay the course” work out for you? I pulled all my money out in Feb. 2008 and put it in bonds. My follow employees wouldn’t listen and some lost up to $40000 I gained $10000 in 2008. There’s a reason to leave a sinking ship before it goes all the way down, you’ll be sucked under.

By: 25 Resources To Help You Get Through The Financial Crisis — Broke Grad Student

Thu, 23 Oct 2008 11:09:08 +0000

[...] Your 401k losing money? HereÂ’s what to do [...]

By: Gail Bankston

Gail Bankston — Thu, 16 Oct 2008 17:29:22 +0000

Hi,
My 401k is down 17%! I recently lost my job due to downsizing so nothing is being contributed to it. Should I still leave it alone and hope for the best considering the economic climate now? I am 55 years old and it’s now valued under $2000. (Yes I started late..)

By: Robert

Robert — Sun, 12 Oct 2008 14:53:35 +0000

i’ve talked to numerous financial advisors and subscribe to a number of market related newsletters.

By-and-large, savvy investors and experts are pulling their money out without delay. Even 401-k’s can be transferred to safe-havens within your selections of available funds.

From there you can continue your contributions, then you can jump back into the market when things seem to start to turn around.

As I was told you only loose money when you withdraw your money, not transferring it to safer alternatives.

I know, this is called market timing, but, if there was every a need to time the market now is it! I

In the regular day-to-day market during normal times market timing is not recommended, but this is self preservation.

This morning I read and article by a gentleman with a PHD in finance, he call the recent events the result of what’s called a “secular” market and may take up to 15 years for a full recovery. Who has that many years to wait!

I for one have sat-tight and watched my retirement essentially disappear, I think doing nothing would be a great disservice to ones self.

When I get the green light, I’ll transfer back to the same funds I had for the same amount or more than when I pulled them out and ride the wave back up.

Desperate times require desperate measures, market timing does not seem so risky at the moment…

By: Richard Owen

Richard Owen — Wed, 17 Sep 2008 23:10:01 +0000

Err,

Dare I say I told you so? Advice such as this is outdated and quite simply wrong re-read my original post dated July 18th and ask who’s advice you should have followed!