Friday, February 27, 2009
401K
I just looked at my 401K and I think I need to take some berievement leave. My old Safeco account is down 17.2% year to date and my new Liberty Mutual account is down 13.9%. I don't even want to mention losses from last year. I think I was making contributions just fast enough to break even. I think I'm going to cry. At this rate I might be able to retire sometime in my early 90s. If anyone knows any rich single women, send them my way. It's going to need to drop a lot more, and some laws are going to have to change before I'll consider any rich single men.
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2 comments:
Ahhhh, yes....the dwindling 401k. I feel your pain, I only lost 4% last month and felt like I came out ahead of the game! That's just sad. It pisses me off when politicians talk about hammering the 'investor' class and the drooling masses fall for it not realizing that they too are part of the investor class....it's called their 401k, or what many are (or were)counting on to help bankroll their golden years. Maybe the average citizen will wake up now and realize they've got more skin in the game than they realize....
And really anybody who doesn't want to rely on Social Security to take care of them when they retire should be investing in the stock market. A 401k is the bare minimum, everyone earning a paycheck should be contributing to an IRA too.
But I'm getting off track. This whole class warfare nonsense seems to be getting worse. I guess there's nothing like an economic downturn to get a large portion of the population to jump on the "punish the rich" bandwagon. And I guess having a 401k makes me a casualty too.
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