Finances

[bertine]

Why did I just look at what my IRA and 401k are worth right now? It is so depressing.

Comments

[ex-ciannait.livejournal.com]

Yeah, today's pretty much the worst day to do that in seven years.

The beauty of 401(k)s is that they bounce back. No, really. They're diversified, especially if you chose a lifetime fund, and are un-emotional investing, unlike investing in one company over another.

[bertine.livejournal.com]

I usually only look at the quarterly statements because I have 33 years until I retire SO IT DOESN'T MATTER but it was just one of those "I wonder how bad it really is?" moments.

I lost today more than I spent on my trip to Korea.

[bertine.livejournal.com]

Yeah, I just wanted to see how bad it was.

I agree with "YIKES"

[ex-ciannait.livejournal.com]

Also? You're doing better than most with an IRA *and* a 401(k). I only have the latter, but I'm socking away about $15,000 a year in it. Or whatever the federal max is. ;)

[bertine.livejournal.com]

My dad was really big on saving money from retirement so I have been saving since I was 21 and was eligible for a 401k. I tend to see money as security so I am pretty good at saving it.

[bertine.livejournal.com]

PS, that just means I have more to lose. :P

[ex-ciannait.livejournal.com]

You're gonna be set for life with an outlook like that. I wish I had someone like your dad, it took me till I was married for me to really get serious about it. I used to pillage my 401k all the time, now it's sacrosanct. ;)

[ex-ciannait.livejournal.com]

Financial loss is a relative thing. If someone has nothing, and someone has lost 10% on the market of what they had, obvy the latter is doing better right? So chin up, you're still going in the right direction.

[bertine.livejournal.com]

My dad is pretty cool. He would make us figure out the compound interest of our money when we started jobs. When my siblings went into the Army he made sure each of them set up a RothIRA and had automatic payments put in the Max amount a year into it so all three of them had a good chunk of money invested by time they were 21.

Also both my parents were really open about money. We practiced math by helping balance their checkbook.

[bertine.livejournal.com]

I am trying to think about it as a huge sale, right?

Dammit, I just realized my parents had to have lost a lot more! Good thing my dad has a pension when he retires in 6 years.

[ex-ciannait.livejournal.com]

That's what Rob Black says when stocks go down - they're on sale!

Hopefully the market will inch back up and help with those losses.

[scorpi084.livejournal.com]

Mine has less than $1000. They sent me a statement, and I was like "why did you even waste the paper?"

[theophania-79.livejournal.com]

yeah, today out of all days.....not a good idear to look. at least you have a 401k though!

[purplesquirrel.livejournal.com]

My YTD 403(b) is -14%. It had been hovering around -11% for the past few weeks.

[sterlingphoenix.livejournal.com]

I tried looking at mine online once, and it was such a hassle that I figured, screw it, I'll just get the quarterlies.

I'm kinda happy about that right now.

[mesawyou.livejournal.com]

You got both an IRA and a 401k. AND you own a condo?

you ARE the American Dream, Bertine!