I made a big mistake today

people do not look at your 401k! I hadnt looked in aboout 5 months. I repeat DO NOT LOOK AT YOUR 401K!!!!

My pension is doing great.

Just so you know it’s not anyone fault!

Instead of showing your dollar amount, they should show you number of shares. That gives you more piece of mind and a reminder that one day, each of those shares will again be worth more.

-20% return for the year isn’t good? I only look when someone reminds me, so thanks bud! I just remind myself your current contributions are buying while on sale now. Sucks big time for those nearing or in retirement for sure though.

I look at mine once a year when we do an annual review with our money guru. I did get a “don’t jump off the ledge” email from him a few weeks ago.

BigWerm wrote:

I just remind myself your current contributions are buying while on sale now. Sucks big time for those nearing or in retirement for sure though.

This!

Bearcat89 wrote:

My pension is doing great.

What’s that invested in?

Heck, my losses are less than a million, so I should be ok.

Losses are not realized until you sell!

Time to buy, It will go up 20% after numnuts is out of office.

Are you cashing it in today??? If not it really doesn’t matter what its at right now. I know if I was anywhere near retirement I’d move all my 401K into something as safe as possible even if it was the lowest current return

yea the last time i got my annuity statement from the Union…it took a healthy dump!!!!

Yep, not a loss til you cash out. Sit tight, it will rebound and you are buying more with your dollar now at a lower price.
Think long term ( even though I “semi retired in June of 2021”)
Just stop looking at it

My house went up 12% in assessed value since January 1st…. My truck has gone up in resale value…. But in the end life goes on.

im not cashing out for a while and other than a little initial sticker shock i dont really care. I understand over the next 20 years it will ebb and flow. Just thought it would be an amusing Friday thread.

castle-rock-clown wrote:

My house went up 12% in assessed value since January 1st…. My truck has gone up in resale value…. But in the end life goes on.

Those will soon be in the same situation as the stock market…

If you really wanna go crazy calculate how 7-9% inflation is degrading your dollar on top of the market losses….

“Interest (and inflation) is up, and the stock markets down and you only get mugged if you go downtown…”

dam Putin.

I am able to see my old investment account online which it is now 100% the X’s. I’m extremely happy to see that she is down a bundle!!!

Down 20% seems about right since last Nov. So far… not as bad as 2009.

Eelpoutguy wrote:

I am able to see my old investment account online which it is now 100% the X’s. I’m extremely happy to see that she is down bundle!!!

LOL

I don’t even look at my retirement accounts regularly anymore because its too depressing. Luckily I don’t plan on retiring for another 20+ years so there’s no point in checking it all the time regardless.

My Grandfather always said “buy low Grant, it’ll come back up.”

Maybe down 20% but still up from 3 years ago. That’s what the market does. Goes up, goes down, then up, then down. Sometimes fast, sometimes slow.

A buddy retired last year and only complains to me when the market goes down. I retired 18 months ago and haven’t needed to take any money out of my investments or savings (its interest rate has doubled since the Fed started raising interest rates) and I think I’m living pretty good.
Now I have to figure out where I’m going to fish next week.

Back in the 2008 crash, an otherwise smart co-worker nowhere near retirement moved his investments to cash. I still wonder when he moved them back and how much growth he lost out on in the meantime.

I’ve been retired for a few years and fortunate both my wife and I have pensions, Social Security and IRA/401K investments. Our investments are all in mutual funds, split between stock funds, bond funds and money market funds. Every year I take profits out of the highest earners and re-invest it in the other funds, gradually diluting our risk exposure. I keep a 3-year cushion of our yearly needs in the money market so in times like this I don’t draw from the stock and bond funds. Right now, that cushion is down to 2-1/2 years or so, and I will probably have to draw more from it in the months to come. Meanwhile, we still have the same number of shares in the other funds as we did at the beginning of the year.

To follow up on Ron’s comment on the money market, my “savings” account also has a significant amount in it as a cushion. I think this is a good strategy for retirement especially since I retired at age 61. I’m living on my wife’s social security (I’m a widower) and a couple of pensions. It’ll be a few years yet before I reach full retirement age and then I’ll decide when to start drawing my social security.

I looked about 2 weeks ago. I’m no where near retirement, but it still hurt to see. -23% is a big percentage.

Gotta zoom out 20 years to see how this thing operates. Someone check back in in 2030 and we’ll all be in Vexus boats

I’m semi-retired and to see 2 of my accounts down farther than 20% is painful but I just hope that the recession will not be a 10 year recovery!

I’ve been expecting a correction but @ -24% and -29% on two different accounts that are aggressive I’m surprised they have gone that far! At least they are doing better than some of the stocks! Usually when the stock hits an all time low it will not ever get to stand up anymore!!

Our country is falling faster than a senile man down a flight of stairs or off a bicycle….