Arg.
Posted on January 11, 2008 7 Comments
Great. As if in response to the thoughts I posted earlier today, my 401K is down like $700.
Don’t worry, it will come back. I don’t need it for about 40 more years anyway.
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January 11th, 2008 @ 11:47 pm
I hate it when my 401(k) goes down. I’m trying to not look at it so often, but it’s hard not to want to track it and check it daily.
Yeah, it’s a good thing we don’t need the money for a few more decades!
January 12th, 2008 @ 4:07 pm
I always feel a tiny panic when I see my 401K has gone down. I have to remember that now is the time I should be buying more, because it will be 30-40 years before I get that money.
January 14th, 2008 @ 12:38 pm
Yeah, 401k’s fluctuate (unfortunately), but over the long run they are the right place to be! Still, I know it’s a challenge to try not to let the ups and downs of the market lead your mood up and down with them… there is no “magic 401k insurance” to send things inching upward every day, so I say we take a tip from that Ron Popeil dude (who sells those hokey ovens on late night TV) — “Set it… and forget it!”
Groan. : )
Jerry
http://www.leads4insurance.com
January 17th, 2008 @ 6:41 pm
Yeah, just wait until you have more in the account and it dumps $3,000 or more in a day.
(
You can’t day-trade and get out of volitile market conditions for short terms either.
Just keep buying more on the way down with each paycheck… dollar cost averaging.
January 17th, 2008 @ 11:36 pm
Take a different perspective on it. If you’re young (actually that would include anyone under 50), you want your 401(k) to go down every now and again. Your investment purchase is now cheaper. For all you “fashionistas” on this site, it’s like finding a pair of Jimmy Choo (sp?) shoes at 25% off (1 year ago I would’ve asked who’s Jimmy Choo). When the market is taking a beating, I try to increase my contributions (if only for a couple of months).
January 18th, 2008 @ 2:58 pm
Bobby I LOVE that thought!!!
January 19th, 2008 @ 6:55 am
this is why i am friends with bobby burns. he’s such a wise man. and yes, i am on your blog at 1 a.m. it’s too cold to do anything and i don’t have christina’s dance moves to entertain me right now!