Comments on: Why my W-2 Makes me Cry

By: Nicole

Nicole — Mon, 16 Feb 2009 07:10:00 +0000

Mely5862…
I used to check my 401k once per month online, but stopped when things got bad on the advice of some folks who know finance better than me. They’re right. I just freak out when I see the ups and downs. I know a lot of people who have contemplated decreasing their 401K contributions – like I have – during this time despite their better judgement. In creating this post I want to share with other financial newbies that I understand the frustration, and offer a place to dialogue about why it’s a bad idea.. or is it. I also want people to know that it’s OK to be frustrated and scared right now. There’s an emotional reaction that’s not addressed when financial gurus say “just don’t look at it,” and I think there’s some release in talking about those emotions. I’m not the only one feeling it, nor is the girl in the cube next to me. It’s important to talk about it. Or cry about it. Or freak out about it… whether you’re paying attention to your monthly statements or not.

By: GREENI$BLACK

GREENI$BLACK — Sun, 15 Feb 2009 05:21:00 +0000

That is exactly why most people say not to watch your 401K too closely!

Even though you lost money – look at it this way, your SHARES are not lost. They only went down is value. When (and it will happen eventually) the economy swings up again, you will own a lot of shares and you’ll even out again.

Remember you probably can’t touch the money for more than 30 years, so don’t beat yourself up too much! You’re doing the right thing in the long run

By: Mely5862

Mely5862 — Sat, 14 Feb 2009 00:36:00 +0000

After thinking about your post, I became mildly irritated. You have a blog read by tons of people and that has, I believe, been featured in articles and magazines. A finanical babe right?
Yet, computer savy as you are, you have not been following your 401K declines on the that company’s website? I check mine at least weekly and once it began to drop I decreased my contribution. Sure I lost alot and you may end up ahead of me when the market recovers but I knew what to expect on my W-2
Come on

By: Elizabeth

Elizabeth — Thu, 12 Feb 2009 18:18:00 +0000

I know. I’m not worried about it. Thanks for the comment, though.

By: Anonymous

Anonymous — Thu, 12 Feb 2009 02:56:00 +0000

Elizabeth,

The problem with selling is that it’ll go up, but you won’t be able to profit when it does.

By: I'm a heart warrior!

I'm a heart warrior! — Wed, 11 Feb 2009 18:22:00 +0000

I keep telling myself investments are being sold at a discount. =) In the market, if you choose correctly, you can really get more bang for your buck. You just have to be patient. It’s understandably frustrating!

By: Elizabeth

Elizabeth — Tue, 10 Feb 2009 15:07:00 +0000

I know how you feel. I opened a Roth less than a year ago and it’s already down 47%… moved the money to a more stable bond fund today to try to ride out the storm, but it hurts to see the loss. The good news is that what goes down must go up, even if it takes time. Hang in there!

By: Erin

Erin — Sun, 08 Feb 2009 19:16:00 +0000

Thanks for reminding me

Put $5,000 in my Roth and ended up a few dollars below last year’s ending balance. In the 3 years I’ve been contributing, it’s done nothing but go down. I just tell myself I would’ve lost the 5 grand whether or not I’d added more. And that I don’t get back the chance to contribute that money, but I have plenty of time to add more. I’m just going to put my head down and keep DCAing.

By: Anonymous

Anonymous — Sat, 07 Feb 2009 13:39:00 +0000

take heart. I’m in the same boat.

Jane

By: Anonymous

Anonymous — Sat, 07 Feb 2009 12:10:00 +0000

the thing is money man (7.16 am annoymous again) i want to retire early, or at least downsize – im 35 now and would like to achieve this within the next 5 years, i dont want to work for the man for the next 25 years – so i think stock market def not for me – i need my cash liquid or semi liquid – at moment have it in bonds – would these dividends you speak of help?