My Disappearing 401K
I'm going to quit looking at my 401K balance because lately it seems to keep shrinking. Needless to say, this is rather discouraging. I know I'm in this for the long haul, and historically, 401Ks have performed well, but still, it's hard to swallow right now.
Good luck with that JeanLorie.
By the way, I gather that it's an American retirement fund? I was just wondering if it's an investment in mutual funds, and is it the general performance of the stock market recently that's making it less attractive?
From what you've written, it sounds like your 401k is in a mutual fund. If you don't like the idea it is losing money, move the funds into the plan's money market account. The interest rate won't be high, but you won't see a deterioration in its value.
What is even more annoying is when you quit the job that provided the matching 401k. I have a tiny IRA rolled over from a job. I can't do much with it. It's just sitting there basically.
MHJ
Rep Points: 350
I guess if you leave your 401K to its own devices over the long haul then it will eventually grow and grow as the market improves.
