I just got my quarterly statement and it made me depressed.

I am going to go talk to some financial adviser our company uses to make sure my allotments are okay... jdaoirjeaoirjewaoirjawerioweajofijawefwe


:(

good thing I am not retiring any time soon!

401K is a scam developed by financial advisors to keep them in business

I don't pay the guy

well it pretty sad when you lose money and they line their pockets at your expense

I work for the government. I have a 403(b). It's two numbers better, but nine letters worse.

Mine's doing ok...

I don't pay the guy

You pay him in any fees that are part of the administration of your account. When you go see him, if he suggests moving your allocation around, he'll probably get a cut of that too.

invest your money in gold. guaranteed profits and universal currency.

that asshole.

my company suggested an allocation, which I am assuming was pretty conservative... so in the past 12 months my performance is positive but in the past quarter it was not :(

I guess it's not like I'm losing money since I can just pretend that the money being lost is the money that the company contributed, right? that makes me feel better.

what is this crap. money is meant to be spent. when i get to 59 1/2 i'm just going to shoot myself in the head.

my company suggested an allocation, which I am assuming was pretty conservative... so in the past 12 months my performance is positive but in the past quarter it was not :(



holy shit you're young. check it in 20 years and then care.

I think gold is going to hit a ceiling in the near future. I mean how much more expensive can it get, really? I should have gone to work for a metal mining operation but I thought the market was too unstable and the industry is pretty quick to shut down operations when the prices fall. But now I work in the construction industry that is going to hell in CA so looks like I pick them well. The government should put more money into public works instead of the stupid economic stimulus checks... a lot of people are being laid off cause they don't have any work... but I'm sure they will enjoy the small token of the government's generosity


I dont know anything about anything to do with money so ignore me, my opinion is pointless.

what is this crap. money is meant to be spent. when i get to 59 1/2 i'm just going to shoot myself in the head.

HELLLLLLLLLLLLLLOOOOOOOOOOOOOOOOOOOOOOOOOO I am a complete tightwad

I guess it's not like I'm losing money since I can just pretend that the money being lost is the money that the company contributed, right? that makes me feel better.

with all due respect, that's really stupid thinking.

just be pissed and feel bad.

I dont want to waste my life feeling pissed and bad

Once I get all moved and settled I'll probably start my 401k back up...I've been meaning to do it for the longest time, but I have had set-back after set-back since December.

just concentrate all your pissed and bad toward your 401k

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panic and pull out of it because of one quarter's poor performance

actually the biggest scam a 401k has is that if you use one at a new company and leave a year later, you may not be able to take any of the funds with you. something like under $1000, they keep it. they keep it!

i don't have one, thanks for asking

panic and pull out of it because of one quarter's poor performance

actually the biggest scam a 401k has is that if you use one at a new company and leave a year later, you may not be able to take any of the funds with you. something like under $1000, they keep it. they keep it!

that's the fully vested part, right? I think I became fully vested after a year. Some companies are immediate though, eh?

I skipped it and put my money into my own savings account.

That said, I'm going back to school in the fall for my master's. I intend to be self employed instead of relying on promises in contracts. :[

Most all 401ks lost significant value in the last quarter - a recession is bad for investments.

First rule to investing: Don't panic because of a bad day and/or quarter. And, since you're young, you should have nearly zero percent bonds in your allocation.

Toughest "fun run" ever.

don't worry about money, bradey you know i got you covered

i got 10 bones in my pocket. booyah

you've only been working for a year and you've already got $401k? that's amazing.

you've only been working for a year and you've already got $401k? that's amazing.
I was eligible for 401k after 90 days at my job.

and lol@gold will hit a cieling. maybe when they stop minting money.

i'm not eligible until i've been here a full fiscal year. which means, even though i started in 2007, i can't do it until 2009.

yay.

i actually meant to make a joke about confusing the name 401k with $401,000, but i guess that wasn't clear

i lost 10% last quarter

Our 401ks have done better than our Roth's - we've lost both more than 20 percent in four months in those two accounts.

Ouch.

let's hear it for teh googul, teh visuh and teh appul!

up until 2-3 yrs ago i thought 401k meant 410,000 too like that was the amount the plan was built around or something

it's important that i log on netphoria and share these tidbits with you

oh. i was just making a joke

i actually meant to make a joke about confusing the name 401k with $401,000, but i guess that wasn't clear

it was clear.

i actually meant to make a joke about confusing the name 401k with $401,000, but i guess that wasn't clear
not your fault.

up until 2-3 yrs ago i thought 401k meant 410,000 too like that was the amount the plan was built around or something
<me too>

i lost 10% last quarter

exactly the same here. biggest lost i've ever had.

that's the fully vested part, right? I think I became fully vested after a year. Some companies are immediate though, eh?

It's bullshit though. They take advantage of turnover to essentially steal your money.

up until 2-3 yrs ago i thought 401k meant 410,000 too like that was the amount the plan was built around or something

that's because you don't usually go over retirement planning at Steak 'N Shake orientation

401(takhomasak)

tacomask