Post #43,902
6/29/02 12:25:12 PM
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No, talk to your bank
see what other things you can "roll over" your money into. Like a CD, Money Market Fund, IRA etc. I had to do this because I no longer worked for the trolls^D^D^D^D^D^Dlawfirm I had to roll over the 401K and the Profit Sharing. I talked to my bank, and they got me a CD that was garenteed to pay off unlike the 401K. See what your bank or credit union can do for you. In the 401K, my money just shrank and shrank due to the economy.
I am free now, to choose my own destiny.
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Post #43,908
6/29/02 1:23:12 PM
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Sorry to disagree...
...but a matched 401k is better than any other investment..at least on the match.
Rolling over once you leave is another story...and again...most 401k programs have different investments depending ont he amount or risk the investor wants to take.
Mine has 5 options...and you can split the balance between them...and move the balances at any time.
You were born...and so you're free...so Happy Birthday! Laurie Anderson
[link|mailto:bepatient@aol.com|BePatient]
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Post #43,938
6/29/02 6:20:15 PM
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Just my luck I had the rat's *ss 401K program
the one garenteed to lose money when the economy tanks. No matched 401K either, not from the skinflints I used to work for. No fixed investments either, IIRC.
I am free now, to choose my own destiny.
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Post #43,985
6/30/02 3:02:46 AM
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Tax deferred
You still took about a 30% return off the top from tax benefits. That's going to undo a lot of market damage. Too, market losses are only realized when you cash out. Long term, prospects are that you'll see portfolio value climb over your principle. Even in the worst periods of stock performance, there are few ten year periods in which the overall trend wasn't up. You're likely going to be in the market for another three decades, plenty of time to recover.
--
Karsten M. Self [link|mailto:kmself@ix.netcom.com|kmself@ix.netcom.com]
[link|http://kmself.home.netcom.com/|[link|http://kmself.home.netcom.com/|http://kmself.home.netcom.com/]]
What part of "gestalt" don't you understand?
Keep software free. Oppose the CBDTPA. Kill S.2048 dead.
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Post #44,170
7/1/02 10:33:19 PM
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Thirty years is a long time
if I can recover from it, I'll be happy. If I cannot recover from my uninstallment and may have to get on disability, I am not sure how much I could save up for my retirment. So far things don't look good, and either my former employer is saying bad things about me (that I suffer from depression, and whatever else they are saying), or there is a different factor preventing me from even getting the simplist job. It feels like everyone is against me right now, jobwise, and I cannot get a break.
I am free now, to choose my own destiny.
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Post #43,910
6/29/02 2:26:09 PM
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My 401K allows fixed investments
Which is exactly where mine is sitting right now.
I really should put some of it into the stock market now that that has sunk closer to a maintainable level. (If you are investing over a 10 year+ horizon, the stock market is a wise investment. Over just a few years, however, volatility may make it look horrible. When I was staring at the nosebleed P/E ratios, there was no way in hell a couple of years ago that I was going to invest in stocks.)
Cheers,
Ben
"... I couldn't see how anyone could be educated by this self-propagating system in which people pass exams, teach others to pass exams, but nobody knows anything."
--Richard Feynman
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Post #44,538
7/5/02 8:45:22 AM
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Re: My 401K allows fixed investments
A flexible 401K plan is a Good Thing. Company I'm with is semi-flexible, in that they have certain pre-defined types of funds you can put money into - but it's good that one of them concentrates entirely upon government securities.
Famous last RPG quotes: "I'll just shoot this fireball down the dungeon passageway..."
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Post #44,598
7/6/02 7:35:14 AM
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Ditto
And government securities are a fixed-income investment.
Hey, I only said they allowed it, not that they gave me great choices in that category! :-)
Cheers,
Ben
"... I couldn't see how anyone could be educated by this self-propagating system in which people pass exams, teach others to pass exams, but nobody knows anything."
--Richard Feynman
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