Got brave enough to look at my 401K today--I cried.

[TLB]

15 years of maximum contributions to my account and the balance is now 5% below what I contributed to date. From January, the total loss of equity is 42%. I can't picture that ever coming back. I guess I'm speechless.

[wurm]

I haven't been able to bring myself to even look at mine. I believe it will get better. I may not live to see it, but I believe it will...and I'm going to keep telling myself that.

[mattkime]

don't look. were you hoping to cash out tomorrow? then you were very poorly invested if you lost 42% in the past year.

>>I can't picture that ever coming back. I guess I'm speechless.

but you couldn't imagine losing it either and that just happened. you can't predict the market but don't feel bad - the best on wall street can't either.

[hal]

and people keep saying, 'just stay the course... 10%/year on avg...'

even 10%/ year avg leaves plenty of room for a scenario like this...

that's really shiity! sorry...

[incognegro]

Makes me feel good that I don't have a 401K, and I'm 43.

I paid in nothing, and I'm at exactly the same balance as when I started.

[ztirffritz]

Mine has only dropped about 20% from its peak, but for quite a while the drop matched my contribution, so it is probably worse than that in reality.

[$tevie]

So now don't you wish that you had been allowed to invest your social security in Wall Street as well? :confused:

[TLB]

Not that I would ever expect to collect, but unfortunately, I am not eligible for social security, which makes this even more disheartening. (this is a state defined contribution pension plan, not a true 401K) I guess I should start moonlighting at McDonalds to get SS credits.

[Numo]

TLB - I'll bet there are many, many people feeling just as badly about their retirement accounts as you do (including me). Maybe things won't look so bleak in a month or two.

However, it seems to me that even someone with depleted savings is still better off than someone with none. Perhaps wealth is relative: if you are better off than your neighbors, you are wealthy.

[OWC Jamie]

My 401K went into an IRA (stock mutual funds) when I left employment at my last job.
Actually there were several and they all sucked eventually. Three years ago I put it all into "safe" CDs. (I was gonna get ulcers watchuing the swings) When I look at the pitiful return I sometimes wish Jimmy Carter was President again. :-)