401k-Holding fast but..........

[MossRoad]

Losing it in less than a month is worse....

You have to be in it to win it.

 

[KennyG]

401K's are a rip off, anywhilst. The only one that consistently makes money is the person managing the 401K. The person putting the money into the 401K is last at the trough ....

Absolutely wrong. If you have a bad 401K, it's because your employer set it up wrong. In my 401K I have hundreds of choices of investment funds and many of them have management fees of a fraction of a percent.

 

[RickB]

Losing it in less than a month is worse....

You do not lose unless you sell.

 

[airbiscuit]

If you are over 72, you must sell to take Required Minimum Distribution.

 

[RickB]

If you are over 72, you must sell to take Required Minimum Distribution.

But not today. Time is on your side. You should have at least 2 years of RMDs in fixed income holdings.

 

[airbiscuit]

Yep, but this market is going to be down for a while.

 

[RickB]

All I can say is if you cannot stand the heat, get away from the flames. I survived 2008 then thrived. I am not going to lose sleep over this because unless the entire economy collapses I will be better off than having my cash in a mattress. And if it does collapse having it in a mattress will not be good enough either.

 

[airbiscuit]

I don't have any issues with my 401k. I was just noting that this market crash will have a negative impact on some.

 

[Jstpssng]

JMHO but how well we ride this out depends on how many people panic. We've survived tough times before, and we will do it again.

 

[MossRoad]

Couldn't resist, could ya.