Monday, September 22, 2008

I Couldn't Resist...I Peeked At My 401k

I wasn't going to look at my retirement fund. I didn't want to be depressed. But I just couldn't help it. It was around the $70k level 2 years ago when I got laid off from my job. I logged in to the website and the total was...$67k!

Wow, I thought, that barely went down at all. But then I looked closer. My new job has a retirement plan with Vanguard, just like my old job did. I didn't ask them to, but they now combine my 2 accounts in to one statement. Soooo, while my balance is $67k, that includes $4,000 that I have contributed from my new job. Bummer. Looking closer at the statement, my account was at its highest point 2 years ago at $73k. Now that account, without my new contributions is only worth $63k. I've lost $10k on paper. But I am still contributing and possibly buying in to some great mutual funds right now. I am sure things will turn around and when they do my little funds will soar.

6 comments:

Over the Cubicle Wall said...

I looked about a week ago myself. I had officially lost more than my contributions plus company match this year. Down about 19% in all.

Sharon Rose said...

Hi there-thanks for stopping by!! Yes, pension plans are such long term things, it is hard not to get down when confronted with figures like this! Don't worry though, you're in it for the long term my dear!

Sallie's Niece said...

That's why they tell you not to look! You've got plenty of time to go and while the paper value goes down the number of shares goes up. Don't worry about it for now.

change is a good thing said...

I know what you mean, I have been trying not to look, but sometimes I just can't help it. I've been trying to make myself feel better by saying that at least I am buying in at cheaper rates. Sometimes it works, other times, not so much! Oh well, at least it's a long time until I will need that money.

Daizy said...

Yes, I'm sure a lot will change in the next 25-30 years...hopefully for the better! At least I still have money to put in. That's one reason to keep my job that otherwise drives me crazy :)

Anonymous said...

You are taking this much more calmly than I. I can't remember how I felt during the last big clunk. I went to a stock group I belong to last night and they were all in cash and almost had me convinced to cash everything in. Then I went to Fidelity's web site, and Janus' web site and read the voices of calm and reason.