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Question about my 401k
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<blockquote data-quote="gcvmom" data-source="post: 202049" data-attributes="member: 3444"><p>Well, I echo Shari's advice. Now is when your money that goes in will go the farthest, and when the market eventually turns around, you'll realize much bigger gains. It's definitely not a time to sell in my opinion. Right now, your losses are on paper. If you are 10 or more years away from retirement, I'd tell you to stay put and hang in there, especially if you are getting matching dollars (AKA FREE MONEY) from your employer. If retirement is coming sooner, then you might think about putting FUTURE monies into lower risk vehicles like a MM or bond fund. But I still wouldn't be selling anything right now -- you'll really get burned in my opinion. I am NOT a tax advisor, so take my advice for what it's worth.</p><p> </p><p>Just wanted to add, our household is feeling the mental pain over our investments as well. My husband's retirement account at work as dropped at least 25&#37; since the beginning of the year! OUCH! But the way I look at it, some of the funds his 401K money goes into each month are at their lowest in many years right now, so that means when he makes his monthly purchase, we are getting a GREAT deal on them. And I know that historically, bear markets do eventually turn around. The problem is how long it will take and whether an investor's nerves can stand it!</p></blockquote><p></p>
[QUOTE="gcvmom, post: 202049, member: 3444"] Well, I echo Shari's advice. Now is when your money that goes in will go the farthest, and when the market eventually turns around, you'll realize much bigger gains. It's definitely not a time to sell in my opinion. Right now, your losses are on paper. If you are 10 or more years away from retirement, I'd tell you to stay put and hang in there, especially if you are getting matching dollars (AKA FREE MONEY) from your employer. If retirement is coming sooner, then you might think about putting FUTURE monies into lower risk vehicles like a MM or bond fund. But I still wouldn't be selling anything right now -- you'll really get burned in my opinion. I am NOT a tax advisor, so take my advice for what it's worth. Just wanted to add, our household is feeling the mental pain over our investments as well. My husband's retirement account at work as dropped at least 25% since the beginning of the year! OUCH! But the way I look at it, some of the funds his 401K money goes into each month are at their lowest in many years right now, so that means when he makes his monthly purchase, we are getting a GREAT deal on them. And I know that historically, bear markets do eventually turn around. The problem is how long it will take and whether an investor's nerves can stand it! [/QUOTE]
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