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Question about my 401k
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<blockquote data-quote="busywend" data-source="post: 202104" data-attributes="member: 391"><p>Jo, people have to evaluate for themselves what they can stand to lose. </p><p> </p><p>There are so many things to consider:</p><p> </p><p>years to retirement</p><p>diversification of your investments</p><p>level of stress while watching your balance change</p><p> </p><p>Everyone is different. </p><p>At 40, I am not stressing - many years to make up what is lost. </p><p>At 60 I would hope my investments would be such that they were secure and low risk so I would still not be stressing. </p><p>If I were 50, I would be in deep doodoo right now. Because I would be on the cusp of making some of my investments less risky and perhaps would have lost a ton in the last few weeks. </p><p> </p><p>There are people that have lost hundreds of thousands of their retirement with only a few short years to try to make that up. Will be forced to do some high risk things when they are at the age they should be in the low risk pool. And therefore, stand to lose even more. </p><p> </p><p>OK, of my soap box - I got out of control there for a minute. </p><p> </p><p>Anyway, I think you should keep contributing and in fact next year you should be putting in much more than you are. Especially if your employer matches it. How much do they match up to? 3%? 5%? If so, put in at least that much.</p></blockquote><p></p>
[QUOTE="busywend, post: 202104, member: 391"] Jo, people have to evaluate for themselves what they can stand to lose. There are so many things to consider: years to retirement diversification of your investments level of stress while watching your balance change Everyone is different. At 40, I am not stressing - many years to make up what is lost. At 60 I would hope my investments would be such that they were secure and low risk so I would still not be stressing. If I were 50, I would be in deep doodoo right now. Because I would be on the cusp of making some of my investments less risky and perhaps would have lost a ton in the last few weeks. There are people that have lost hundreds of thousands of their retirement with only a few short years to try to make that up. Will be forced to do some high risk things when they are at the age they should be in the low risk pool. And therefore, stand to lose even more. OK, of my soap box - I got out of control there for a minute. Anyway, I think you should keep contributing and in fact next year you should be putting in much more than you are. Especially if your employer matches it. How much do they match up to? 3%? 5%? If so, put in at least that much. [/QUOTE]
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Question about my 401k
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