How's Your 401K?

[Norbert]

I guess there is a silver lining in this mess. Like this person, we can piss off the trumpettes.

Link to tweet

[ProudMNDemocrat]

1. Good for you.....

Serves the Trumper right.

[LakeArenal]

2. 📉 ❌♨️👇🏻👎🏼🙀🥵🤬

[mr_lebowski]

5. So ... 'no bueno' is what you seem to be hinting at?

Sorry Lake ...

[LakeArenal]

7. My one and only stock has lost 11 points since yesterday

Three weeks ago it hit a 52 week high.

[mr_lebowski]

11. I don't know much about the market but I've often heard the term 'diversification' bandied about

My understanding is that it may have some usefulness in the scenario you describe.

I dunno maybe google it or something

[LakeArenal]

12. Well it will be back. It's fossil fuel that I inherited

I almost sold it three weeks ago.
Now I’ll stay the course.

[mr_lebowski]

15. Oh, in that case, sure ... OPEC honchos will cut production and prices will rise ...

You're good*

*Mr L is not a financial advisor, nor does he play one on DU. All accounts, descriptions and opinions emanating from his piehole regarding personal finances are best pointed at and laughed about over drinks.

[LakeArenal]

17. So I see we've had the same Finacial education

My operative word was “inherited”.

[A HERETIC I AM]

34. A disclaimer for the ages

[George II]

22. All I have is stock in Honeywell (their retirement plan included stock awards) from....

...about 25 years ago. Everything else is "cash".

Since Monday my Honeywell stock has gone down $25,000. I can't sell it because its in a retirement fund, I can just take out ~4% RMD each year. It's not a horrible situation, I put zero into it (other than hard work) and when I left the company it was only worth about $20,000.

[LakeArenal]

29. Good luck to us all

And not just with stock.

[enid602]

41. Honeywell

I too am a Honeywell survivor. I dumped the stock the day after Bush/Cheney invaded Iraq, and have been invested in non Dollar Bond (65%) and Equity (35%) Mutual Funds ever since. They did well in the last recession, and are up a whopping $1000 this week.

[George II]

43. If I sold mine I'd pay 50% tax penalty. I can only take out my "required minimum distribution"....

...since I'm over 70-1/2.

[enid602]

46. Ira

You can unload it in favor of any investment, as long as you don’t withdraw it from your ira. You’re only taxed on distributions.

[George II]

47. The tax on the distribution of the entire amount (if I sold it all) would be prohibitive....

....I'm just going to sit on it for now. Since this morning it's bounced back a little. Since I put zero into it in the first place, anything is better than nothing.

[enid602]

50. IRA?

Wasn't the 401(K) rolled over to an IRA (Individual Retirement Account) when you retired? If so, you can buy and sell with no tax ramifications.

[DFW]

3. I hope no one asks me.

I don't even know how to look it up!

[lame54]

4. What's his number?...

Let's all call him

[exboyfil]

6. You really want to get his goat

Tell him that the Trump stock market has now underperformed Obama's 2nd term to this point in their administrations. Obama was up 29% on the S&P500 at this point (Feb. 27), and Trump with today's losses is at 27%. This with increasing the deficit to gdp ratio from 3.2% to 4.6%.

That doesn't even include the increase that Obama achieved in the 1st term (85%).


So much winning.

[NRaleighLiberal]

8. it has coronavirus!

just preferring not to look ai it right now.

[unblock]

9. My 301k is hanging in there!

[SunSeeker]

25. LOL

[dumptrump1]

10. So. Should I not look at it?

[cbdo2007]

13. Mine's just fine...it is a long game, not a short game.

I'll let you know in 22 years when I look at it and see my 8% per year avg gains.

[AlexSFCA]

14. scared to look

[Skittles]

19. I think that is best

yes indeed

[mopinko]

16. i havent looked, but my stock broker called me this morning.

yeah, we had a long chat.

[Dagstead Bumwood]

26. Were you able to talk your broker

down off the ledge?

I haven't checked mine this week, and that's probably for the best.

[mopinko]

48. i actually had to talk to her about something else, but she called to say buy.

she is coming up w targets for good bargains. we are watching, trying to figure out how deep it will go.

[JudyM]

56. Curious: Did she mention any other suggested buys besides amazon?

[mopinko]

55. btw, the topic of the conversation was a black swan plan.

she actually called to tell me that amazon was down $300.
we always chat quite a bit, and i did have some concerns and plans i needed to talk to her about. when we started talking about what to buy, it was hard at first to get across to her the idea that i wanted to look really long shot bets. then she finally said the word black swan.
i really think the chance is real that this will be a meltdown.
my mom was a depression baby. in her family the ones who came through were the ones who had low debt, like me, and who had a little money as things went downhill to pick up some of the pieces. also like me. i own 3 properties that i got in bankruptcies.

so, yeah, workin on a plan, baby.

[Yo_Mama_Been_Loggin]

18. As of yesterday

I was down $50,000 for the week. Today's likely to be worse.

Pretty much have lost all I've gained while the dotard's been in office.

Guess he can't brag about the stock market anymore.

[BamaRefugee]

20. Mine's fine becuase last summer I went into all cash, no stocks, when you can't sleep at night

worrying about what the Orange Anal Wart is going to do to your retirement, you have to do something.
At age 68 and having already endured George Bush blowtorching my 401k, no way I was taking any chances.

I might go back in somewhat if things get really really low.

[sakabatou]

21. My friend is out $500 or so

[Shermann]

40. Your friend is no friend of mine

I'm down much more than that.

[sakabatou]

44. Well, he doesn't have much in the market anyway.

Most of his funds are saved in a bank.

[drray23]

23. Down about $60,000 or so.

Not worried. I'm not selling anything, it will go back up. As a matter of fact. I keep buying more stocks since they are lower now. I will start worrying about it when I'm 3 years to retirement and shift stuff into bonds or cash.

[tandem5]

24. I exited the markets a year and a half ago...

The stock market has skyrocketed as a madman failed businessman presides over a made-up trade war and cows the Fed into lowing interest rates (among a million other things) and the financial world looked past it all because they're making money? That's a complete and total disacknowledgment of reality just like the housing crisis. This was a bubble -- a truth bubble and I wanted no part of it. Talk to me again at Dow 18k support level.

[MissB]

28. We are out about 3 kitchens-worth or so.

Or whatever Dh eventually thinks we will spend on a kitchen.

Just an estimate. We aren’t looking. It doesn’t matter at this point.

[Brainfodder]

27. IF I had one, I'd be fine, it's more bloated than Windows 10?

[3Hotdogs]

30. All my assets are SS and N.J. state pension fund.

Saul Goodman.

[Johnny2X2X]

31. Down 4.5% YTD

That's quite a bit better than the markets because I have a pretty conservative 60-40 mix. Moved it from 80-20 to 60-40 in the last 18 months.

[Shermann]

45. Same mix as myself

I think I'll be down 9 - 10% or so this week.

[3Hotdogs]

32. Oh, and welcome to the Trump Slump.

[klook]

33. Not even looking.

I don’t need the dough for a few years, and making any moves right now would just realize losses.

[safeinOhio]

35. I'll be Fricking rich if I can get my new bumper sticker out

before they find a cure


How's That 409K
Looking Now?

[janterry]

36. very painful to watch

they are all good stocks and they will come back.

Eventually.

But I've 'lost' a lot these past few days.

[SunSeeker]

37. $12k (-3%YTD). Then I moved my entire 401k to bonds, and avoided Thursday's crash.

I'm retired and can't afford to just ride it out and wait for it to recover. Thank God I also have a pension, thanks to my union!

[paulkienitz]

38. I de-emphasized stocks in mine a while ago.

We've clearly been in bubble mode lately.

[jmbar2]

39. I'm not too worried about my stock values...

...as long as they don't start chopping the divvies. That's all I really care about.

[bucolic_frolic]

42. Let's hope so, QE drove overcapacity and skyhigh prices

It all has to correct sometime. The Fed is rumored to be injecting money in the market Sunday. But I think we're a few days away from a major crash. I mean 5-12,000 points. Corona can freeze business, and more than a few of these over-extended debt-laden business will have flirts with bankrupcty, margin calls are already coming (more on that in a minute), the whole financial implosion will affect housing prices, and consumer willingness to take on debt. Can you hear the purchases being cancelled as we speak? Cars, houses, furniture, vacations. Speaking of which, going on a cruise are you?

The reason I say margin calls are already happening is because I watch high dividend stock index ETFs, no bonds, and they dropped like a stone when the market opened down 600 points today. I bought in and they dropped another 2% or so when the Dow was down 1180. They recovered by the end of the day to about 1.25% down, and I did cash out and make lunch money, but these are funds you buy for retirement income. So why did they crash with the market? Someone's raising cash fast, and why sell a fat dividend ETF? Because you have to, either due to fear, or more likely, margin calls.

[GulfCoast66]

49. Don't know. Haven't checked. Still a decade from retirement.

So I will be fine.

The wife is much closer, but of course, she has been slowly divesting from stocks over the past decade so she will be fine as well.

[Drunken Irishman]

51. Lost $2,500 in a week.

[exboyfil]

52. Moved 15% from cash

To S&P 500 today. I was looking to rebalance some. Hope I won't regret it.

[sarcasmo]

53. My 409k is safe.

[doc03]

54. Since I am retired I no longer have a 401K I have an IRA. As of today

my IRA is down about 3.5%. I plan on converting some of it to a Roth this coming week. Hopefully
the market will bounce back and help cover the taxes on the conversion over time..