anyone who has a 401K plan, DON'T LOOK AT IT TODAY!!!!!! i looked at mine & i am ready to crawl under a rock. to make matters worse i recently changed my job & was no fully vested so my company thats all their contributions back so i am seriously walking away with about $500. meanwhile i have put in over $4,000.
bkbaby4life
Posted:
Member since
Re: NWR- don't do it!!
how does that all work??? i just recently started putting a small percentage of my pay in my 401K (about 5 months ago). and i was recently laid off....... :( so i wanted to take my money out since i need it. is it not worth it? should i just leave it in there?
grrulz
Posted:
Member since
Re: NWR- don't do it!!
i know this whole economy drama is getting worse every day
T E R I
Posted:
Member since
Re: NWR- don't do it!!
I have been avoiding looking at mine, i will hold off for as long as possible. i really try not to check it that often to begin with anyway, so this gives me more reason to not look
stinenandy2010
Posted:
Member since
Re: NWR- don't do it!!
Posted by bkbaby4life
how does that all work??? i just recently started putting a small percentage of my pay in my 401K (about 5 months ago). and i was recently laid off....... :( so i wanted to take my money out since i need it. is it not worth it? should i just leave it in there?
if you are no longer with the company you had the 401k with IMMEDIATELY take your money out. You can open up a free fidelity IRA and rollover all the money. You have to roll it over into an IRA without being charged taxes. Its free and takes like 5mins. Just call them. God forbid that company goes under you loss all the money that was in that 401k.
Girls, as a financial analyst, I cannot stress this enough. Also, if your worried about losing money in your 401k right now bc of the economy, CHANGE your distributions to like bonds or deposits this way you won't loose money but you really won't make any either. Its really up to you.
RedsBride
Posted:
Member since
Re: NWR- don't do it!!
I haven't looked at mine in awhile and I don't even want to right now. I also have a money market that I don't wanna look at or touch right now. I know it's down but at some point (whenever that may be) it will go back up. I hoped to use it for paying off student loans but I think that's gonna have to wait.
JenBill61210
Posted:
Member since
Re: NWR- don't do it!!
omg funny you mentioned this. I logged into my 401k website yesterday and all i saw were negative numbers in stock changes... EEK!
kater08
Posted:
Member since
Re: NWR- don't do it!!
It *****...but we are young...so we have about 30-40 years before retirement!!!!
The market will go up...and down again...and hopefully back up right before we retire!!!!
bkbaby4life
Posted:
Member since
Re: NWR- don't do it!!
Posted by stinenandy2010
Posted by bkbaby4life
how does that all work??? i just recently started putting a small percentage of my pay in my 401K (about 5 months ago). and i was recently laid off....... :( so i wanted to take my money out since i need it. is it not worth it? should i just leave it in there?
if you are no longer with the company you had the 401k with IMMEDIATELY take your money out. You can open up a free fidelity IRA and rollover all the money. You have to roll it over into an IRA without being charged taxes. Its free and takes like 5mins. Just call them. God forbid that company goes under you loss all the money that was in that 401k.
Girls, as a financial analyst, I cannot stress this enough. Also, if your worried about losing money in your 401k right now bc of the economy, CHANGE your distributions to like bonds or deposits this way you won't loose money but you really won't make any either. Its really up to you.
THANK YOU! that was more help than what anyone at my company was telling me. i'll make sure to do that today.
FallBride2010
Posted:
Member since
Re: NWR- don't do it!!
I dont even know how to check mine!! But I'm not stressing too much. I'm so far from retirement...it will go back up eventually.
Espo22
Posted:
Member since
Re: NWR- don't do it!!
When DH checked a few weeks ago, there was $10k less . Now i know everybody is saying that you dont need it now, not like you're taking money out of there and it will grow again and get back to what it was. I hate when that is said bc there are some people who need that money in their 401k. We just got approved in September and we are also using dh's 401k as liquid assets, and we already did the paper work with the amount that was in there and now theres less so its very annoying since infact I got a package from the lawyer this week and i have to submit his 401k info. Now we're not using or taking any of the money out, but the mortgage company wants to see on paper what he has in his 401K
MIL told me last week that she had $30k less in her 401k
christine2010
Posted:
Member since
Re: NWR- don't do it!!
i may not need the money right now but it hurts because i worked hard to put that money into there.
however i did just find out that i wont be out as much as i thought because i am partially vested so on a more positive note that is good.
RitasEngaged
Posted:
Member since
Re: NWR- don't do it!! UPDATE
OMG I don't even want to know how much mine is. Good thing I only put in 2%
JoanneAndJustin
Posted:
Member since
Re: NWR- don't do it!! UPDATE
Wow... I looked.
Christine is right, if you're no longer with the company roll it over into an IRA. My IRA balance is pitiful, but I'm going to stick it out a week or two before I put it in bonds.
I also have the 401k at work... which I just INCREASED my contributions to, that's OK... I have that one pretty conservative for now.
I'm just going to see what the next week or so brings then I'm going to change some things.
All of my vendors have been in business for YEARS I hope this doesn't affect the way they need to do business. I don't know if it's better to wait on the remaining vendors I have left or book them now to lock in 2008 prices.
