I am only 25 years old so my retirement account is only about 2 years old. I do have some cash in there but most of the account is full of money contributed by my company. However, the big losses do concern me because I am losing just like everyone else. The difference between me and the 65 year old man who was looking to retire this year? I have a ton of time for the market to bounce back and make some gains. Someone who was planning on retiring this year might e second guessing it after experiencing some significant losses. My hope is that they got good advice and as they got older they moved their money into investment engines that are far more conservative than the stock filled mutual finds. Some financial advisers say people who have diversified portfolios are not getting hit as hard as everyone else. I would really like to see their accounts!
Regardless, have you made any changes over the last week or month? I was on twitter and facebook and some some people's status stating "Rebalancing my 401k". Is that really the smart thing to do? I am mostly in funds that are largely international so I am getting hammered. My plan is just to leave it alone and let this situation fix itself. Am I a moron? What are you doing? I am calling all you CFA's out there! Spit some good advice to all of us, in return we will give you a virtual high five and a few nice words. Speak on it people!
Doc
Monday, October 6, 2008
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3 comments:
Doc,
If you have a solid investment plan and are well diversified, I'd let it ride.
-1MansMoney
...and add even more contributions if possible.
-1MansMoney
I am a bit older than you but am actually planning to reduce my 401K in the near term. Did some back of the envelope calcs on my blog and it is a better financial decision for the year ahead. I can do more with the cash saved than let it drop in value in my 401K
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