Mar 09 2009
Freaking Out about my 401K
After reviewing my quarterly balance on my 401K, I have to admit I am beginning to freak out!! In the beginning I didn’t get to concerned — after all I am more than 20 years away from even thinking about retirement so for me a downturn in the Dow is a good thing. But, after listening and reading to all of the economists as well as the financial advisers I was beginning to get a little bit concerned.
Then I received my statement….and suddenly I was VERY concerned. But is this a realistic concern? As I said before I have a long time period to be able to recover — so should I still be thanking my lucky stars for a yard sale or should I be praying that I don’t lose everything? My gut tells me to “buy, buy, buy” — but my head says “proceed with caution”.
What do you think — full speed ahead or slow down?
That is a tough decision. I just got my statement in the mail. I don’t have a whole lot invested. It took me a few years of working before I finally started my 403b (I’m a teacher.) I have lost 20% of my money. That is so depressing! I feel like any money that is going in now is being wasted.
However, I have faith that it will come back. I am leaving it alone.