Posted: 10/9/2008 11:39:35 PM EDT
| For a couple years now I have been contributing 100% of my 401k deductions to company stock. For the first 3 years my stock was really kicking ass but now I'm losing my ass due to the economy and it being an election year. I am trying to move or pull out my contributions completely but my company says that the funds are locked until I have worked there for 5 years since they match my contributions up to 8%. I have been there for 3 years so far but 2 more years isn't looking like a possibility since both candidates are talking of defense contractor cuts. For the record I work for GDLS (FOX, STRYKER, MRAP, ect...) I understand that I wont be able to touch their contributions but Is there anyway I can get my funds out or transferred or am I screwed. If I didn't explain this well enough please let me know so that I can clarify. |
Yeah, I know now that I shouldn't have put everything in one account but I set it up in a hurry and it's the first retirement account that I have ever had. I was being my typical 20 yr old self at the time and didn't need advice from anyone because I knew exactly what I was doing.  damn I'm good.
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Now that I have admitted to the error of my ways now I'm asking for some contribution help. Here are the options that I have for my investments. Let me know what you think would be the best plan of attack. Fixed Income Bond Index Balanced Large Cap Value S&P 500 Index Large Cap Growth Small Cap Index General Dynamics Stock All together they have to add up to 100% of contributions such as 25% in fixed, 50% in balanced, and 25% in small cap index. It can be any amount in each as long as the total of them all equals 100% |
... I'm no expert, in fact I have a meeting with my CFP Monday to review my elections
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UPDATE: I got a letter in the mail from my company a few days ago and they are going to let employees move investments that have been previously made into company stock into other investments.  I never thought that this would happen but looks like I'll be able to reallocate all of the past contributions that I have made into company stock and put them into less volatile accounts and possibly not continue to hemorrhage losses daily. |