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Posted: 5/2/2001 2:38:07 AM EDT
At the first of this year my company decided to change our 401k to another investment firm. So at the very begining of this year we sold all we had and bought into other funds. Now in the long term this isn't really a big deal but, we bought in on our new funds way overvalued. Now, they are several dollars low on each and only 3 out of the 8 I'm invested in have recovered to the level at which we purchased them. I just hate to start out this way with 11 yrs of investments losing so much value. Crying mode off.
Link Posted: 5/2/2001 5:23:25 AM EDT
I'd rather not talk about it. OUCH!!!!!!!
Link Posted: 5/2/2001 5:23:59 AM EDT
I lost about 15% of the value of my 401k portfolio in the first quarter of this year alone. Stick it out. 401k investments should be viewed from the long term perspective. You'll bounce back. Bud
Link Posted: 5/2/2001 5:37:07 PM EDT
My company decided to transfer all our 401K out of the company that had it to another one at the end of the year. As of right now, the funds from the old 401K are not in the new company and the new company has no idea when they will get it done. So much for the 2 months that they promised us back before Christmas. I guess my $ is somewhere in Limbo, or some president's wallet right now.
Link Posted: 5/2/2001 7:08:38 PM EDT
[Last Edit: 5/2/2001 7:08:45 PM EDT by Ramses]
Originally Posted By Bud: I lost about 15% of the value of my 401k portfolio in the first quarter of this year alone. Stick it out. 401k investments should be viewed from the long term perspective. You'll bounce back. Bud
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[red][b][size=4]Only 15%![/size=4][/b][/red] You lucky dog - I've got mine in 5 different types of funds to (supposedly) reduce the risk factor. I lost 26% in the first quarter of this year. I about had a heart attack when I read the statement! [:O] I called our rep. and told her that if it didn't bounce back soon, I was transferring it all into my checking account - at least it would earn me 2%, which is a hell of a lot better than they've done lately. My dad just retired last Oct. 31st. When his funds were finally transferred in January, his monthly draw was $200 less per month. I'd hate to have been one of the unlucky ones to have retired around January, and hit the big dip in the monthly draw. Could be worse, though. Gabbing with my boss about it one morning and he went on-line and showed my his account. He's lost about 2/3 of his funds in the last year. I told him it was time to find the fund manager(s) in a dark alley somewhere. [pistol]
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