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Started By
Message
re: 401K
Posted on 1/31/22 at 7:57 pm to melkiper
Posted on 1/31/22 at 7:57 pm to melkiper
quote:
We’re both Hoping to retire in 6 more years
You would probably really benefit from a few hours with a fee-only, fiduciary financial advisor. It will be money very well spent if you don’t know this realm of life too well.
0
Posted on 1/31/22 at 8:42 pm to melkiper
quote:
So I finally got my 401k back up to 200,000k. In march of 2020 it fell to $30,000.
Posted on 1/31/22 at 10:22 pm to melkiper
I have no earthly idea what sort of extremely volatile investments you’ve been placed in. But no, you certainly shouldn’t be looking to take anything out. You simply need to rebalance, especially since you seem to want to retire in just a few years.
Posted on 1/31/22 at 10:25 pm to Larry Gooseman
quote:
Without knowing your situation I stopped contributing to 401k for a bit in 2009.
Care to guess difference between my balance and my wife who contributed the whole time?
She’ll forget your birthday before she’ll ever forget that. Garooonteed!
Posted on 2/1/22 at 7:00 am to melkiper
What in the flying frick were you investing it in to go from 200k to 30k
Posted on 2/1/22 at 7:11 am to Pelican fan99
Zom, WKHS, HMBL……
Never mind he would still be going lower
Never mind he would still be going lower
Posted on 2/1/22 at 12:01 pm to melkiper
quote:
got my 401k back up to 200,000k. In march of 2020 it fell to $30,000. I have it in a medium /high risk market
That's not medium/high risk if you dropped 80-85% of the value during the pandemic drop. That's lunacy risk for a retirement account.
That's gotta be all in triple leveraged stuff or something. Almost nothing dropped near that far during the start of the pandemic.
This post was edited on 2/1/22 at 12:02 pm
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