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Stopping the 401k bleeding. Long
Posted on 2/28/23 at 7:26 pm
Posted on 2/28/23 at 7:26 pm
I am not as educated as I should be here so hence this question. I am 60 yrs old. Currently not contributing due to my job being fairly new and being strapped financially because of a medical situation with my wife. Don’t have a ton in my 401 k but was hoping to keep what I have for retirement. Will be my only income with SS. I have lost 30% of my funds since Biden took office. Thought I had moved my elections into more stable options but apparently not. I will list where my funds are looking for some guidance. I am not looking to make money. Just stop the losses. 1-PHYQX(PGIM High Yield R6)(Down big). 2-PEOPX(BNYM S&P 500 Index. 3-FA Stable Value II(No gain or loss). 4-GIBIX(GUGHM TOT RIN BD IS)(Down big). 5-FBGKX(FID Blue Chip Gr k. 6-BPRAX(Blkrx Infl Protect A(Down a good bit). 7-JMGMX(JPM Mid cap Grth R6. Should I just move almost everything into the FA Stable Value II account for awhile? Thanks in advance.
11
Posted on 2/28/23 at 7:34 pm to JBM210
6 month T notes hit 5.14% today.
That’s guaranteed.
30% in that span is bad. Worst than most.
But it’s got little to do with Biden.
Can someone learn me on 401k allocation?
Why are you in so many funds? Is someone from the outside managing the account?
For your age, a combination of VTI and SCHD or VMY would be much better than -30%
That’s guaranteed.
30% in that span is bad. Worst than most.
But it’s got little to do with Biden.
Can someone learn me on 401k allocation?
Why are you in so many funds? Is someone from the outside managing the account?
For your age, a combination of VTI and SCHD or VMY would be much better than -30%
This post was edited on 2/28/23 at 7:50 pm
Posted on 2/28/23 at 7:42 pm to JBM210
Enjoy social security my friend.
Posted on 2/28/23 at 8:17 pm to JBM210
This doesn’t make much sense. Only your growth funds are anywhere close to 30% down. Unless you have the great majority of your funds in those two, you can’t possibly be down 30%.
You can’t hide under a rock. Pay an advisor for an hour of their time to just explain what you have and how to make changes in your allocation. Move some to the value side. Get out of junk bonds.
You can’t hide under a rock. Pay an advisor for an hour of their time to just explain what you have and how to make changes in your allocation. Move some to the value side. Get out of junk bonds.
Posted on 2/28/23 at 9:05 pm to UpstairsComputer
The S&P 500 index fund is good, the value & blue chip funds are good and the mid cap fund is ok..... don't sell any of those, they will come back . Your not dead yet. Don't panic, the Republicans are coming to save you. Since your not contributing new money there's nothing to really change. If you sell now, you lose so hang tight. When the storm ends try to transition / transfer into those 4 accounts....
This post was edited on 2/28/23 at 9:07 pm
Posted on 2/28/23 at 9:37 pm to bayoubengals88
quote:
6 month T notes hit 5.14% today.
That’s guaranteed.
I just bought $100 worth. Made an account tonight. The 4 week was mid 4's I think.
Posted on 2/28/23 at 9:43 pm to Billy Blanks
quote:
I just bought $100 worth
Congrats on the $5 bucks over the next half year.
Posted on 2/28/23 at 10:10 pm to skewbs
More like $2.50. The yields are annualized the 6 months is just maturity date.
Posted on 2/28/23 at 11:52 pm to JBM210
You lost 30%?
The S&P 500 is down only half that from its all time high.
You may be better off just sticking with an index fund.
The S&P 500 is down only half that from its all time high.
You may be better off just sticking with an index fund.
Posted on 3/1/23 at 6:26 am to geauxpurple
If he is in bond funds they have taken capital losses over the last year.
Posted on 3/1/23 at 7:57 am to Billy Blanks
quote:
I just bought $100 worth
Posted on 3/1/23 at 8:59 am to JBM210
I was down 30% last year, but my entire 401k was in high growth. I'm only 33 though so I don't really give a shite. Moved a good bit from FAGCX to OIERX and will let the rest ride. If you are that close to retirement you should have already moved your money to something more stable like money market or bond funds. You can't afford a 20-30% pull back. But at this point I'm not sure that it matters.
Posted on 3/1/23 at 9:23 am to JBM210
Remember that when you’re feeling maximum pain and want to pull out of the market is the time when you probably need to stay invested and keep acquiring. 2008 taught me this lesson hard.
This post was edited on 3/1/23 at 10:07 am
Posted on 3/1/23 at 12:00 pm to RJSambola
Yeah. The bond funds have been down too, but not close to 30%.
Posted on 3/1/23 at 12:18 pm to JBM210
quote:
Don’t have a ton in my 401 k but was hoping to keep what I have for retirement.
Sounds like your risk tolerance is at "zero" right now. Usually it is best to go to money market funds when that's the case until you can figure out the next step. The good news is money market funds are paying around 4.5% +/-.
Posted on 3/1/23 at 2:52 pm to JBM210
If you are still trying to time the market at 60, I hope your expenses are low enough to live on SS.
Posted on 3/1/23 at 7:46 pm to CajunTiger92
quote:
Sounds like your risk tolerance is at "zero" right now. Usually it is best to go to money market funds when that's the case until you can figure out the next step. The good news is money market funds are paying around 4.5% +/-.
Going to money market funds when your risk tolerance is zero after you’ve already lost 20-30% is why most people are woeful at making money in their 401ks.
Posted on 3/2/23 at 4:42 am to slackster
quote:
Going to money market funds when your risk tolerance is zero after you’ve already lost 20-30% is why most people are woeful at making money in their 401ks.
He’s 60 years old and will be retiring soon. If he was in his 30s it would be a different situation. In the short term, the risk to reward is not there in this market, IMO.
For the average investor, particularly at his age, the goal for this type of market is to not lose money. If It was clear that we were out of the woods on this bear market, I may have tried to change his mind on risk tolerance.
Posted on 3/2/23 at 6:23 am to CajunTiger92
quote:
For the average investor, particularly at his age, the goal for this type of market is to not lose money. If It was clear that we were out of the woods on this bear market, I may have tried to change his mind on risk tolerance.
Even so, the middle of a bear market is not a great time to make that determination. If you go to stable value now, you’re almost certainly not getting back into bonds or the market until the coast is clear, which means the market is probably higher by then.
Posted on 3/2/23 at 6:56 am to JBM210
The market will bounce back. I would avoid going to money market, unless you really want to guarantee no more losses.
Now is actually a time to start getting into bonds, but you rode them all the way down, so your options are limited.
Who picked these funds you listed? If it’s a financial advisor, fire them immediately.
Now is actually a time to start getting into bonds, but you rode them all the way down, so your options are limited.
Who picked these funds you listed? If it’s a financial advisor, fire them immediately.
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