Current Events > Just checked my 401K, -13% year to date return. How depressing.

(+) Yeah! (+)

So, not only has my 401K balance gone down by 13% since January 1st, but the money itself is like 8% less valuable than it was due to inflation.

Man, what a double wammy.

It's so depressing. 401K used to be one leg of an equal three legged retirement plan, including pension and social security. Now it's all we got, and look at it.

Pensions, social security, and 401Ks are all jokes. Cryptocurrency is the only valid retirement strat.

I hope the stock market and crypto all go to zero.

unless you're planning on retiring like, right now it doesn't really affect you

IllegalAlien posted...

unless you're planning on retiring like, right now it doesn't really affect you

And unless youve stopped contributing, its actually an opportunity to buy at lower prices

IllegalAlien posted...

unless you're planning on retiring like, right now it doesn't really affect you

The Popo posted...

And unless youve stopped contributing, its actually an opportunity to buy at lower prices

I dont think these things are true for most people on a practical level, but they sound really good coming out of the talk radio station on Sunday. Make me want to pick up the phone and make an appointment. Im pretty worried about the stability of American standards of living. While he will likely be better off then your average guy, hes going to end up with a lot less than he planned on and so is most everybody across the board in all classes except the ruling class.

I'm still 30 years away from retirement so I try not to think about it too much, bc all that matters is how much I've got when it's time to pull it out.....but it's still depressing af getting non-stop emails from my bank saying "we're rebalancing your portfolio" bc they only do that when something completely shits the bed.

cp87 posted...

I dont think these things are true for most people on a practical level, but they sound really good coming out of the talk radio station on Sunday. Make me want to pick up the phone and make an appointment. Im pretty worried about the stability of American standards of living. While he will likely be better off then your average guy, hes going to end up with a lot less than he planned on and so is most everybody across the board in all classes except the ruling class.

im not convinced you understand how a 401k works, but okay

just checked mine, -0.53-1.56%

not good, but much better than yours

IllegalAlien posted...

im not convinced you understand how a 401k works, but okay

Well, thats true. I just think we are going to have to get a lot shittier before people need to have some grit generally speaking. And not just hardass grit. We are so complacent with getting ripped off. Sometime around the time the Internet came around workers just kind of became taken for granted. And we arent going to have nice stuff and things come soon. The average person shouldnt have to jump through hoops manipulating financial markets to be OK when they are old.

cp87 posted...

Well, thats true. I just think we are going to have to get a lot shittier before people need to have some grit generally speaking. And not just hardass grit. We are so complacent with getting ripped off. Sometime around the time the Internet came around workers just kind of became taken for granted.

Workers getting ripped off, being taken for granted, and under the control of a select group of wealthy/powerful people goes back way way further than the Internet age. Its basically the standard for human civilization.

cp87 posted...

The average person shouldnt have to jump through hoops manipulating financial markets to be OK when they are old.

It really doesnt involve jumping through hoops and manipulating markets - youre overthinking it. The concern for most people is to have any savings to invest in the first place.

cp87 posted...

Well, thats true. I just think we are going to have to get a lot shittier before people need to have some grit generally speaking. And not just hardass grit. We are so complacent with getting ripped off. Sometime around the time the Internet came around workers just kind of became taken for granted. And we arent going to have nice stuff and things come soon. The average person shouldnt have to jump through hoops manipulating financial markets to be OK when they are old.

I appreciate that you admit your lack of understanding, and i am sympathetic to the general point you're making

YTD I'm down 6.9% but overall still up 7.5% although my personal portfolio took a bigger hit I'm in to heavy on tech. Apple is the only thing keeping my portfolio up :/

No_U_L7 posted...

just checked mine, -0.53-1.56%

not good, but much better than yours

Mine is auto managed by fidelity for full disclosure. I've had skyrocketed gains in the past, like 25 percent, so I can't say they're terrible, but yeah its still bad.