Anyone else’s 401k take a bloodbath this week?
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Just checked mine, not too bad. Down by bout $10K, nothing burger.
K2: you might not have a balanced enough portfolio, and/or, not knowledgeable enough about the way the markets work. Either which way, as I said in my earlier comment about this not being a measuring contest, stick to what you know, instead of making broad stroke assumptions.
If you think a 2% decrease is a “bloodbath” strongly recommend familiarizing yourself with historical market volatility and drawdowns. Based on historical volatility (best insight we got), a 10% drawdown is very common, 20% drawdown typical, and a 30+% drawdown rare but likely to happen at least a few times in your lifetime.
exactly - the sky is not falling. Historically --->March 16, 2020: -2,997 points (largest point drop). - 13%
March 12, 2020: -9.51% (percentage drop).
October 19, 1987: -22.6% (percentage drop).
October 15, 2008: -7.9%.
October 29, 1929: -11.7%
Yes. It happens. Just chill
Scared to look honestly. I know I should but ignorance is bliss
First time investing? Zoom out
It’s down less than 2% YTD
Yep!
I just started using 401k at my company about 4 years ago, I always assumed to not touch my 401k unless I wanna get hit with penalties before I am even in my 60’s.
Is there a way to withdraw from your 401k before you ten 60 without getting like a 1-10% penalty from the IRS?
You can also take a loan out against your 401K and you will be paying yourself back the interest. Several YouTube videos on how this math works and the criteria to get the loan and paying it back.
A week? Watching it week to week is unwise. Also be grateful that you have a 401(k). I’ve been laid off for almost a year. Count your blessings.
All gains from a strong start of the year have been wiped out in the last few weeks on mine. With inflation and an incoming spike in gas and potentially commodity prices- I would expect that it gets worse as consumer sentiment also continues to cool and job creation continues to decline.