| By Ken - Oct 30th, 2008 at 1:46 pm EDT |
| Also listed in: 1stProtestinTheStreet.Org | Blue Biz | Broom Brigade | CivicSatisfaction.org | Denver County | Operation Bird Dog- Colorado |
Paradox at TheLeftCoaster writes:
Surfing the net these days will garner financial advice from almost any site, folks are rightly worried sick in these troubled times and want to know the best practices for their money. The articles always say to keep investing in your 401k, no matter what. Yuck.
I rolled over my 401k funds this year and now I’m extremely sorry I did; it’s not that the value has been chopped by 35%, I don’t trust Wall St. or American business in any sense, and I don’t want my cash supporting Wall St. companies and institutions.
I, like most Americans, are stuck with this lousy 401k system, more and more companies are abandoning even any contributing matching funds. In theory I could get out, I don’t mind paying the taxes, but the IRS penalty is a killer. Still, I’m thinking about it.
What are your thoughts on retirement funding? I know that my latest statement shows about a 15 percent decline (I'm in a conservative option on my 401k).
Money market? Bonds? T-bills? Pork bellies?
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I am wondering if you can roll over what you do have left in the 401k into IRA accounts and treasury bills.
Here is an article from FinancialWeb that may help:
Link
And another article from API about T-bills:
Link
Peace,
Monica
This holds to the dollar cost averaging discipline I heard about back in 1990. As painful as it is for me to see the "wealth" of this account decline, I have some reassurance that patience will allow it to recover.
The same should be true for basic mutual fund investments. However, those who hold more complex investment schemes should seek out a trustworthy CFP.