The New “What did you do with your Z today” (with off topic replies) XXXV

Zoren 370

Hey guys has everyone has 401K?

I just lost 16.55%

Do you guys advise to pull out or stay and hope the market rebounds in years?

Is there a possibility that your 401K gets depleted to zero?

Any finance expert in here.

FPenvy

i refuse to even look at mine.

it'll just make me angry and violent that everything i;ve been working for has gone tits up because our gov't is shiiiiiiiit.

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Zoren 370

Ok but whats the most appropriate course of action?

Is there a possibility it would tank down to zero.

Dang I need my shot gun! Lol

bunk

Nope. The stimulus package is going to sustain the big corporations. I havent seen a 401k in over a decade so I cant remember, but can you see where your money is invested?

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FPenvy

unless we fall into mad max type territory i dont think anything will hit 0

the whole financial/economical stuff going on is just insane. its up down up down who knows. i've never been big into it and now i'm just like wtf.

i'm def not one to be an authority on it lol

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Rusty

If you didn't switch your 401k from stocks and bonds funds to a money market type of fund back in mid Feb. You as well stay where you're at now and ride it out. It will come back. But for how long that takes, is anyone's guess.

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bunk

There are "circuit breakers" built into the stock market. I dont know the exact numbers right now, but when the index drops a certain percentage in a defined amount of time, trading stops so that the traders can take a deep breath..lol I think those % levels changes depending on the health of the economy.

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FPenvy

i cant remember what all my stuff is in......i should look butttttttt i'll get angry lol

i've done so good past couple years. upped my contribution along with having my friend (financial adviser/manager) restructured my stuff. i guess my dumbass had my percentages just a bit off lol

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bunk

With the stimulus package being approved and the Administration announcing that they want to open the economy back up by Easter, you better buy now if you have the extra cash! The market is already creeping back up.

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Leingod

Just stay in at this point Zoren. I'll break this down as simple as possible.

Whatever you're vested in currently is down a ton of money. Why would you withdrawal your vested amount now when it's at its theoretical lowest point just to put it back in at a later time when things rebound and stocks go back up again? Youll start off with even less vested stock instead of just riding it out.

We have enough safeguards in place that the market will tank for a while and then begin to rebound eventually. Just ride it out and you'll be safe to retire at your planned age regardless.

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Zoren 370

I put my investment 401K to stocks should I switch to long term
Gov Bond index fund?

Leingod

And bunk is correct. If you have spare cash, now is a phenomenal time to invest in safe places. I bought a few different things last week. Yum brand food, Dave and busters, and apple since they all tanked relatively hard. D&B is probably the riskiest I vested in, but the others have only ways of going up.

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bunk

Apple MIGHT be risky since they manufacture in China. Itll depend on if the Govt puts sanctions/restrictions/regulations after this virus thing is all said and done.

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Leingod

And index is always a safe vestments in the long run. But that all depends on how interest rates are going. I think they're starting to climb. Idk the rates currently though.

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Zoren 370

Thanks man that made sense. I probably reallocate some of my 401k any suggestions to where it would be safer or less risky?