Can someone please explain retirement investing to me? Because my reality is not anything like I was ever told. First, I was told you sock money away in a fund, managed by really smart people with a big name company, and forget it is there. Then, after a few years, when you look at the results you will be shocked and amazed at how much your money has grown.
Well, I have been shocked and amazed all right. I have been at my current job for almost 4 years. This is the first time in my life I have worked for a big company with lots of benefits, including 401k. I have invested the maximum allowable since I was hired. And, since I was hired, today, I would have thousands of dollars more for retirement had I stuck it in a shoebox under my bed.
When the stock market crashed a year or so ago, I lost thousands, and I was continuing to hemorage. My friends I spoke to all had an attitude of "well, I made money for years, so even with all of my recent losses, over time, I'm still way ahead of the game." Well, la de da for them. Unfortunately I didn't start investing until about the time George Bush became president and I *never* realized any gains ever. Now, I would think that fund managers who make more money than me could figure out how not to *lose* my money.
I had the false impression that with really smart fund managers the worst case scenario was slow growth. Not dramatic plunges in net worth. So, before the hemoraging became any more brutal, I put my money in a bond fund, because I was told it was the most safe place to park your money short of a money market account. So, I did that and at least the bleeding stopped. For a year, I didn't make any money but at least I didn't lose what I was putting in.
Just recently our company switched to Fidelity, and when that happened all of my 401k got transferred over and placed in a similar bond fund. I get my first statement and, lo and behold, I lose another three grand!??!! Once again, I thought my money was safe in bonds, and it gets sent to the paper shredder.
So, I transferred my funds to a conservative retirement fund, highly recommended, that is supposed to assume I am going to retire in just 10 years. Now, I realize I'm probably not supposed to be watching my money in a 401k on a daily basis...however... On a Friday pay period I will contribute a thousand dollars to that fund. By *MONDAY* $400 of it is GONE?!! This has happened for the last several weeks.
I'm really, really, really, getting freaking sick of this. So much for growth, and savings for my ultimate retirement, I can't even find a fund manager that can keep from putting my money through a paper shredder week to week!??
I'm just sick of this.
Well, I have been shocked and amazed all right. I have been at my current job for almost 4 years. This is the first time in my life I have worked for a big company with lots of benefits, including 401k. I have invested the maximum allowable since I was hired. And, since I was hired, today, I would have thousands of dollars more for retirement had I stuck it in a shoebox under my bed.
When the stock market crashed a year or so ago, I lost thousands, and I was continuing to hemorage. My friends I spoke to all had an attitude of "well, I made money for years, so even with all of my recent losses, over time, I'm still way ahead of the game." Well, la de da for them. Unfortunately I didn't start investing until about the time George Bush became president and I *never* realized any gains ever. Now, I would think that fund managers who make more money than me could figure out how not to *lose* my money.
I had the false impression that with really smart fund managers the worst case scenario was slow growth. Not dramatic plunges in net worth. So, before the hemoraging became any more brutal, I put my money in a bond fund, because I was told it was the most safe place to park your money short of a money market account. So, I did that and at least the bleeding stopped. For a year, I didn't make any money but at least I didn't lose what I was putting in.
Just recently our company switched to Fidelity, and when that happened all of my 401k got transferred over and placed in a similar bond fund. I get my first statement and, lo and behold, I lose another three grand!??!! Once again, I thought my money was safe in bonds, and it gets sent to the paper shredder.
So, I transferred my funds to a conservative retirement fund, highly recommended, that is supposed to assume I am going to retire in just 10 years. Now, I realize I'm probably not supposed to be watching my money in a 401k on a daily basis...however... On a Friday pay period I will contribute a thousand dollars to that fund. By *MONDAY* $400 of it is GONE?!! This has happened for the last several weeks.
I'm really, really, really, getting freaking sick of this. So much for growth, and savings for my ultimate retirement, I can't even find a fund manager that can keep from putting my money through a paper shredder week to week!??
I'm just sick of this.
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