Do you obsessively look at your 401K or do you just forget that it's there? ?

Question

I wish I could forget about it. Mine is on a downward spin.........ugh!

-2,112.81 since 1/1/08

-613.62 since 8/1/08

Answer 1

It may be losing money right now. But, since stocks are cheap right now. You are getting more for your money. When  the economy gets better. You'll be making even more money.

Answer 2

LOL now you made me wonder if I even have one anymore and I have to go look and everything.  They're taking all that stuff away from us anymore.... all of our benefits and I have no idea what we have left.  Hubby is the one with all the good benefits though anyway!

Answer 3

No

Answer 4

Uh-what?

Answer 5

i barely ever check mine, I figure its better not to with the current state of the market.  

Answer 6

I obsessively forget about it.

Answer 7

I check it twice a month...I dont really understand anything about it, so I dont bother with it unless am requesting a loan from it.

Answer 8

My wife's a Financial Advisor so I think about mine pretty regularly.  If yours is indeed in a "downward spin" it may be appropriate to look at what funds you've got it invested in.  Do some research online - Yahoo!Finance is a reasonable place to start.  If the funds or instruments are otherwise solid and it's just that their value has slipped, then don't fret.  They'll come back.  If anything it may be a good time to bump your 401k deduction *up*!  Yes, I said up.  Buy low, remember?

On the other hand, if your 401 funds have significant "Sell" ratings from several analysts then it may be time to look at an exit strategy.  Plan it well, though.  Selling just because the market is in a lull is what lots of panicy investors do.  Look at performance charts across 5 years - the market is generally down right now so even poorly performing funds may come back.

And - if you don't have a financial advisor, consider getting one.  It's helpful to have educated input.