Home Forums Hunting & Shooting Hunter's Campfire Have you saved as much as you've lost?

It was my 401k through work and I always manage it myself. My employer made a change and during that they changed my investment choices without my knowledge or consent. It's pretty common when they change large companies to just move everyone to a middle of the road fund at first and then let people reallocate after that. They can also try to map or move you to similar funds to what you where in with the last 401k company. We thought that's what they were doing since they told us to make sure we were where we wanted to be first. Then they just put us all in a mid risk fund and didn't tell us for about a month. They only moved 8 of us and 4 of us were in cash/money market so you would think they would have done the map thing but since that would have taken a few minutes they just dumped us all into the same fund. Then they didn't get us any login information or tell us when it happened so we were all back in for the ride down. If we go back to money market now we kick in the loss. They just tell us if we want are money back just leave it in the market and it will eventually come back. Kind of ruined our plan to jump out at almost 18k on the Dow and wait for a correction to the 15 k range to get back in. If we go back to money market now we will have done the exact opposite of what we wanted to do. Take a loss from 18k to 15 range and then jump out and miss the next possible run up. I had planned to keep it on the sidelines most of this year until the election direction is better formed, oil prices settle down, and we have a better feel for where the Feds going with rates.

I'm watching each drop wondering if I should have just jumped out yesterday. I'm approaching 5 digit losses already just because our new 401k company couldn't bother to map 8 guys they transferred. Meanwhile they tell me to leave it where they put it for me until it goes back to where it was because if I choose to take a loss and go back to where I had it its my fault. I think it's crap they switched it that dramatically without my consent and then never even told me they did it. I'm Not going to contribute any more than I need to to get a match anymore. Any extra I have will go to our Ira that I control not my employer.

Bb

Good idea

I was in a resort bar one day having a drink on vacation. A group of from overhearing parts of their conversations were 3 or 4 quite wealthy men. One of them was talking about his "investment team" visiting him trying to console him about his losses and how "It's a down year in the market". He said they showed up in a private limousine to his building, wore several thousand dollar suits, all had Rolex's, Breitlings on their wrists. Rings on half their fingers. He said if the market was that bad why didn't they show up in a cab they all split wearing rags. That gentleman is the day I realized to never trust a single person in "investing". 401k guy showed up at job I had to "Help us set up our retirements". Same thing. Brand new caddy, expensive suit. Rings. I also didn't notice any callouses on his hands from earning that stuff.