Decreasing 401Ks
Posted By: LK on 2009-02-27
In Reply to: actually, I added it up. - exSpheris
Yes,my 401K has decreased by about 40%. How much it decreases depends on how it is invested, and the only way it can go to 0 is if the investments you have it in become totally worthless. This is pretty much impossible unless you had it invested in a single stock, which you can't do in the Spheris 401K plan (I was a Spheris employee up until July, and had a lot in the 401K, and I know what the investment options are). What you're describing doesn't make sense. Not trying to cause trouble, just curious about what you are saying, as it does not seem to be possible.
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401Ks and how they work
401Ks are investments, and become worthless only if the investments held within the 401Ks become worthless. You can invest your 401K money in fixed return funds (in which case nothing would have been lost over the last year), or you can invest in stock or bond funds,hoping for a greater long term gain. The stock market has lost approximately 40% over the last year, so that is why my 401K is down that much, as I had all of it in stock funds. The only way it goes to 0 is if the stock market totally collapses. Could that happen? Not likely, but if it does, we're all sunk, and money won't mean anything anymore. At that point, better have everything in gold bars and have a pantry full of food and plenty of guns in your house. In this horrible economy, I would advise those of you who don't understand how 401Ks work to get educated if you have one. The info is out there and easily available.
What it will get is ever decreasing wages. n/m
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work is decreasing because VR is replacing 10 MT's with 2 and India et al is taking 2 jobs out
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