Posts Tagged ‘401k’


Cutting Back At Work

January 24, 2009

So, at work yesterday we were informed of the changes to our benefits.  They “suspended” our 401(k) match until such time we achieve “predictable profitablility.”  They also increased the cost of our insurance $5 every two weeks.

At least MY coverage did not change.  They cut back the coverage on our part-time employees a lot, though.

We also let go most of our seasonal employees, even though we usually keep a good half to three quarters of them.  So, hopefully these are not signs of us being in too dire of straights.


401k Me!

July 15, 2008

Finally.  Finally I am actively investing again.  When I switched jobs, I had to wait one year before I could start contributing to my 401k.  That one year has passed, and as of yesterday, I am putting money into the stock market.

Why am I so excited?  After all, the market is going down and people are running from financial stocks like rats from a sinking ship.  I love investing as the market is going down.  The market will come back up.  It will also go back down, eventually.  However, over the next 30+ years I have until I retire, there is a much better chance the market will continue to rise.  There will be downturns, but the upswings always go higher and higher.

So, I am buying on sale right now.  The last time I got access to a self-invested retirement fund, the tech bubble was popping, circa August 2001.  The Dow Jones had just hit 9000, and I jumped into the market.  After all, how much lower could it go?  Well, it ended up going a bit lower, but by the end of the year I had a 20% return with a 32% return the year after.  I’m hoping for a repeat performance this time around as well.

I am going to keep riding out the market and betting on the long-term, not short-term, success of the American economy