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401K

July 22nd, 2006 at 11:45 pm

Our quarterly 401K statement came today. It was nowhere near what last quarter was, but I figured it wouldn't be. I figured we'd see a correction and we certainly did.

Beginning Balance: $35,802.11
Personal contribution: $678.19
Work contribution: $535.92
Market Loss: -$728.19
Other transactions: $133.42
Fees: -$43.71
Ending Balance: $36,377.74

So the balance of the account rose by $575.63, but that was not even as high as the amount we put in ourselves and barely over what work put in.

Still, year to date earnings are: $3425.95, and long term thinking is where we have to be with something like this.

Hopefully things will turn around soon. I like to at least break even rather than lose more than I put in.

Posted in Retirement | 3 Comments »

3 Responses to “401K”

  1. LittleGopher Says:
    July 23rd, 2006 at 01:55 am 1153619723
    1153619723

    I just checked my second quarter, and you're not alone! I too am having to keep in mind the year-to-date earnings, rather than the pathetic last quarter. May we have a stellar third quarter!

  2. Dido Says:
    July 23rd, 2006 at 02:26 am 1153621571
    1153621571

    Yes, I know it's discouraging to look at your balances when there are losses. You're right to keep the long-term thoughts in mind. There are studies that show that people who check their accounts more often are more likely to lose money than those who don't check often, because the more you check the more tempted you get to move money out when things don't look so good--and most of the big returns occur during a very short time span.

  3. Jane Says:
    July 23rd, 2006 at 01:42 pm 1153662174
    1153662174

    It can look discouraging on paper (mine does to me, too!) but remember that you aren't LOSING money unless you're selling - which is not what you are doing right now, you're in the "buying" phase. And buying when share prices are down (like right now) is all to your benefit. The dollars that you are contributing and your employer is matching are going farther right now in accumulating total shares, and when the markets go up again you'll reap big benefits hopefully. That's what I keep in mind when the dropping balance in our 401k plays havoc with my net worth!

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