How did your 401k lose more than gained. That would basically be fraud. Just doesn’t work that way. And you left out that you are technically disabled (adhd). I’m not saying shit ain’t fucked up, but this story seems an exaggeration.
I don’t know about the other stuff, but I had a job from late 2021 to early-mid 2023. By the time I left the job, the net contributions over about 18 months were $9,992.78, and the balance was $10,340.83.
From the 2nd through the 11th month, the balance was literally less than net contributions.
18 months is very short for a 401k. They usually say to start looking to move the money out of the volatile market and in to stable investments 5 to 10 years before you need it so that you can avoid short term down markets and maybe catch some high spikes.
How did it lose more than it gained? The loss in interest in investment plus the yearly management fee from the company my employer chose to manage the stupid thing is more than the gains during the good years? I’m no investment expert, all I know is that anytime it gains money it then loses all that shortly after. I’d be better off putting the money in a savings account except at least this way I get employer match.
And sure I have ADHD, but it’s not like I’m disabled and unable to work, I’m still working and going to school. You want to tell me that I shouldn’t be able to support myself working over 40 hours a week (and I am not working a minimum wage or “low skilled” job)
If they’ll let you take it and put it in your own 401k I’d suggest doing that. Choose a low-fee brokerage that doesn’t fuck with your investments to incur fees. That’s how they make their money, by taking yours. Choose index funds and let it ride, keep adding when you can, don’t mess with it.
How did your 401k lose more than gained. That would basically be fraud. Just doesn’t work that way. And you left out that you are technically disabled (adhd). I’m not saying shit ain’t fucked up, but this story seems an exaggeration.
Im also curious because over the past 10 years there have been several periods with really high returns.
I don’t know about the other stuff, but I had a job from late 2021 to early-mid 2023. By the time I left the job, the net contributions over about 18 months were $9,992.78, and the balance was $10,340.83.
From the 2nd through the 11th month, the balance was literally less than net contributions.
18 months is very short for a 401k. They usually say to start looking to move the money out of the volatile market and in to stable investments 5 to 10 years before you need it so that you can avoid short term down markets and maybe catch some high spikes.
How did it lose more than it gained? The loss in interest in investment plus the yearly management fee from the company my employer chose to manage the stupid thing is more than the gains during the good years? I’m no investment expert, all I know is that anytime it gains money it then loses all that shortly after. I’d be better off putting the money in a savings account except at least this way I get employer match. And sure I have ADHD, but it’s not like I’m disabled and unable to work, I’m still working and going to school. You want to tell me that I shouldn’t be able to support myself working over 40 hours a week (and I am not working a minimum wage or “low skilled” job)
If they’ll let you take it and put it in your own 401k I’d suggest doing that. Choose a low-fee brokerage that doesn’t fuck with your investments to incur fees. That’s how they make their money, by taking yours. Choose index funds and let it ride, keep adding when you can, don’t mess with it.