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Anonymous
Anonymous asked in Business & FinancePersonal Finance · 2 months ago

Has anyone looked at their 401k?? ?

What in the world happened and why?? They took 20k from me WTH

11 Answers

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  • 2 months ago
    Favorite Answer

    i took yor 21k ....................................

    • did you take my money too you bastard!!!???

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  • 2 months ago

    Smartest thing I ever did was CLOSE mine about 25 years ago and I have not regretted it at all.. Smartest thing I ever did was close it.

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  • 2 months ago

    Nobody "took" anything from you.  Your investments simply depreciated.  The virus did it.  Well over 3 million people in the U.S. have lost their jobs due to the virus, manufacturing plants have shut down.  In most places, all that remains open are the "essentials".  That's what the virus has done to ALL of us.  You aren't alone.  Wish I had better news.  I also wish more people would wake up and take it seriously.  Instead, they are still out spreading it.

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  • 2 months ago

    yes, I have lost about 20% currently, but i'm not worried a bit, wether or not I will get it all back this year I don't know, but in the long run I will be just fine,

    In fact Im seriously thinking about putting a lot more into the stock market

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  • Erik
    Lv 7
    2 months ago

    No one "took" anything from you, you have exactly what you had before.  It's just worth much less now.

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  • Anonymous
    2 months ago

    The value of the stocks in your account dropped. Nobody took anything from you, that is just how it works. Wakeup.

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  • audrey
    Lv 7
    2 months ago

    Carona VIRUS stock market crash.

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  • Anonymous
    2 months ago

    Too late to do anything about it now* - all you can do is wait for the market to go back up.  I think we will recover most of what we've lost in a couple months . . . but will take a while to be back to where we were and go to the plus side.

    * - I'm a geezer and having to take my mandatory IRA distributions every year.  THEY LIED:  they said we would be in a lower tax bracket when retired - but 40 years ago they didn't say how big a chunk taxes would take of my savings (and my Social Security and pensions).  Anyway, I'm in mutual funds and the Dow was so high in December I talked to my broker and suggested that we put at least half of what I had into CDs or money funds to avoid an overdue correction.  He insisted I wait - that the best was yet to come.  GREAT:  at age 78 I probably won't be around to see all of the $350M I lost come back.

    • ...Show all comments
    • Name Withheld
      Lv 7
      2 months agoReport

      @ Raymond L :   I've always wondered why some say M is thousands and MM is millions - while other sources say just the opposite.  Just to see if I'm wrong, I just did an online search and indeed both are defined both ways.  Obviously, I mean thousands, not millions.

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  • Anonymous
    2 months ago

    Is that the drop in your account value?  Have you been asleep the last few weeks?  if it's something else, you will need to be a lot more explicit.

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  • Scott
    Lv 7
    2 months ago

    Nobody "took" 20k from you. If you watch the news you would know the coronavirus pandemic is causing instability in the stock market right now.

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