News this week that inflation eased more than expected in October solidified the view that the Federal Reserve is done with its most aggressive rate-hike campaign in four decades.
And that could be a boon for the stock market and your 401(k).
News this week that inflation eased more than expected in October solidified the view that the Federal Reserve is done with its most aggressive rate-hike campaign in four decades.
And that could be a boon for the stock market and your 401(k).
I concur, especially if you have company match programs (like 5%) where you are basically guaranteed to double your savings FOR FREE.
Wife and I have 401Ks and rollover IRAs and even when the market wasn’t performing to expectations during this recession we only lost $1K total over the last quarter; and now that seems to be, maybe, bouncing back. Over the course of the 20+ years we’ve made something like 200% more* than just leaving it in an account. According to our financial advisor our retirement savings is better than most Americans. That’s pretty frightening since we still have 20 years to go, at the current economic growth, to be able to retire.
The stock market may be legalized gambling but if you have a financial advisor that makes money when you do (performance based pay) you are almost guaranteed to make a lot more money. And hey, if the stock market collapses we have a much bigger problems than how we’re going to retire.
*Thats literally off the top of my head. Do not grill me about how crappy or too good that % is. You’re wasting your time since this is just based on what I remember and how I feel about it. No, I can’t be arsed to figure the real data out.
Yup. A company match is literally free money for you.
The investment options in mine have consistently been losing value slightly since I started this job, but the total value has still significantly increased due to the company match.