Reader comments
Greg Kratz: Some readers keep the faith in their 401(k)s

rh | 7:30 a.m. March 18, 2009

I think I was wise when I had to have a 401k at my current place of employment. Instead of seeing it as a place to get rich I reguard it as a savings acount and took the safest way possible. I may not be getting rich, but I'm not losing my money either; because it is my money right from the start with no strings attached.

Risk | 8:21 a.m. March 18, 2009

We've forgotten that there's always been risk in the stock market. People who can't stand to see their 401k drift with the stock market should put their money in a funds that are "safe." Risk avoiders do stand to lose money because they panic and move their money out when the stock market tanks and move it back in when prices are high--thus selling low and buying high. . .a perfect recipe for losing money. Actually, now is the time to buy while prices are low. . .because the stock market will be back!

Ignorance | 9:00 a.m. March 18, 2009

isn't exactly bliss, but since it's all we've got...

We're just leaving ours where it is, hoping that we'll be buying low while it's down, and that by the time we retire 20-25 years from now it will have time to recover. Plus, we have 50% matching from my husband's employer, so no matter what we make some money just by contributing. They changed providers in Jan. 2007, so I got out of all the worst funds I'd picked then, and put them in ones that were at least not losing money, and had good history... the current mix isn't doing well, but it could be worse.

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Earl | 3:05 p.m. March 18, 2009

@Risk 8:21: you don't work for CNBC, do you? Do you have any idea how often people have said to "buy now while prices are low" recently? Low compared to what? Certainly not as low as they're going to get! I saw this recession coming, so I played it "safe." I've been getting about 3-4% annual return in my 401k, which is below the inflation level, so I'm still losing money. But I think I'm better off than people who think they're buying low. Good luck with that!

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