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The Water Cooler
General Discussion
401k contribution - Yay or Nay
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<blockquote data-quote="Hangfire" data-source="post: 3889548" data-attributes="member: 27673"><p>I took a pretty good hit on my 401K back in 08' but I still continued contribute every spare dime I had.</p><p></p><p>Figuring that if I didn't need it in my pocket to live on before I didn't need it now when I got a yearly raise I'd up my contribution, when I got a vehicle paid off I'd up my contribution, when I paid the house off I upped it again etc.</p><p></p><p>Knowing how my luck runs and not wanting to take another hit like I did in 08' so close to retiring six months before I retired I got a hold of the bank and told them to take everything out of medium risk and told them to put everything into low / almost zero risk......glad I did because about ten days prior to my last working day the market dropped and I would have taken a pretty good hit.</p></blockquote><p></p>
[QUOTE="Hangfire, post: 3889548, member: 27673"] I took a pretty good hit on my 401K back in 08' but I still continued contribute every spare dime I had. Figuring that if I didn't need it in my pocket to live on before I didn't need it now when I got a yearly raise I'd up my contribution, when I got a vehicle paid off I'd up my contribution, when I paid the house off I upped it again etc. Knowing how my luck runs and not wanting to take another hit like I did in 08' so close to retiring six months before I retired I got a hold of the bank and told them to take everything out of medium risk and told them to put everything into low / almost zero risk......glad I did because about ten days prior to my last working day the market dropped and I would have taken a pretty good hit. [/QUOTE]
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