401k help!!!

IBM
Johnmcpoop

Go to company page IBM

Johnmcpoop
Jan 14, 2019 40 Comments

Hey so I’m 24 and just got my 401k statement looks like I’m down 15% for the year which sucks. I thought I was smart by haveing almost off my 401k in indexes of tech stocks. FML. So with the pending recession how should I recalibrate my 401k. My company uses fidelity if you have Names of funds that would help. Thanks

TC 121k

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TOP 40 Comments
  • Brightcove / Eng
    MqmO34

    Go to company page Brightcove Eng

    PRE
    Brightcove
    MqmO34
    Index funds are pretty much the best bet at the moment. Given you are 24 your time horizon is pretty far away.
    Chill and relax. It'll sort itself out.
    If you really want to you could talk to a certified financial planner who may be able to put together a more personalized plan.
    Jan 14, 2019 4
    • Intuit
      🧢🎒🕶

      Go to company page Intuit

      🧢🎒🕶
      A more personalized plan shouldn’t mean accepting decreased risk. OP is young and needs the stock exposure so their money can grow.
      Jan 14, 2019
    • New / Eng
      JCoM17

      New Eng

      BIO
      Structural engineer switching to data science.
      JCoM17
      Index funds are good only if you are buying the whole market not just a segment. Stick to sp500 or total stock market index funds. Every time the market drops you buy more stocks! Think of it as a sale;) You will probably sell this stock in 40 years so the SP500 will probably be 10-16x from now! If you want to look at a number look at how many stocks you own from the index fund.. and multiply it by 10-16x the current price. That ought to make you smile!
      Jan 14, 2019
  • At 24 just raise your contribution and then stop looking at it.
    Jan 14, 2019 6
    • Google / Eng
      poogers

      Go to company page Google Eng

      poogers
      S&P 500 is fine, yes, or else something like VTSAX if you want small cap exposure. Also consider allocating some to international markets; I put 30% in VTIAX. Some argue that the American markets provide enough international exposure but I don't really buy that argument.
      Jan 14, 2019
    • Wayfair / Other
      BusIntel10

      Go to company page Wayfair Other

      BusIntel10
      Play the recession and buy VXX
      Jan 14, 2019
  • Don't worry. Sit back and enjoy the roller coaster ride. It will eventually go up in the long term in 10-20 years
    Jan 14, 2019 1
  • Paychex
    CODE2040

    Go to company page Paychex

    CODE2040
    I still don’t know what is 401k tbh and I never registered for it. Now joining to Blind I hear everyone saying max it. I wish someone can explain what exactly is this.
    Jan 14, 2019 9
    • Paychex
      CODE2040

      Go to company page Paychex

      CODE2040
      Yes I’m serious. I came to the US and joined this company. I’ve no idea about what is 401k. I was told about it when ai first joined but since it’s for long term (59y) I was never told if I can transfer it when I go back home so I did’t do it yet and I won’t until I know the answer. And no I’m not from India.
      Jan 14, 2019
    • New
      DuQvV7x

      New

      DuQvV7x
      You don’t need to transfer the account anywhere at maturity.

      Many brokerages will wire funds anywhere in the world.

      Some even allow ATM access
      Jan 15, 2019
  • eBay
    iATK32

    Go to company page eBay

    iATK32
    Invest in 2060 target retirement if available or mimic its diversification. U can keep some percentage for u you to put in ur preferred long term "take" on the market, if needed. Most of the target retirement is invested in indexed stock/bonds (domestic/intl)
    Jan 14, 2019 0