Ask Experts Questions for FREE Help !
Ask
    help888's Avatar
    help888 Posts: 11, Reputation: 1
    New Member
    		  
    #1

    May 30, 2009, 01:55 PM
    401k,does still worth it?
    Well I hope someone cuold help me with my question,I'm losing fe in 401k I'm in my 30's and I want to cancel my 401k because I think is a waste of my money,with all economic crush does still worth it?
    ebaines's Avatar
    ebaines Posts: 12,131, Reputation: 1307
    Expert
    		  
    #2

    Jun 1, 2009, 12:37 PM

    My advice is to stay with the 401(k), and in fact if you can swing it increase your contributions. Yes, your account has probably lost value over the past year, but remember that you will "win" over the long term if you manage to buy low and sell high. This means investing when markets are down. At your age you will probably go through two or three market cycles where marks will be down and marks will be up. Stay with it, consistently invest especially when markets are down, and over the long haul you will come out a winner. The worst strategy would be to invest only when the market is up.
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

How much is a 1925 penny worth with one cent and a wheat on the back worth [ 3 Answers ]

How much is a one cent with a wheat on back is worth from 1925

401k loan and pulling momey out of a 401k to pay the loan off [ 2 Answers ]

I have just turned 591/2 and have a 5,000 dollar loan from my 401k... can I withdraw monies to pay this loan off... and how much will I be taxed if I do? Mickey Huddleston

401K or Roth 401K [ 3 Answers ]

Hai, I am an Indian, presently working for a USA company. I will be in US for next 2-3 years and then I will return back to my country. My employer gave the option to enroll for 401K plan or Roth 401k or a combination of both. And the employer matches my contribution at the rate of 50cents on a...

Self-worth - what do you do to take care of your self-worth? [ 21 Answers ]

I think we are all so great to take care of others, however how can we learn to take care of ourselves more? What things can one do to take care of their own self-worth, self-respect, etc.

High Net Worth and 401K Savings [ 1 Answers ]

If I have a net worth of seven figures (excluding IRAs, Home Ownership and 401K) does it still make sense to keep stashing away in the 401K?

View more questions Search