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    weelee66's Avatar
    weelee66 Posts: 1, Reputation: 1
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    #1

    Apr 22, 2009, 01:18 PM
    what do I do with my 401K?
    My 401k was reduced to a current value of just under $700.00. (due to the resession)
    I have never contributed to this 401k, my employer set it up 3 years ago. The investment company states that my chances of reaching a decent retirement goal is now 5%. Do I just ignore my 401k? My work hours have been cut and I can't afford to put anything into it. What do I do ?
    ebaines's Avatar
    ebaines Posts: 12,131, Reputation: 1307
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    #2

    Apr 22, 2009, 01:51 PM

    I would leave it alone for now, and try and get to a point where you can start contributing something to the plan - maybe just 1% of your pay to start. If your employer makes a matching contribution it would be a shame to not take advantage of it.
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