>>>I’m not nearly as upset about my retirement fund losses as I am concerned for my children’s losses.<<<
Well, I figure that by my living frugally, they will have the balance in the estate - not that it would even come close to covering what the government is indebting them for.
>>>If their employer is contriburing to their fund, I usually advise them to hang in there and hope the funds will recover, but it is scary when their quarterly statements always show a loss even though monies are being continually deposited.<<<
If there is an employer match or addition, definitely!
Otherwise, they should check - They should be able to move it to a secure investment. But that won’t recoup their losses, only realizes them. Hard choice to make.
Also, if I advise them to no longer contribute to a company retirement fund, will they have the self discipline to save a like amount every payday on their own. Their inheritance was going to be what’s left of my Roth and our property with 2000 feet of river frontage. That looked good five years ago, but with the decimation of my retirement and the drop in property values, it’s troublesome to say the least.
Also, if I advise them to no longer contribute to a company retirement fund, will they have the self discipline to save a like amount every payday on their own. Their inheritance was going to be what’s left of my Roth and our property with 2000 feet of river frontage. That looked good five years ago, but with the decimation of my retirement and the drop in property values, it’s troublesome to say the least.