My wife’s 401(k) report just came in the mail today. She’ll be home in a few minutes to open it.
During the last period of time when she was allowed to make changes to it, she opted for “more risk” rather then “more safe”. This was mostly because she only has a few years till retirement, and we’re not talking about a great deal of money. The company she works for was bought last year by a company that doesn’t match any of her 401(k) investment. (the original company matched some of what she put in.)
It will be interesting to see what’s happened to her account in the intervening months.
She’ll be home in about 5 minutes. Arrrrggggggg!
The closer to retirement a person is, the less risk should be taken. Conventional wisdom says not to invest money you will need in 5 years. Given how this month has started off, September’s numbers won’t look too bad. Funny how September and October tend to be the worse months for the stock market and it sure is holding true this time around.