Yesterday afternoon, I received my quarterly 401(k) statement. It said that I had contributed about $400 to it over the past three months and lost about $40 of that due to the market being what it is. I've had a 401 for about a year and a half. It feels good to finally be putting some money away for retirement. Course, who's to say that I'll still be here 30 years hence, but you gotta be prepared just in case. When I signed up for it, I was told I could invest my money in a number of different ways. I could go for a high-risk/high-return one, middle of the road, or super conservative. Guess which I chose?
I chose the ultra cautious (read: conservative) route. My returns wouldn't be as high as others, but neither would my losses. I've had to chuckle over the past year as others who took the more risky route are taking a bath. One can change their portfolio at any time, but most say they're just gonna ride out the market. Well, guess what, the economy is gonna be on the skids for quite some time and there's nothing that either Presidential candidate is gonna be able to do about it. Some are finally starting to think about adjusting their package (double ententre). They should. They'd be better off going to a casino or playing scratch games for the pitiful returns they're getting. This is one time in which it's really paying off for me to be conservative. :P