Financial crisis and 401k poll

[mlb1234]

Just curious how many people have altered their 401k/403B/IRAs during this financial crisis....

[Cherie762]

seen a commentary on 20/20  it was about how pessimism effects the economy...people are afraid to spend or invest ,,,,we gotta change ,,,not saying everyone go crazy spending but things need to get better and govermnet is responsible but we as consumers are a bit too I know many who panicked ( dont be insulted if ya did its your right and personal decision) and pulled all their money out ....I may be a eternal optomist ( Im not a good speller LOL) but I just know things will get better..this has happened through out history of USA we are not gonna fall like Rome..

[Tanker Chic]

Hey Lisa, I didn't vote because there wasn't one that exactly suited what I have done.  Since I work for the gov, it is in a TSP account instead of a 401K but it is basically the same thing.  I moved all the existing money I had into a very safe low interest earning account... basically like a money market account.  Luckily I did this a awhile before the bottom really fell out.  I lost some money but not as much as most of my coworkers/friends.  The new money that is taken out of my account, I continue to have it invested into the stock market.  I figure since it is down so low, this is the better time to buy.  So my old money is out and my new money goes in... that is basically how I'm handling it.  

[HelpinUtah]

I am the same as you both.  If I was older and closer to retirement, then I would change things up.  But, I'm hopeful things will turn around in time for my retirement!  

[PlateletGal]

I also haven't changed a thing. If I were near retirement age, then I might have done things differently.

I will probably start slowly adding money into the market again.

[AndiJ78]

We have left it the same. We are in a higher risk bracket anyway and while we lost 35% last year (big ouch!) we also know that we are picking up cheap stocks right now and once it rebounds, we will be in even better shape.

Besides, panic only serves to crush the economy further. If we were in a position where we were planning to retire in 5 years, we would approach this differently, but we are 30 years from retirement.

[dai3symae]

I have stopped putting money into my 403b but not because of the current economy.....I'm on sabbatical this year and still have 1 in college.  I'm going to increase my contribution when I go back to work next fall.

[PrettyKitty1]

I have increased the money I put into. I have it set up this way. They increase 1% every year. No big deal for me..