Whether you call it the 401k, retirement fund or super most of us have an employer associated fund in which we have been saving money toward our retirement. Some people may have drawn from the fund (and as a result have been penalised for early withdrawal by having to pay up to 30%), yet others may have done nothing more that saving to it.

So what is the status of the fund? Have you checked to see the net worth?

I had a look at my fund and what did I realize – I was losing money. Yes you read correctly.

It seems that the investment portfolio was affected by the downturn in the economy and as a result instead of making money the fund was losing. In addition management fees were being deducted. Instead of growing I am faced with a shrinking balance.

And it’s not just me. Some people I now in other countries have reported similar situations. Let this be a lesson – pay attention to all you investments. Not only those you control, but also those controlled for you.

So have you checked the status of your 401k?

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Tags: money, retirement, saving
Filed under: Miscellaneous