On Sat, 23 Jan 2010 17:24:05 -0700, Canuck57
wrote:

On 23/01/2010 10:41 AM, wrote:
On Fri, 22 Jan 2010 22:26:12 -0500, wrote:

oh please. have you looked at your 401K?

Blame the 401k manager, There was plenty of money to be made. Smart
money sold the market down and bought the hell out of the bottom.
There were plenty of "doubles" to be had in the last 2 years.

The reality is 401ks are a ripoff. The managers are more interested in
the fees you pay them than making you money ... and the tax man is
going to hold you down and screw you when you try to get that money
out.

No capital gains break on a 401k.

Agreed. Any 401K managed asset not fully recovered by December 31st,
fire them.

even in the good times, a 35% rise in a 401K was virtually
nonexistent. and, given the fact that most suffered a 35% drop, a
50% increase would be needed to recover the loss

and that never happened even in the good times. so, no. 401K's will
take a few years to recover. and that money, that time, can never
actualy be recovered

those are the mathematical facts


But I don't deal with them for this reason. I don't like the conditions
and poor returns. If I did, I want the fees linked to performance. I
don't even mind if I pay 5%, if I am making 15% consistantly. It is all
about the net growth in value. And on that basis alone, most mutuals
and managed funds are garbage.

And I hate paying people to lose my money. Makes me feel like a chump.

or a republican