Comments on: Finally, I Set up a 401(k) Account

By: iheartchaoscom (I Heart Chaos)

iheartchaoscom (I Heart Chaos) — Sat, 27 Sep 2008 01:36:12 +0000

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By: Vote For NCN Over At FMF - Plus, A Stroll Through My Blogroll

Vote For NCN Over At FMF - Plus, A Stroll Through My Blogroll — Sat, 01 Mar 2008 16:51:59 +0000

[...] The Sun’s Financial Diary opened a 401(k) at work. [...]

By: LuxLivingFrugalis

LuxLivingFrugalis — Wed, 27 Feb 2008 18:34:45 +0000

We’ve had good luck w/our American Funds in Hubster’s 401-K account, so they aren’t horridly horrible ya know. I understand on the expense ratio, but it beats a snowball…but then again, he gets some matching funds which also helps.

Just wanted to say they don’t totally bite!

Good luck with your 401-K investments.

By: Sun

Sun — Wed, 27 Feb 2008 04:57:07 +0000

Phalgun: The 401(k) is definitely for long-term investment, therefore, short-term fluctuation, as you said, shouldn’t matter too much. However, given the drop of major indices in January, I do feel a little happy to start in February instead of January

Moneymonk: I lost half of my shirt from those Chinese stocks I bought lately So I am a little tight right now. But, yes, I am considering buying some shares. I guess I will have to take losses on some stocks to come up with the money needed.

By: Moneymonk

Moneymonk — Tue, 26 Feb 2008 22:20:09 +0000

I have T Rowe Price Growth stock as well. Do you plan on buying VISA ipo’s?

By: Phalgun

Phalgun — Tue, 26 Feb 2008 18:40:38 +0000

Congrats on setting up the 401(k). You really shouldn’t worry too much about short-term market volatility in this type of account. You are putting this money away for retirement which is most likely a long ways down the road of life. Each contribution you make is essentially dollar cost averaging your investments, every two weeks with your paycheck.

You are right about mutual funds having a hefty expense ratio. That can add up to a lot of money over the long term and eat away at your profits.