Help, my 401(k) is a 101(k)!

Blogger reactions to the impact of the economy on their retirement accounts:

Seems contradictory that the same weekend I finally gathered enough courage to open up my 401K statement I also went on an online shopping spree. Based on the statement I should be conserving every penny I can, but :shrug:. Sometimes a gal’s just gotta shop!

Female, 40s, St. Louis, MO

I'm not sure how any costume could be scarier than today's economy. There's not enough fake blood in the world to frighten me more than watching my 401k shrivel to the size of a walnut.

Female, 40s, Ventura County, CA

Two weeks ago, I switched my 401K out of stocks and into a stable fund (basically a savings account) until the market stabilizes. I don't expect that until after Nov. 4 and maybe not until inauguration day. But if I see a glimmer of a stable bottom, I'm jumping back into stocks (since they can only go up). I should have gotten out sooner, but I'm an amateur at this stuff.

Male, 40s, Dallas, TX

It seems that the people around me care only about superficial things, such as clothes, gossip, their 401k, the thing that are bothering them in that moment, their grades (I'm a college student), etc. Can't anyone see past those stupid and simple things to see the important parts of life?

Male, 18-21

I want to believe in the power of smiles, hugs, a kind word, truth, justice, peace,dreams , the imagination, mankind, and making angels in the snow.
So....here's my checkbook and my car-keys, my credit card bills and my 401K statements. I am officially resigning from adulthood.

Female, 34, Midwest


Analysis: The majority of conversation about 401(k)s came from men and women in their 40s. This group, presumably, has 15-20 years until they can touch their retirement funds. For this reason, their dismay- and often fright- at the devaluation of their investments seemed to be trumped by the idea that the money would gain value again by the time they need it.

Want more analysis? Drop me a line at HeatherM@nicholasresearch.com

*Image courtesy of ABC News