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Good riddance, Summer

September 15, 2008

My retirement accounts balance the end of May: $27,839
My retirement account balance at the end of September 15th: $27,078

It’s too depressing. I’ve been putting somewhere around $1000 each month, and poof, it is vanished (plus it took another $900 along for the ride). An entire summer of saving, gone! I try hard not to be an emotional investor, but part of me feels like crying, or dying.

Say all you want about long term investing, how this is good for my future, how stocks are on sale, and the number of shares I own are going up. It still sucks emotionally. I’ve been inching towards $30k in retirement for the entire year.

I feel like I just can’t catch a break.

Equally depressing, my cash savings hasn’t even increased by $1000 since May. Summer of fun, I hate you. Good riddance, I’m glad you are over. Will fall be any better?

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11 Comments leave one →
  1. September 16, 2008 5:39 am

    -22% in my new employer 401k
    -19.6% in my old employers 401k
    -12% in my son’s 529 Account
    -32% in my personal stock portfolio

    I feel ya! It’s really hard to control the emotions sometimes. My most recent was dell when we dropped from $25 a share to $18 at last check 😦

  2. Stephanie permalink
    September 16, 2008 5:45 am

    I wouldn’t worry about your retirement account. Chances are you will easily hit $30k by the end of the year, even without additional contributions.

  3. September 16, 2008 8:54 am

    I’m not saying that I’m worried or making any moves with my money. I am just saying… it is incredibly frustrating to face these numbers!

  4. September 16, 2008 10:08 am

    I’ve been having this same problem, and I can’t even look at my 401K balance anymore because it’s too depressing. If do catch a glimpse of it, I get this urge to scale back my contributions and store everything in my mattress.

    Ignoring it is the only thing that works!

  5. September 16, 2008 10:13 am

    Ugh, ditto on the frustration. My portfolio is actually lower now than it was at the start of summer.

  6. September 16, 2008 10:00 pm

    I am about to start contributing to my company’s 401k… and it is both exciting/stressful with the current market situations.

    I just keep telling myself: long term!

  7. September 16, 2008 10:23 pm

    Well, this post got me thinking and I had to check my retirement fund to see what my losses looked like.

    June 1: $22191
    September 17: $21246

    Deposits: $1600

    Net Loss: (-)$2544

    I know it’s not much comfort, but we are all in the same position. Even worse, my company changed their plan and my funds were all switched over so I can’t even recover from those initial losses. Bah. Cheers to autumn.

  8. September 17, 2008 9:20 am

    It is really frustrating. I’m beginning to think more and more about bonds. Are they getting hit the same way?

  9. Stacey permalink
    September 17, 2008 12:41 pm

    It’s not pretty, but think of it this way: You’d be several thousand dollars further in the hole if you hadn’t continued contributing. And once the market eventually recovers, those extra shares you bought this summer should make up for losses now.

    It hurts, though! My net worth is taking a pounding as well.

  10. fitwallet permalink
    September 17, 2008 12:54 pm

    See, this is the good thing about only having $545.13 saved for retirement at age 27! I’ve only lost 50 bucks. Heh.

    Other than that…I’m still screwed.

  11. September 19, 2008 2:38 am

    I second paranoidasteroid’s approach. Ignorance is bliss when it comes to saving for retirement in times like these. Painful now, but it’ll definitely payoff in the long run.

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