UnThreaded | Threaded | Whole Thread (7) | Ignore Thread Prev | Next
Author: VReinoso Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 76079  
Subject: Transforming my 401k from Wise to Foolish Date: 9/29/1998 12:09 PM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 0
My employer (like most) gave me very limited options on my 401k - all mutual funds managed by the Wise. With some reservation but not sure I had any other choice, I chose some funds and maxed my contribution.

The good news was I maxed the contributions, the bad news was that I had to turn it over to the Wise to manage -- the fund options included no index funds. Now as the year comes to a close, my employer is considering altering the plan to give us the option to self-manage our 401k.

As fate would have it, the Wise managers of the funds I selected have lost me about 10% of my contributions. The question is should I lock in the loss and transfer the remaining amount to the self-managed option which would allow me to invest these and future contributions Foolishly or do I leave it there until I recoup my losses (who knows when?!) before transferring it to the self-managed account? I have, of course, decided to funnel all future contributions to the self-managed option.

In Foolish principal, I know I must take a long term view, but should I do that as well with money already in the clutches of the Wise?
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (7) | Ignore Thread Prev | Next

Announcements

The Retire Early Home Page
Discussion on accelerating retirement day.
Pencils of Promise - Back to School Drive
"Pencils of Promise works with communities across the globe to build schools and create programs that provide education opportunities for children."
Post of the Day:
Berkshire Hathaway

IBM: Is Buffett Wrong, or Brilliant?
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement