I hear my 401k tumbling!
Depending on how old you are, it's a good thing (that is, if you're young). It means you'll be able to buy more shares because of cheaper stock prices. If you're near retirement then this is a concern.
Seriously:
How old?
If you're young @ 16?
If you're young @ 21?
If you're young @ 40?
Near retirement?
How near????
1 year?
5 years?
10 years?
TIA...
OH NO I don't wanna look... aaaauuugh! I just went through this at the beginning of the year. I was checking my 401K and it took a dive the first few days, then it went back up and I was happy again.. I'm afraid to look..
My advice? Don't. :bang:
Historically, you will make more in the stock market than anywhere else. You just have to go with the flow and not panic and sell! It is just a loss on paper. I still don't like all of my losses; and I should follow my investments a little closer than I do...However, I have more than I ever would have had had I stuck my money in a saving account at the bank.
Great advice. The stock market will come back. Here's an article I just found discussing what to do when the market's down.
http://www.cnn.com/2008/LIVING/personal/01/22/willis.what2do/index.html