For the love of god don't look at your 401k

"If only EssExTee could be so grossly incandescent" (essextee)
03/16/2020 at 22:37 • Filed to: FINANCELOPNIK

Just don’t. Life is already stressful enough right now. I made the mistake of looking at mine and trust me you do not want to view your own.

DISCUSSION (30)

PowderHound > If only EssExTee could be so grossly incandescent
03/16/2020 at 22:51

Too late. I did it earlier on a whim and no ped out real quick.

someassemblyrequired > If only EssExTee could be so grossly incandescent
03/16/2020 at 22:52

Kinja'd!!!

If only EssExTee could be so grossly incandescent > PowderHound
03/16/2020 at 22:53

Mine lost almost a fifth of its value

If only EssExTee could be so grossly incandescent > someassemblyrequired
03/16/2020 at 22:54

That is what I should have put as a header image except I forgot about it.

someassemblyrequired > If only EssExTee could be so grossly incandescent
03/16/2020 at 22:57

Yep, FML, enough for a well specced new Boxster gone in a week.

Have been through worse, just pissed at myself for not buying puts.

Distraxi's idea of perfection is a Jagroen > If only EssExTee could be so grossly incandescent
03/16/2020 at 23:00

Totally irre leva nt unless you plan to retire in the next couple of years - I’ll lay decent odds it’ll be higher than it is now by 12 months after things die down.

Good time to be investing, if you’ve got cash lying around you don’t anticipate need ing as emergency reserve - plenty of businesses will go to the wall over this, but the GEs and Cokes of this world won’t be among them.

404 - User No Longer Available > If only EssExTee could be so grossly incandescent
03/16/2020 at 23:03

I kinda have to... need to rebalance my RRSP portfolios against the 5/25 rule. I’m in for the long run so no point to fret.

On the bright side the prime rate dropped a second time and I’m on a variable mortgage.

404 - User No Longer Available > If only EssExTee could be so grossly incandescent
03/16/2020 at 23:03

I kinda have to... need to rebalance my portfolio against the 5/25 rule. I’m in for the long run so no point to fret.

On the bright side the prime rate dropped a second time and I’m on a variable mortgage.

Eric @ opposite-lock.com > If only EssExTee could be so grossly incandescent
03/16/2020 at 23:03

I’ve lost so much money that it’s kind of ridiculous. I don’t want to say how much it was and I literally canceled my order to sell the night before it started going down. Now I’m committed, just have to ride it out and hope it comes back. At least I’m back to buying low again.

If only EssExTee could be so grossly incandescent > Distraxi's idea of perfection is a Jagroen
03/16/2020 at 23:07

What's "spare money"?

Distraxi's idea of perfection is a Jagroen > If only EssExTee could be so grossly incandescent
03/16/2020 at 23:22

The thing that distinguishes rich people f ro m the rest of us.

My wife works in financial services: most of her firm’s clients are the 1% of the 1%. She had one a while ago who left $50 million sitting in his check account for 2 years beca u se he couldn’t be bothered thinking w ha t to do with it.

fintail > If only EssExTee could be so grossly incandescent
03/16/2020 at 23:24

I haven’t looked, just imagining all of the cars and bikes I could have bought for what I lost in the past week - and I didn’t exactly have a 7 figure balance to start with.

camarov6rs > Distraxi's idea of perfection is a Jagroen
03/16/2020 at 23:26

And yet they wonder why the bottom half of the country wants single payer health care

If only EssExTee could be so grossly incandescent > Distraxi's idea of perfection is a Jagroen
03/16/2020 at 23:27

My grandpa was like third in command for an entire regional chain of banks. I don’t know exactly how much he made but upon retirement he literally wrote a check for a house in Florida. No mortgage, just paid for it outright.

I should probably call him more often.

Neil drives a beetle and a fancy beetle > If only EssExTee could be so grossly incandescent
03/16/2020 at 23:28

My wife works in the ER of our city’s safety net hospital which is getting crushed by testing and my kid’s school is closed for at least 3 weeks; you really think I’m sweating my 401k right now?

If only EssExTee could be so grossly incandescent > Neil drives a beetle and a fancy beetle
03/16/2020 at 23:29

That's why I'm warning you not to.

Distraxi's idea of perfection is a Jagroen > camarov6rs
03/16/2020 at 23:30

Literally nobody from any country which has universal healthcare understands why you guys insist on doing it the way you do.

ranwhenparked > If only EssExTee could be so grossly incandescent
03/16/2020 at 23:36

I’ ve got 35 years to retirement, not really bothered by it TBH. The Dow is still 15x higher than it was 35 years ago, who knows where it will be in 2055. These things tend to work themselves out in the long run.

Dr_Watson > 404 - User No Longer Available
03/16/2020 at 23:39

My student loans are happy about that as well.

Dr_Watson > If only EssExTee could be so grossly incandescent
03/16/2020 at 23:39

Thankfully the bleeding on my 401k hasn’t been too bad because I got paranoid over the volitility earlier in the year hedged 40% in the bond market.

If only EssExTee could be so grossly incandescent > Dr_Watson
03/16/2020 at 23:49

Yes. I understand those words.

Dr. Zoidberg - RIP Oppo > If only EssExTee could be so grossly incandescent
03/16/2020 at 23:54

Look in the ash tray of your car. The contents used to be able to buy several items at Jack N the Box, though today it could buy one stick of gum.

Just not 5-Gum.

fintail > Distraxi's idea of perfection is a Jagroen
03/16/2020 at 23:58

How such people are able to live without fear of torches/pitchforks/blades/gallows/mobs is amusing. Let them eat cake, n o doubt.

Longtime Lurker > If only EssExTee could be so grossly incandescent
03/17/2020 at 00:04

I checked my retirement accounts Saturday, lost 11%. Good news is I’m 35 to 40 years from retirement. Bad news is I was going to borrow from it under the Canadian home buyers plan, this year for a downpayment on a house.

Distraxi's idea of perfection is a Jagroen > fintail
03/17/2020 at 00:43

A lot of them don’t live without that fear. From what I know of my wife’s clients lives, being crazy rich isn’t all it’s cracked up to be. A heck of a lot better than living at the other end of the scale, granted, but give me “very comfortably well off” any day.

fintail > Distraxi's idea of perfection is a Jagroen
03/17/2020 at 00:55

I could live like a king on the interest from that 50MM invested at a very low risk.

No doubt many in that bracket are great philanthropists who will leave a valuable legacy, but many others, well.

SilentButNotReallyDeadly...killed by G/O Media > fintail
03/17/2020 at 01:47

New Zealand is more subtle than that...

Distraxi's idea of perfection is a Jagroen > fintail
03/17/2020 at 01:51

Even the philanthropists are not nice guys, I suspect: you don’t get to be that rich without doing some damage along the way. Bill Gates probably has a legitimate claim to have saved more lives than anyone in history through his foundation’s focus on third world diseases, but I wouldn’t want to stand between him and something he wanted.

fintail > Distraxi's idea of perfection is a Jagroen
03/17/2020 at 02:35

What gets me is how infrequently these guys run into hitmen :)

I assume for most of them, it’s a huge amount of lucky birth/inheritance, and they didn’t do much to “create” it at all. Gates is probably an anomaly, and he didn’t exactly start out on skid row, himself.

BigBlock440 > If only EssExTee could be so grossly incandescent
03/17/2020 at 07:53

Meh, the number it tells me it’s worth is still double what I actually put into it. It’s just a lower number than it was last month, but a higher number than it was last year.