401(k) Woes
After today’s stock market closing (Google says the Dow Jones Industrial Average is at 8579.19, -678.91 points today, (-7.33% change in value) as of Oct 9 4:07pm ET), my 401(k) is now -36.7% YTD with a net market change of -$8,825.40.
The part that stinks the most for me, however, is that barely 2 and a half years ago, I was walking across the stage accepting my college diploma, having never seen $8,825.40 all at once, ever, in my life. My first paycheck after that (two weeks pay!) was for more money than I had ever made in a calender year.
This sucks. I am 25 years old. I would freak out if I dropped a $10 bill.
I was watching the SNL “Thursday Weekend Update” tonight, and the Keenan Thompson sketch where he plays an economic advisor who screams over and over to “FIX IT! FIX IT! FIX IT!” Is exactly how I felt. I feel sick to the stomach about this. I know its not much money, and I know I’m young and there is plenty of time, and I’m not supposed to touch this money for 40 years anyway. But I feel sick about this.
