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Some good news. 401k's at an all time high!

Old 02-14-13, 08:44 AM
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Some good news. 401k's at an all time high!

I had noticed my 401k had a good 12 month period. Guess I wasn't alone. Good news, yes!

http://money.cnn.com/2013/02/14/reti...html?hpt=hp_t2


NEW YORK (CNNMoney)
401(k) balances reached record highs in 2012, as a strong stock market and increased contributions helped retirement savers continue to recover from recession losses.

I couldn't seem to easily copy/paste the whole article....sorry.

And while I'm not sure this technically belongs in politics, I'm sure discussion would turn political. But if a mod really wants to move it to Otter, I'm good with that.
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Old 02-14-13, 08:59 AM
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Re: Some good news. 401k's at an all time high!

Market's up. Good luck with that when the market inevitably tanks again.
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Old 02-14-13, 10:01 AM
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Re: Some good news. 401k's at an all time high!

Originally Posted by CRM114 View Post
Market's up. Good luck with that when the market inevitably tanks again.
It's cyclical. It'll tank again, no doubt, but not overnight. It's taken about 5 years to get this far.
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Old 02-14-13, 12:43 PM
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Re: Some good news. 401k's at an all time high!

The only thing most care about, of course, is how it's doing when you're retiring/taking money out. So unless you're retiring soon all this means is that this year's contributions buy less than last year's...
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Old 02-14-13, 12:48 PM
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Re: Some good news. 401k's at an all time high!

How is Europe doing?
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Old 02-14-13, 02:13 PM
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Re: Some good news. 401k's at an all time high!

Now, banks need to overextend and hand credit to any dummy with internet access and the ability to fill out a credit card form. Folks need to get back to buying shit they don't need with credit cards. Then we'll really be on the upswing.
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