The Dow and The Economy

[kimmy]

i just got really mad yesterday because i found out that my employer had almost all of my retirement money invested in aig. ouch. i have a 401k with nationwide, and the guy was like "you're young so at least you have a long time to rebuild what you've lost," i was like "yeah that really didn't make me feel a whole lot better, dude."

i wish i could just keep all my money and invest it the way i want to, seems like employers make pretty shitty investment decisions, but i guess when it's someone else working for that money they just don't really care.

 

[xxManBeaterxx]

Quote:

Originally Posted by kimmy i just got really mad yesterday because i found out that my employer had almost all of my retirement money invested in aig. ouch. i have a 401k with nationwide, and the guy was like "you're young so at least you have a long time to rebuild what you've lost," i was like "yeah that really didn't make me feel a whole lot better, dude." i wish i could just keep all my money and invest it the way i want to, seems like employers make pretty shitty investment decisions, but i guess when it's someone else working for that money they just don't really care.

goodluck with that

The only upside is that AIG was given 85 billion dollars by the government, so im sure they will be fine

 

[MAC_Whore]

Quote:

Originally Posted by kimmy i just got really mad yesterday because i found out that my employer had almost all of my retirement money invested in aig. ouch. i have a 401k with nationwide, and the guy was like "you're young so at least you have a long time to rebuild what you've lost," i was like "yeah that really didn't make me feel a whole lot better, dude." i wish i could just keep all my money and invest it the way i want to, seems like employers make pretty shitty investment decisions, but i guess when it's someone else working for that money they just don't really care.

That sucks! I am so sorry. Does your employer allow you to pick your own funds for your 401k? A lot of plans allow that. They allow you to diversify the types of investments (i.e. Real Estate, Tech, etc) and for you to pick according to your desired risk level (conservative v. aggressive). Look into that.

AIG = Ain't It Grotesque

 

[rbella]

I'm just ever so happy that my husband's life insurance policy is with AIG. I am also ever so happy that they have a big "headquarters" type building across the street from my apartment so that I can look out the window daily and bask in the glow of the insurance company my money helped to save.