My 401K Performance is Negative August 24, 2006
I’ve been contributing the maximum allowed for my retirement for the past 5 years, so my balance has gone up quite a bit. But recently, my personal rate of return for the period ending June 30, 2006 was: -4.12%. According to this CNNMoney article today, those who saved for their retirement from 1999 to 2005 have done well. Here are the average account balance in 2005 for the following age groups:
- 20s who have had accounts since 1999 was $24,169
- 30s, it increased to $50,930
- 40s it rose to $91,848
- 50s had an average account balance of $127,766
- 60s was $140,957.
Are you on track with your retirement fund? I hope I get out of the negative territory for the next quarter!
- Posted in : Retirement
- Author : Kyle
Comments»
Keep socking away the dollars!
When the market is down your dollars are buying more shares
You are also investing your money pre-tax, so you get to keep Uncle Sam’s hands off your $$ by sheltering it-Good Luck!!
Thanks Mike! I will keep contributing and hopefully someday it will be enough to allow me to enjoy life withouth the need to work.
[…] For the 2nd quarter 2006, I wrote that my 401k performance was negative. In the 3rd quarter 2006, I did better but not by much. At least it’s in the positive range. My personal rate of return for the period ending September 30, 2006 was: 3.54%. Hope you’re doing better than that. […]
[…] My 401K Performance is Negative I’ve been contributing the maximum allowed for my retirement for the past 5 years, so my balance has gone up quite a bit. But recently, my personal rate of return for the period ending June 30, 2006 was: -4.12%. According to this CNNMoney article today, those who saved for their retirement from 1999 [.] (more) […]