# The "I Hate My 401(k)" Thread!
**URL:** https://boards.straightdope.com/t/the-i-hate-my-401-k-thread/87652
**Category:** In My Humble Opinion
**Created:** [October 16, 2001, 4:03am UTC](https://boards.straightdope.com/t/the-i-hate-my-401-k-thread/87652 "2001-10-16T04:03:24Z")
**Posts on this page:** 6
**Page:** 1
### Author:  [@panzermanpanzerman](https://boards.straightdope.com/u/panzermanpanzerman)
#### Post date: [October 16, 2001, 4:03am UTC](https://boards.straightdope.com/t/the-i-hate-my-401-k-thread/87652/1 "2001-10-16T04:03:24Z")
Anyone out there hate their 401(k)?
Do all your available funds suck? No index fund available? Wish your company offered pensions instead? Have any of you gotten burned by investing heavily in your employer’s stock, only to see the stock price collapse?
All they offer is some crappy annuity plan?
Please, ladies and gentlemen–post your gripes here!
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### Author:  [@False\_God](https://boards.straightdope.com/u/False_God)
#### Post date: [October 16, 2001, 1:45pm UTC](https://boards.straightdope.com/t/the-i-hate-my-401-k-thread/87652/2 "2001-10-16T13:45:49Z")
While the pain is fading, I can still recall my first employer’s approach to employee investing for retirement. I was fresh out of college and didn’t know, really, the difference between all the options. I knew what a 401(k) was, and what it was supposed to do, but when I asked at the interview, I was told “Oh, we don’t have one of those, we have a SEP-IRA.”
Well, it’s got IRA in it, must be the same thing, right?
Try a mandatory contribution of 12.5% of your pretax salary to be held in a private brokerage account. You can trade it, and since it’s a tax-free investment vehicle, you have more latitude in trading, but if you cash it out before you’re 55.5, you pay a 30% penalty. Granted, I made enough money trading that I can keep 50% in cash for the interest, but I can’t touch it if I need it.
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### Author:  [@CrankyAsAnOldMan](https://boards.straightdope.com/u/CrankyAsAnOldMan)
#### Post date: [October 16, 2001, 4:42pm UTC](https://boards.straightdope.com/t/the-i-hate-my-401-k-thread/87652/3 "2001-10-16T16:42:12Z")
Well, I probably can’t complain because I am the one who chose my fund family. I get to choose between TIAA-CREF or Fidelity (or I could do both, I think). Fidelity has every choice in the world; TIAA-CREF has very few (less than 10, I think) But I went with TIAA-CREF anyway because their fees are incredibly low and frankly, I didn’t want to slog through a million funds choices. There are things I don’t like about TIAA-CREF but it’s a fair tradeoff.
It’s hard to feel good about _any_ retirement fund these last two quarters, but I’m still far enough from retirement that it doesn’t matter for me in the long run.
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### Author:  [@Milossarian](https://boards.straightdope.com/u/Milossarian)
#### Post date: [October 16, 2001, 5:53pm UTC](https://boards.straightdope.com/t/the-i-hate-my-401-k-thread/87652/4 "2001-10-16T17:53:22Z")
I just got my quarterly statement today.
The phrase, “throwing cash into a fire” comes to mind.
😕:eek::(:mad:
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### Author:  [@Maeglin](https://boards.straightdope.com/u/Maeglin)
#### Post date: [October 16, 2001, 6:02pm UTC](https://boards.straightdope.com/t/the-i-hate-my-401-k-thread/87652/5 "2001-10-16T18:02:42Z")
I feel your pain. Our quarterly reports came in as well. The stables aren’t doing too badly, nor are the bonds.
But the growth funds? Hoo boy. Glad I only have 10% in those. Pissing in a black hole.
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### Author:  [@Mr.Blue\_Sky](https://boards.straightdope.com/u/Mr.Blue_Sky)
#### Post date: [October 16, 2001, 11:20pm UTC](https://boards.straightdope.com/t/the-i-hate-my-401-k-thread/87652/6 "2001-10-16T23:20:38Z")
Must be “quarterly report” day. I have lost almost exactly the amount of money I’ve put in this AND what my company has contributed. I’ve shuffled the percentages around several times and STILL lose money. The only way to get out of it and get my money is to quit or get fired.