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In the year 2007, I put $4800 into my freshly minted retirement account.
How much do you think it was worth at the end of the year?
$4,799.78.
...D'OH!
That'll happen with investments, though.
To look at it positively, what happened is that in a wobbly market with a shitty dollar, they held the value rather than lost anything significant (it's not like a bank account which can only increase and is insured). I've only had the account six months, anyway. I'm just amused that it was twenty-two cents.
How much do you think it was worth at the end of the year?
$4,799.78.
...D'OH!
That'll happen with investments, though.
To look at it positively, what happened is that in a wobbly market with a shitty dollar, they held the value rather than lost anything significant (it's not like a bank account which can only increase and is insured). I've only had the account six months, anyway. I'm just amused that it was twenty-two cents.
no subject
Date: Jan. 10th, 2008 06:31 am (UTC)From:Not to sounds ignorant, but all my yankee friends have accounts (it seems) like yours, where it is the whim of the market dictating their future.
Where as in Canada, I have a retirement plan with a set interest rate, that will continue to grow at that rate, no matter what the market does.
no subject
Date: Jan. 10th, 2008 07:01 am (UTC)From:I've never heard of such a thing, so I'm going to guess no. Infinite growth can only result from infinite inflation anyway, can't it?