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Reply to "401k and the Dow hitting 20"
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[quote=Anonymous][quote=Anonymous][b]I am very financially naive[/b] so please don't flame me for asking this question. Hearing about the Dow hitting 20 makes me wonder about the following: In 2007 DH and I had 400k in a 401k. We withdrew it all and used it to make a bad investment. We have not built it back up and yes we had to pay huge taxes on the early withdrawal. My question is had we not done that and continued to contribute (about 50k per year) what would we have now and what would it be worth? I guess just a masochist for wanting to know as I regret this decision but there is nothing we can do about it now. Just wondering if any financial people out there could make a calculation??[/quote] True statement.[/quote]
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