Reply to Can't bring myself to check my 401K

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I was at mid $2million, thought I'd be at $3million in another 5 years.

I have a years salary sitting in cash, but so, so worried. I'm am going to lose my job and not be able to find another.

I haven't checked since last week. Will wait until Friday night, so if I lose a nights sleep at least it won't affect work.

Life was feeling pretty good. I've sacrificed and worked so hard for everything. I may not have been living in the rust belt but I'm a normal middle class person who just worked really, really hard.

I detest that man. [/quote]

Times like these in the market are how you make your money.

Market is on a 20% off sale. Keep buying. [/quote]

Oh the buy the dip BS. Because we all cashed out and are just waiting to reinvest. Because we all know this is the bottom?

And while I'm not the OP, you have no idea why she has $2M. I have more than I would have had because my parents died. Or maybe they just put away the max amount each year. Or maybe they didn't have kids. [/quote]

Absolutely buy the dip. The market will have another all time high - be in in 1 year, 5 years, etc.

As another poster said, the stocks you buy today will be the money you’ll be living off of in 30 years, even if you’re near retirement age.

And if you’re near retirement age, I suggest the bucket approach:

1) 2-3 years of expenses in cash and cash equivalents. 
2) 2-5 years of expenses in short - medium term bonds.
3) rest in stocks.

https://www.morningstar.com/portfolios/bucket-approach-building-retirement-portfolio[/quote]

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