| Company Changing 401k market fund |
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David Wayne
New Poster
Cash: $ 0.45
Posts: 2
Joined: 06 Feb 2007
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| Company Changing 401k market fund |
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Hi everyone, new here.
Could someone help me with a worry I have.
My employer Lear Corp 401k notified me today, saying that our 401k has changed our money market fund from Northern Trust Money Market Fund to Dodge & Cox Balanced Fund.
The problem I am having is I lost hundreds of dollars in Dodge & Cox the last two years and Northern Trust has always made slow progress but never lost money.
I would have lost a lot more if all my nest eggs was in one basket (Dodge & Cox). I am not an aggressive stock market player.
At this time all my money is sitting in Northern Trust and not loosing.
My way of thinking is since today Karl Icahn anounced he wants to buy Lear Corp, Could this be a stunt to cause great losses for everyone in the 401k.
Thats all that will happen if forced into Dodge & Cox, they are an aggressive stock, am I right?
All Lear employees together can expect to lose hundreds of thousands of dollars if slammed in Dodge & Cox. that is a sure thing.
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Tue Feb 06, 2007 1:38 am |
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oldguy
Senior Member
Cash: $ 751.85
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Joined: 21 May 2006
Location: arizona
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quote:
My way of thinking is since today Karl Icahn anounced he wants to buy Lear Corp, Could this be a stunt to cause great losses for everyone in the 401k.
Who would gain by causing great losses in the 401k? Conspiracy theories are nearly always wrong - and that kind of fear will cause you to make bad decisions.
You should be thanking your fund manager for getting you out of a savings account and into Dodge & Cox. I would think that you would be displeased with the 5% return when other 401ks got 16% last year?
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Tue Feb 06, 2007 8:48 pm |
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David Wayne
New Poster
Cash: $ 0.45
Posts: 2
Joined: 06 Feb 2007
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Thanks everyone, good information, I will leave my 401k up to the pro's at work.
A co-worker told me I should talk to my banker about transfering my 401k to their market, not that I know what that means, I wont bother them at this time.
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Wed Feb 07, 2007 1:33 am |
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