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Home > Make that 6 weeks, and 401k growth

Make that 6 weeks, and 401k growth

January 13th, 2018 at 06:15 pm

I am enjoying watching our 401k's growth, but it also makes me nervous given historical trends showing what goes (quickly) up, eventually comes down (corrects). Is anyone else nervous, or am I just being paranoid?

The hub worked 28 hours straight yesterday. One of the mechanics who tag-teams with him fell last week and broke his hip, so they are short staffed. 28 hours is crazy- and it's schedules like this that create an environment for accidents.. The hub wants the hours, but not to this degree. The hub also will work 6 weeks this hitch, rather than 5. Not only will he make significantly more with this schedule, but having just me here, our budget drops as well for the month. The extra will go to debt and savings. With our 401k growth, my son paying me back this year and the hubs extra earnings, we are likely to hit my BHAG a good 18 months early- which means work for me becomes optional that much sooner. Smile

Z and my youngest granddaughter (9) are spending the night tonight. GD also invited her bestie to join us. Should be a fun night. X (age 2) really wants to come too, but he is sick and I do not want what he has...so he'll have to come next time.

With everything going on today, it may be tomorrow before I tackle the freezer inventory. Smile

Posted in general thoughts, BHAG, Grandkids | 4 Comments »

4 Responses to “Make that 6 weeks, and 401k growth ”

  1. rob62521 Says:
    January 13th, 2018 at 07:19 pm 1515871178
    1515871178

    Wow, 28 hours? Egad. Bet he came home more than exhausted.

  2. frugaltexan75 Says:
    January 13th, 2018 at 08:57 pm 1515877069
    1515877069

    That is a rough schedule. Yowsa!

    Have fun with grands!

  3. Dido Says:
    January 14th, 2018 at 08:25 pm 1515961523
    1515961523

    Most analysts expect a correction at some point rather than a full-blown recession.

    As you get close to retirement, it is helpful to begin to keep some investments in either cash or bond ladders to build a "cash bucket" that you could live off of in case of a real market downturn. Once you start drawing from your portfolio, "sequence of returns" risk matters and can influence your outcomes, and to shield yourself against the worry of it, it is helpful to build a bucket of 2 to 3 or even 5 years cash and short-term bonds. Markets may fall but they rise again and the risk is that you take the money out and then miss the gains once they come again.

    Have fun with the kids.

  4. Thrifty Ray Says:
    January 16th, 2018 at 07:30 pm 1516131054
    1516131054

    Rob26521- he will be on the slope for 5 weeks, so he sleeps in a camp up there...and is often woke up when something breaks down.... the joys of an onsite mechanic.. Smile
    Thanks Laura!

    Thank you Dido! This is really helpful for me!!

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