A pension that technically isn’t a pension or a 401k…I assume this person is talking about their IRA. Weird fucking way to put it.
$200k is way too little to make an issue of at the scale of a pension. That sounds like an individual portfolio or this person prorated the losses to themselves.
If it is a pension like vehicle with multiple people, explain that the portfolio value going down doesn’t mean much unless it’s a realized loss or the loss is never recovered. Equities fluctuate all over the place during normal trading days.
If it’s an individual portfolio, which is what I expect, ask if those are actual realized losses or not. The comment about the coworker also losing is throwing me off though. I don’t think this person has any idea what they’re talking about, frankly.
Ok, I finally got to see them and ask for more details. Here's the breakdown:
"It's was a personal loss to my 401K, which is managed by a professional group. I regained it under Biden but now I've lost a significant amount in the past weeks. Awaiting my latest statement to see how bad.
I've told the organization that manages it to keep it at a mixed risk. Soon, I'll have to ask them to make it conservative so I don't lose everything.
My Amazon stock (20 shares) that I vested while working there are worth a third less.
Markets go up and down but not like this. I expect to have to work until I can't any longer due to health -- merely to survive.
People at the office in their upper 20s are also seeing losses. But they have more time to regain. I don't. And I don't have anyone to help support me.
I'm not the only one hurt. My friend is scared to death after losing more than I did. At least she has social security."
A pension that technically isn’t a pension or a 401k…I assume this person is talking about their IRA. Weird fucking way to put it.
$200k is way too little to make an issue of at the scale of a pension. That sounds like an individual portfolio or this person prorated the losses to themselves.
If it is a pension like vehicle with multiple people, explain that the portfolio value going down doesn’t mean much unless it’s a realized loss or the loss is never recovered. Equities fluctuate all over the place during normal trading days.
If it’s an individual portfolio, which is what I expect, ask if those are actual realized losses or not. The comment about the coworker also losing is throwing me off though. I don’t think this person has any idea what they’re talking about, frankly.
Sometimes you have to let tards tard.
Ok, I finally got to see them and ask for more details. Here's the breakdown:
"It's was a personal loss to my 401K, which is managed by a professional group. I regained it under Biden but now I've lost a significant amount in the past weeks. Awaiting my latest statement to see how bad.
I've told the organization that manages it to keep it at a mixed risk. Soon, I'll have to ask them to make it conservative so I don't lose everything.
My Amazon stock (20 shares) that I vested while working there are worth a third less.
Markets go up and down but not like this. I expect to have to work until I can't any longer due to health -- merely to survive.
People at the office in their upper 20s are also seeing losses. But they have more time to regain. I don't. And I don't have anyone to help support me.
I'm not the only one hurt. My friend is scared to death after losing more than I did. At least she has social security."
{placeholder, asking tomorrow}