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Pastimes : CNBC -- critique.
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To: engineer who wrote (7655)4/4/2001 2:37:37 PM
From: Dave  Read Replies (1) of 17683
 
We have 401k where people are losing money by being locked into the plans which only allow for mutual fund investing and no provision for converting to cash

I didn't know this. But even if true, if you're limited to mutual fund investing, you don't have to keep your whole retirement balance in Joe Blow's Aggressive High-Risk Casino Fund, and if yours is, you should not be surprised if it is up 50% one year and down 50% the next. There are plenty of safer funds you can invest in. 30% of my IRA is in the Prudent Bear fund. This is up 50% in the last year or so. Another 20% of my IRA is in precious metals, and the remainder is in government-backed money funds.

Dave
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