i was thinking about just pulling mine out before it got any worse...but like said before it will be going back up

 

how can you lose everything on 401k? usually company matches 100% of certain percentage you put in, and the market has to really tank, badly, for you to even go negative... but yeah.. market's crap right now.

 

I think you're right....the better option is to do nothing and let it go bankrupt.

 

Unless your company stole your money there is no way you should have lost all your money. You could have been invested in just 1 mutual fund and that would be diversified enough to prevent you from losing everything. A huge hit of 10-20% of your account would not be unheard of but something like losing all of your money in your case just doesn't sound right. I personally am invested and will continue to invest in the riskiest stock mutual funds that I can given my age but even with my extreeemely risky profile I have only lost about 10%. One thing to recognize that has already been mentioned is that you are buying a hell of a lot more shares for your money so unless your older or plan to use your withdraw your retirement account very soon a diversified high risk portfolio is not that big of a deal even in our shytty market conditions.

 

My 401k is through Wachovia. I have to call and check. I just saw that my ending balance for the last quarter's statement was at $0.00.

 

My 401k is through Wachovia. I have to call and check. I just saw that my ending balance for the last quarter's statement was at $0.00.

 

I would definitely give them a call, because either they stole it or it was transferred. I work for T Rowe Price and out of the hundreds of portfolios Ive worked with over the last 6 months some of the worst losses have come from people soley invested in Co. Stock and they have lost around 30% but still not the entire account. Some 401ks do have whats called an auto-rollover clause which if you have less than 5k after you leave the company they will force you out into an IRA. This is because the previous employer doesn't wanna keep paying to manage your account. So Hopefully they give you some good news and tell you it was transferred.