Comments People Made about Their 401k Retirement Plans

• I never pay attention to it. At least my money is safe there, right?
• No one knows how the plan performs in the future, I simply put all my contributions into money market. That way, at least I would not lose money.
• Some years ago, one of mutual funds in my 401k plan performed very well and was managed by a well known Wall Street firm. I put a big portion of my contributions into this fund, hoping my money would grow... Before I eventually took a look again at my portfolio and sold the fund, $10,000 had been lost already. That's ridiculous!
• During late 1990's stock market boom, my company's 401k plan was managed by Putnam Investments. I had managed to put about $17,000 in my 401k plan with this company. However, that number hardly increased at all during the boom and I ended up with only $7,000 left in the account when I left that company in 2001. Later on I learned that during that time, the Putnam Investments had a lot of internal problems and its money managers hardly did their work!
• My company is very cheap. They just switched the management company for its 401k retirement plan to save money. And I did a cross-board comparison between the new plan and the old plan. The new plan really sucks. Not before long, I quit.