A love letter to your Minnesota 401(k)

Dear 401(k),

I know that I have neglected you lately. The truth is, I have not even found the time to look over my 2016 year-end account statement.

Remember that you were one of my 2017 New Year’s resolutions? I promised that I would pay more attention to you going forward. I need to be honest with you; just four months into 2017 I can say that is not really going to happen.

As always, “stuff gets in the way.” Between family, kids, and work I just have not found the time lately to even go online with you for a few minutes to catch up.

I keeping reading bits and pieces of investment advice articles that I am long overdue to “rebalance,” “asset allocate,” and “manage my investment risk.” It would be great if I actually knew what any of those terms mean.

Which leads me to the point of this letter.

I really do care about you. I think that it is great that you have grown to an all-time high balance over the last 8-plus years. Even better, I am now more than “break even” on the stock market losses that I took in late 2008 and early 2009.

Oh, I suddenly remembered that I was not paying attention to you back then either.

Which reminds me, what are you doing to make sure that my 401(k) does not turn into a 201(k) again?

Is there an app that I can download to my phone to fix that? I can now see the inside of my refrigerator from my cell phone. I should be able to do the same thing with my 401(k) by now.

Wait a minute! Did I just have an idea for a new app? I wonder if one of my kids knows how to code. If they did, I would not have to save as much money for their college.

I am still thinking about you. When I have time to remember. And to try to forget my past company 401(k) retirement plan investment management mistakes which I keep repeating every few years.

Ric Lager
Lager & Company, Inc.