This is absolutely ridiculous.
Who is managing these accounts, DEI hires?
I would have been better off with a high interest savings account.
27 replies (most recent on top)
Over 30 percent move your money around a little is the secret buy low sell high. Big resistance at 42 for company stock buy under 40 sell over 41 imo.
Mine’s 9.61% cumulative. Make better choices.
DEI has nothing to do with this. Why even mention it? Your 401k performance will depend on what funds you're invested in. Yes WFC stock sucks big time. So move money out of into one of a bunch of funds.
Went all in to the Stable Fund on 1/1/21 as I was planning to retire soon. Stopped all contributions since I would never see the matching bucks. Empower NEVER even attempted to get me to stay with them. WF knew I had the 401k and took lump sum pension and NEVER attempted to keep me despite the fact that those two alone were seven figures. Citi reached out to me when I made a $30k deposit to see what else I was looking to invest. My savings account with them has earned over 9% since 12/31/2020. The other investments are conservative with little equities as my ulcer cant take it but are still up 11.2% since then. Don't give me that not keeping up with inflation crud. Inflation hits what you spend not what you earn from assets. A 7% inflation rate when I spend $100k a year means my investment earnings must go up $7,000. If I have $1MM in assets that's just an increase of .7% to keep up.
Why would you knowingly invest money in WF stock when we have an asset cap? We can’t grow.
@kuk. Annualized rate is correct, not cumulative
2 years and 6 months have elapsed since 12/31/2020 so you need to divide the cumulative by 2.5 to get annualized
@kuk here, I goofed and gave my annualized rate. My cumulative rate since moving to Empower is 7.5%
My allocation is 85% Nasdaq index, 15% Bond index. It's been a great year, so far.
Shhhhhhhhhh, nobody tell OP it’s HIS 401k and not WellsFargo’s. It’s easier or dolts to blame others for their failings than own up to his lack of investment management skills. Mine shows a paltry 6.37% since that date.
- 8% for same time period. Well diversified. Abysmal.
Huh. Mine is up over 8.5% during that same time frame.
That’s what happens when your country elects a guy who can’t even stand up without falling on a stage
Lack of good choices of funds and high fees. Also don’t we have around a dozen choices? My last provider was much better and now we have the option to transfer to a brokerage under the 401k wrapper so unlimited options.
Thank our f-c&ed up President Biden and our Cr-ppy CEO Charlie. Bet Charlie has made millions. He is. POS
20% all in tech for 2023
Sorry suckers
Learn to code
OP - post your portfolio. Just the percentage allocations, not values
Op here, I didn’t make any changes to my investment options since I started.
If anyone has any advice I’d love to hear it.
Mine is up 13%, but last year was horrible. I don’t really care about the short-term performance anyway.
LoL - why mention DEI? Racist much?
Sounds like you are not good at managing your portfolio. Stop blaming everyone else but you.
https://www.thelayoff.com/post/@lzy+1mVxh11Q
Even 401 is like that, no growth.
If it's not going up 10%/year, real inflation is outpacing your gains anyway. Yay stagflation.
4% return for me
It was negative and only turned positive in the last 2 weeks due to NQ outperforming
I think it's clear that they are stealing our investment returns to offset all the fines and poor operating performance under the asset cap.
@OP needs to learn better investment management. I haven't touched my empower settings since we moved there and I'm at 2.5% return since 12/31/2020. Yeah, it's not great but I can't complain compared to a negative return.
Avoid everything but the index funds, otherwise the management fees are too high.
Ah...the ol hindsight investor. Good luck with that. Why stop there? Should have dumped everything and bought NVDA.
If you invested $1000.00 in Wells Fargo stock 10 years ago, and left it alone year over year, you’d have a whopping $1010.00 right now. There’s a reason why Warren Buffet dumped all his (Berkshire Hathaways) interest in the company. We don’t grow. We don’t change. We don’t innovate. We circle the drain. Eventually we’ll go down.
I mean to be fair it’s not like the economy was hyper inflated in 2020 due to stimulus checks and PPP. They can’t be the reason stocks were trading slightly higher then