Erieversible

I have finally decided what to do about my 401(k).  It hasn’t been easy, as the concept is new to me and the current economic climate really makes a mockery of any decision making process.

In my working history in the UK I’ve been on final salary pension plans.  I contribute maybe a little, the company pays the bulk of it.  The final pension is based on a percentage of my salary when I retire or leave, the size of the percentage being based on length of service.  Simple to understand and non-volatile.  I think that lot is fairly safe, even in the current economic climate - the value doesn’t fall.  The fund may, in some way, get wiped out entirely, but my pension is secure.  Or as secure as anything financial is at the moment.

Which is the dilemma facing the average American.  When nothing is safe, what to do?  I figure the real fact of the matter is that you have to look at a 401(k) as a risk.  But what’s the alternative to risk?  There are several, but none are going to provide the level of return that people probably need for their retirement. 

So what have I decided?  To take the risk.  Quite simply, to start a 401(k) and to try and beat the savings account percentages.  The only way to do that and reduce risk is to stay alert, stay aware, and get educated.  Not to just pay up every month and cross my fingers, but to actively monitor and check up on the funds in which I invest.  Yes, that’s going to be an effort, but it is my money, and we’ve all seen recently what can happen to your money if you blindly rely on someone else.   So, it is every man, woman and young wage earner for themselves, I’m afraid.

Maybe this is the perfect time to buy in, when everything is at a low point.  trouble is, everything seems to hit a low point and then carry on downwards.

Oh what interesting times we live in…

And indeed we had fire as well as smoke at work today.  It’s exciting, working in the US.  I am assured by colleagues who have been there 20+ years that this is the first fire they have experienced.  Guess that makes me lucky, experiencing one on my 6th day

I can make light of it because no-one was hurt.  The fire was small, and sorted out in quick time by the emergency services, but we were all sent home because the smoke filled the building and made it unsafe for a while.  I presume it will be back to normal tomorrow, except for the small area where the fire happened.

Meanwhile we’re busy sorting out the home insurance on the new house.  During that process we discovered that some items had ‘disappeared’ off our existing policy.  Hmmmmm.  Not sure how that happens.  The insurance company assures us that, should anything have happened to the items, they would have been insured.  Luckily it didn’t come to that.  I’ll go through the new policy with a fine tooth-comb when I sign all the paperwork on Thursday.

Is it a coincidence that the day I sort out house insurance we have a fire at work?  Of course it is, but it reinforces the importance of proper home insurance.

They have always been, of course, but this weekend felt particulary bad as hubby was home and the time just flew past.  Now he is on his way back to Buffalo and the house feels really empty.  Of course the kids are here, and usually they make enough noise and commotion for ten kids, but today it just feels too quiet and too empty here.

I know I’m overreacting!  The week will just fly past and hubby will be back on Friday night.  Then there are two short work weeks with Christmas and New Year.  And, hopefully, by the end of all of that we will be much closer to closing on the house and getting us moved to Buffalo as well.

It just feels “wrong” to be apart.  The kids are grumpy and hard to get along with (and at least SOME of that can be blamed on hubby being away!) and I feel even more short-tempered than normal!

I know there are a lot of people who are a lot worse off.  I have nothing but admiration for the spouses of the brave men and women who serve in the armed forces throughout the world, for instance.  It is hard having hubby away for a week at a time.  At least I know the most dangerous thing he is likely to encounter this week is “IT Pig Fest”, and that should be dangerous only to his waistline!!!