Pretty upsetting - so I thought i'd share

[rocksolid]

<div class="bbWrapper">In 1996 I enrolled with Putnum for an IRA. The amount was $1041.20, not a lot of money but that was the amount. I have been watching for years this thing go up and down, mostly down. I decided today to cash out the IRA and use it toward my new kitchen. I will be able to write off the kitchen on my taxes as an improvment and really was looking for a good excuse to get out of the IRA. SO I cash out today, anybody care to guess how much I got ? In the 13 years I had the IRA I walked away with $1079.92 :fryingpan:. I made $38.72 in 13 years. See what happends when we do as everybody else does and listen to people telling you to put the money where it will grow. I did the math and if I had the money in a regular savings account at 1% interest I would have walked away with $1185.00. Worst of all, Putnum would take out a yearly fee to maintain the account which adds up to $135.00 over the last 13 years. Even they made money off of me :iamwithstupid::smx4::smx4::smx4:. Just thought I would share and give everybody a good laugh.</div>

 

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[EastWind]

<div class="bbWrapper">you made $38.72 not adjusted for inflation. Adjust for inflation, and you shouldn&#039;t be surprise if you see a loss. <img src="/community/imgs/emoticons/em-frown.png" class="smilie" loading="lazy" alt=":(" title="Frown :(" data-shortname=":(" /></div>

 

[rocksolid]

<div class="bbWrapper">Thanks EastWind, now I feel worse <img src="/community/imgs/emoticons/em-smile2.png" class="smilie" loading="lazy" alt=":)" title="Smile :)" data-shortname=":)" /></div>

 

[MJ DeMarco]

<div class="bbWrapper">In 1996 I opened a Roth for $1000 (it was a gift). I forgot about the account for over a decade. Fast forward to today and it is worth $698. This is the vehicle to wealth &quot;they&quot; are hitting you over the head with. Get Rich Slow! Buy and hold!</div>

 

[Operation_OPM]

<div class="bbWrapper">Somewhere Suze Orman is reading this thread looking a bit like this...........<img src="/community/imgs/emoticons/em-rofl.png" class="smilie" loading="lazy" alt=":rofl:" title="ROFL :rofl:" data-shortname=":rofl:" /></div>

 

[bflbob]

<div class="bbWrapper">Even worse is the news that your $1,079.92 will be taxed as earned income (20%-30%, if it isn&#039;t a Roth) and you&#039;ll owe a penalty for early withdrawal (10%, if you aren&#039;t 59-1/2), and your kitchen ISN&#039;T a write-off on taxes (unless you sell it for a gain of $600,000 or so -- and then it saves to 15% cap gains tax).</div>

 

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[maximus20895]

<div class="bbWrapper">You guys just keep on giving rocksolid pleasant news <img src="/community/imgs/emoticons/em-smile2.png" class="smilie" loading="lazy" alt=":)" title="Smile :)" data-shortname=":)" /></div>

 

[CactusWren]

<div class="bbWrapper">Bump. This is huge. Reminder of why we need to be in the driver&#039;s seat!!!</div>

 

[Bilgefisher]

<div class="bbWrapper"><blockquote data-attributes="" data-quote="CACTUSWREN" data-source="post: 114320" class="bbCodeBlock bbCodeBlock--expandable bbCodeBlock--quote js-expandWatch"> <div class="bbCodeBlock-title"> <a href="/community/goto/post?id=114320" class="bbCodeBlock-sourceJump" rel="nofollow" data-xf-click="attribution" data-content-selector="#post-114320">CACTUSWREN said:</a> </div> <div class="bbCodeBlock-content"> <div class="bbCodeBlock-expandContent js-expandContent "> Bump. This is huge. Reminder of why we need to be in the driver&#039;s seat!!! </div> <div class="bbCodeBlock-expandLink js-expandLink"><a role="button" tabindex="0">Click to expand...</a></div> </div> </blockquote><br /> Agreed. This is great news if you let it be. If you can learn from this life&#039;s lesson then it will earn you far more reward in the future.<br /> <br /> Remember, knowledge and experience are useless unless you act upon it. Keep this as a reminder.<br /> <br /> rep+ Cactuswren for seeing this with the right attitude.</div>