Shoutout to that Reddit thread about old IRAs I ignored for 6 months

I finally read that whole post from someone in Chicago who moved their $3,200 forgotten 401(k) into a low-fee index fund instead of letting it sit and rot, and now I'm kicking myself for all the years of lost growth - has anyone else dug up an old retirement account they totally forgot about?

3 comments

3 Comments

olivia3986d ago

Question whether missing out on a few years of growth on $3,200 is really life changing enough to lose sleep over. That money could have doubled maybe tripled but you're acting like you missed out on buying a house or something. Most people forget about small accounts like that and it takes way more than that to retire on. Plus index funds still go down too you know. So you saved a bit of fees and maybe gained a little back but its not like you lost a lottery ticket. Relax a little.

harperg766d ago

A retirement planner on the radio said small accounts are often the ones people forget about and they add up more than you think. You are right that $3,200 won't buy a house, but rolling it over is about building good habits with your money. Little wins like this keep you engaged with your savings rather than letting it disappear into the void.

the_amy6d agoMost Upvoted

Yeah honestly I found a $1,500 IRA from a job I had like 8 years ago and just rolled it into my current account last month. It had been sitting in some dumb target date fund with high fees so even though the amount was small it felt good to get it working better. Not life changing or anything but hey free money is free money.