After the big drop in the stock market earlier this week, all I heard about on the news was that “things” had fallen to their November lows again…
That struck me as a little odd.
Without even looking it up, I was pretty confident that my 401k balance was considerably higher than it was when everything tanked four months ago.
And it is!
My November “low” was $43,498.02. That was on November 21st.
Sure, I was upset that that was $21k less than it was just 8 weeks earlier, but I kept on contributing at my regular rate anyway.
Now I know that, in reality, I’ve technically been losing money on most of my contributions since then…but I’m a pretty simple guy — it’s the bottom line that matters most. That’s my balance.
Right now, my balance is $51,807.72.
Not even close to those November lows….
And why is that?
It’s because I never stopped contributing.