I left my job 13 years ago with $80,000 in a 401(k) plan and $500 a month pension. Two years ago the company told me that I had to get money for pension. I had already lost $45,000 of my 401(k) due to market drops.
When I cashed in my pension I got $50,000 from it. I rolled the remainder of 401(k)s plus pension into a 401(k) with a financial adviser with a total investment of $100,000.00.
I figure that I am down $100,000 over the past 13 years as my 401(k) continues to drop. I think that it would be better to pay off my house with the 401(k) money and put my house payment money under a mattress to at least have a potential profit when I sell my house All I have done is lose money with a 401(k) plan.