Yahoo Answers is shutting down on 4 May 2021 (Eastern Time) and the Yahoo Answers website is now in read-only mode. There will be no changes to other Yahoo properties or services, or your Yahoo account. You can find more information about the Yahoo Answers shutdown and how to download your data on this help page.
What does it mean if your rate of return on your 401K is at: [ - 8%]?
What if you were to close out your Account at that rate?
If you're still paying back a Loan that your took out from your 401K, can you still close out your Account?
2 Answers
- InspectorBudgetLv 71 decade agoFavourite answer
It means that you LOST 8 % of your account value during the time period of the report.
If you want to close out a 401K account ( something I DO NOT recommend ), you will have to repay all loans taken out on it, plus interest.
I strongly suggest you do not close out the account. If you are really scared of losing any more money, move the funds from stocks to a Money Market Account within the 401K. If you can hang tight, do so.
- Anonymous1 decade ago
It means you had a negative return for that period.
See www.401k.org for info on 401(k)
loans.
