You know you’re a Boglehead when. . .

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stemikger
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You know you’re a Boglehead when. . .

Post by stemikger »

I just had to put this recent event that happened to me in my life. After 23 years at the same company, they outsourced several departments (including mine). The good news is I was hired by the outsourcing firm, but in 6 months will get a salary cut which I can live with. While most of my co-workers were angry, sad and even in tears, I was kind of happy because I was able to roll-over my 401K in the Balanced Index Fund in Vanguard.

Also, thanks to living below and within my means, it wasn't a tragic event as it was for many.

Can't wait to see my large 401K all in the Vanguard Balanced Index Fund (for life).
Last edited by stemikger on Sun Oct 07, 2018 8:53 am, edited 2 times in total.
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Re: You know your a Boglehead when. . .

Post by JPH »

Good for you. Forge ahead.
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Re: You know your a Boglehead when. . .

Post by JoMoney »

I want to say congrats(?) :?
... here's to having a plan, and staying positive :beer
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Re: You know your a Boglehead when. . .

Post by GoldenFinch »

I’m glad that this event was something that you could take in stride.

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Re: You know your a Boglehead when. . .

Post by typical.investor »

Great attitude!
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Re: You know your a Boglehead when. . .

Post by fortyofforty »

More evidence in support of international equity investing, maybe? Glad you're able to work through this economic setback and stay the course. :beer
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Re: You know your a Boglehead when. . .

Post by staythecourse »

Not sure this has to being a boglhead, but a great real life example of the fruits of being a financially responsible individual in ADVANCE of that rainy day.

What folks who don't care for learning about investing don't realize is how EMPOWERING it is to have some control of your financial life. Glad to see you got a peek of that empowerment when most others who were getting anxious about their futures.

Good luck.
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Re: You know your a Boglehead when. . .

Post by Rowan Oak »

staythecourse wrote: Sun Oct 07, 2018 7:57 am What folks who don't care for learning about investing don't realize is how EMPOWERING it is to have some control of your financial life. Glad to see you got a peek of that empowerment when most others who were getting anxious about their futures.
+1
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Re: You know your a Boglehead when. . .

Post by stemikger »

fortyofforty wrote: Sun Oct 07, 2018 7:21 am More evidence in support of international equity investing, maybe? Glad you're able to work through this economic setback and stay the course. :beer
LOL. No still staying the course with my all U.S. balanced fund. It's like the old reliable car that has some dents but keeps on getting you to your destination. lol
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Re: You know your a Boglehead when. . .

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Thanks everyone for the positive feedback!

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Re: You know your a Boglehead when. . .

Post by mortfree »

*you’re

#BHfail
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Re: You know your a Boglehead when. . .

Post by Shallowpockets »

You might be a true BH if you were on the end of the stick where you did not get to continue with the outsourcing company at less pay and instead were with the group of people who were out of a job. You could still have rolled your 401 with that scenario, but your finances would be tested more so than now.
As it is you will soon get to see how you will do on less take home pay than before.
The essence of this episode is that as a BH you are still able to sleep at night, either way.
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Re: You know your a Boglehead when. . .

Post by stemikger »

mortfree wrote: Sun Oct 07, 2018 8:17 am *you’re

#BHfail
LOL. It was early. I fixed it. lol.
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Re: You know you’re a Boglehead when. . .

Post by sport »

If your skills are marketable, this might be a good time to begin looking for another employer. Given a choice, I would not want to work for a company that gives everyone a pay cut. I figure that if they don't value me, it is not a place I want to work. What about future raises, cuts to benefits, heavier workload, longer hours, etc. etc?
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Re: You know your a Boglehead when. . .

Post by Doom&Gloom »

typical.investor wrote: Sun Oct 07, 2018 7:02 am Great attitude!
+1

Kudos for your handling of this transition.
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Re: You know you’re a Boglehead when. . .

Post by 2015 »

Excellent job at being ahead of the game! This is exactly how you succeed in all areas of life. Stay the course!

I initially had some pretty nasty reactions to your company, but managed to remain calm by reminding myself organizational stunts like this are the reason I retired. 3 1/2 years into retirement, I'm still getting calls from headhunters during this era of the lowest unemployment rate since 1969. It gives me great pleasure not returning their calls.
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Re: You know you’re a Boglehead when. . .

Post by Sandtrap »

stemikger wrote: Sun Oct 07, 2018 6:43 am I just had to put this recent event that happened to me in my life. After 23 years at the same company, they outsourced several departments (including mine). The good news is I was hired by the outsourcing firm, but in 6 months will get a salary cut which I can live with. While most of my co-workers were angry, sad and even in tears, I was kind of happy because I was able to roll-over my 401K in the Balanced Index Fund in Vanguard.

Also, thanks to living below and within my means, it wasn't a tragic event as it was for many.

Can't wait to see my large 401K all in the Vanguard Balanced Index Fund (for life).
Proof is in the pudding.
Congratulations on a good plan working out well.
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Re: You know you’re a Boglehead when. . .

Post by LadyGeek »

This is a "family-friendly" environment - things you can say in front of the little ones. I removed a post which used an "adult language" phrase for a certain type of money (having enough money so you don't need to work for a living).

I also removed a reply which linked to a website (and subsequent youtube video) which utilized this language.
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Re: You know you’re a Boglehead when. . .

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stemikger wrote: Sun Oct 07, 2018 6:43 am ...in 6 months will get a salary cut....I was kind of happy because I was able to roll-over my 401K in the Balanced Index Fund in Vanguard.
At the risk of sounding like a sphincter muscle....

You took a pay cut, but now you get to reduce your investment costs. And this makes you happy?

If I may paraphrase and invent some numbers...You have a $500k 401k, and you will get to shave 1/2% off of your investment fees. That translates into a $2,500 per year savings. But you are making $25,000/year less than you were making before.

Net annual change of income = $22,500 loss. Yet you're happy about this because you're invested in the Vanguard Balanced Fund instead of the American Funds Balanced Fund.

The Kool-Aid is strong with this one.
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Re: You know you’re a Boglehead when. . .

Post by typical.investor »

Greenman72 wrote: Mon Oct 08, 2018 7:51 am
stemikger wrote: Sun Oct 07, 2018 6:43 am ...in 6 months will get a salary cut....I was kind of happy because I was able to roll-over my 401K in the Balanced Index Fund in Vanguard.
At the risk of sounding like a sphincter muscle....

You took a pay cut, but now you get to reduce your investment costs. And this makes you happy?

If I may paraphrase and invent some numbers....you are getting paid $25,000 per year less. You have a $500k 401k, and you will get to shave 1/2% off of your investment fees. That translates into a $2,500 per year savings.

Net annual change of income = $22,500 loss. Yet you're happy about this because you're invested in the Vanguard Balanced Fund instead of the American Funds Balanced Fund.

The Kool-Aid is strong with this one.
I viewed the OP as finding something positive in the situation and reaffirming the decision to save early.
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Re: You know you’re a Boglehead when. . .

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typical.investor wrote: Mon Oct 08, 2018 7:54 am
Greenman72 wrote: Mon Oct 08, 2018 7:51 am
stemikger wrote: Sun Oct 07, 2018 6:43 am ...in 6 months will get a salary cut....I was kind of happy because I was able to roll-over my 401K in the Balanced Index Fund in Vanguard.
At the risk of sounding like a sphincter muscle....

You took a pay cut, but now you get to reduce your investment costs. And this makes you happy?

If I may paraphrase and invent some numbers....you are getting paid $25,000 per year less. You have a $500k 401k, and you will get to shave 1/2% off of your investment fees. That translates into a $2,500 per year savings.

Net annual change of income = $22,500 loss. Yet you're happy about this because you're invested in the Vanguard Balanced Fund instead of the American Funds Balanced Fund.

The Kool-Aid is strong with this one.
I viewed the OP as finding something positive in the situation and reaffirming the decision to save early.
+1

Yeah, this pretty much sums it up. Of course I wish this didn't happen at all, but due to living a modest life, paying off my home carrying little to no debt, I was able to weather this storm. Why not look at the bright side of this situation. It is not life or death and due to being responsible with money, the pay cut will not be the end of the world either. From the looks of some of my other co-workers who are close friends and I know many of their situations, I really felt for them because I know they have many more obligations and it is definitely a scarier time for them.

So I looked at the thing I was excited about like putting my money in my control and not my company's 401K.
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Re: You know you’re a Boglehead when. . .

Post by Mr. Potter »

Stemikger,
I love your attitude, reminds of and old quote I read years ago...

ATTITUDE
by: Charles Swindoll
The longer I live, the more I realize the impact of attitude on life.

Attitude, to me, is more important than facts. It is more important than the past, than education, than money, than circumstances, than failures, than successes, than what other people think or say or do. It is more important than appearance, giftedness or skill. It will make or break a company... a church... a home.

The remarkable thing is we have a choice every day regarding the attitude we will embrace for that day. We cannot change our past... we cannot change the fact that people will act in a certain way. We cannot change the inevitable. The only thing we can do is play on the one string we have, and that is our attitude... I am convinced that life is 10% what happens to me and 90% how I react to it.

And so it is with you... we are in charge of our attitudes.
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Re: You know you’re a Boglehead when. . .

Post by Greenman72 »

@OP - OK. When you put it that way, it makes more sense.
I get it, and I retract my earlier statement. (But I'm not going to delete it, because then the thread gets confusing.)
And I apologize for acting like a sphincter muscle.
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Re: You know you’re a Boglehead when. . .

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stemikger wrote: Sun Oct 07, 2018 6:43 am I just had to put this recent event that happened to me in my life. After 23 years at the same company, they outsourced several departments (including mine). The good news is I was hired by the outsourcing firm, but in 6 months will get a salary cut which I can live with. While most of my co-workers were angry, sad and even in tears, I was kind of happy because I was able to roll-over my 401K in the Balanced Index Fund in Vanguard.
Also, thanks to living below and within my means, it wasn't a tragic event as it was for many.
Can't wait to see my large 401K all in the Vanguard Balanced Index Fund (for life).
Good for you that the outsourcing is to a domestic company. I was just chatting with a long time acquaintance whose employer (he is not affected) will be outsourcing some IT functions to India. Some IT folks there will lose their jobs.
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Re: You know you’re a Boglehead when. . .

Post by stemikger »

Oak&Elm wrote: Mon Oct 08, 2018 8:12 am Stemikger,
I love your attitude, reminds of and old quote I read years ago...

ATTITUDE
by: Charles Swindoll
The longer I live, the more I realize the impact of attitude on life.

Attitude, to me, is more important than facts. It is more important than the past, than education, than money, than circumstances, than failures, than successes, than what other people think or say or do. It is more important than appearance, giftedness or skill. It will make or break a company... a church... a home.

The remarkable thing is we have a choice every day regarding the attitude we will embrace for that day. We cannot change our past... we cannot change the fact that people will act in a certain way. We cannot change the inevitable. The only thing we can do is play on the one string we have, and that is our attitude... I am convinced that life is 10% what happens to me and 90% how I react to it.

And so it is with you... we are in charge of our attitudes.
I love this!! Thanks for sharing it!
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Re: You know you’re a Boglehead when. . .

Post by stemikger »

Greenman72 wrote: Mon Oct 08, 2018 8:21 am @OP - OK. When you put it that way, it makes more sense.
I get it, and I retract my earlier statement. (But I'm not going to delete it, because then the thread gets confusing.)
And I apologize for acting like a sphincter muscle.
No worries! I did get a chuckle with the sphincter muscle line. lol.

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Re: You know you’re a Boglehead when. . .

Post by stemikger »

dm200 wrote: Mon Oct 08, 2018 10:06 am
stemikger wrote: Sun Oct 07, 2018 6:43 am I just had to put this recent event that happened to me in my life. After 23 years at the same company, they outsourced several departments (including mine). The good news is I was hired by the outsourcing firm, but in 6 months will get a salary cut which I can live with. While most of my co-workers were angry, sad and even in tears, I was kind of happy because I was able to roll-over my 401K in the Balanced Index Fund in Vanguard.
Also, thanks to living below and within my means, it wasn't a tragic event as it was for many.
Can't wait to see my large 401K all in the Vanguard Balanced Index Fund (for life).
Good for you that the outsourcing is to a domestic company. I was just chatting with a long time acquaintance whose employer (he is not affected) will be outsourcing some IT functions to India. Some IT folks there will lose their jobs.
So true. That could have been the other scenario. I'm happy it wasn't!
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Re: You know you’re a Boglehead when. . .

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stemikger wrote: Mon Oct 08, 2018 10:18 am
dm200 wrote: Mon Oct 08, 2018 10:06 am
stemikger wrote: Sun Oct 07, 2018 6:43 am I just had to put this recent event that happened to me in my life. After 23 years at the same company, they outsourced several departments (including mine). The good news is I was hired by the outsourcing firm, but in 6 months will get a salary cut which I can live with. While most of my co-workers were angry, sad and even in tears, I was kind of happy because I was able to roll-over my 401K in the Balanced Index Fund in Vanguard.
Also, thanks to living below and within my means, it wasn't a tragic event as it was for many.
Can't wait to see my large 401K all in the Vanguard Balanced Index Fund (for life).
Good for you that the outsourcing is to a domestic company. I was just chatting with a long time acquaintance whose employer (he is not affected) will be outsourcing some IT functions to India. Some IT folks there will lose their jobs.
So true. That could have been the other scenario. I'm happy it wasn't!
... unless you wanted to move to India!!
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Re: You know you’re a Boglehead when. . .

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dm200 wrote: Mon Oct 08, 2018 4:33 pm
stemikger wrote: Mon Oct 08, 2018 10:18 am
dm200 wrote: Mon Oct 08, 2018 10:06 am
stemikger wrote: Sun Oct 07, 2018 6:43 am I just had to put this recent event that happened to me in my life. After 23 years at the same company, they outsourced several departments (including mine). The good news is I was hired by the outsourcing firm, but in 6 months will get a salary cut which I can live with. While most of my co-workers were angry, sad and even in tears, I was kind of happy because I was able to roll-over my 401K in the Balanced Index Fund in Vanguard.
Also, thanks to living below and within my means, it wasn't a tragic event as it was for many.
Can't wait to see my large 401K all in the Vanguard Balanced Index Fund (for life).
Good for you that the outsourcing is to a domestic company. I was just chatting with a long time acquaintance whose employer (he is not affected) will be outsourcing some IT functions to India. Some IT folks there will lose their jobs.
So true. That could have been the other scenario. I'm happy it wasn't!
... unless you wanted to move to India!!
lol. You are talking to someone who never changed their zip code and the closest I came to going to another country is EPCOT. lol
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Re: You know you’re a Boglehead when. . .

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stemikger wrote: Sun Oct 07, 2018 6:43 am I just had to put this recent event that happened to me in my life. After 23 years at the same company, they outsourced several departments (including mine). The good news is I was hired by the outsourcing firm, but in 6 months will get a salary cut which I can live with. While most of my co-workers were angry, sad and even in tears, I was kind of happy because I was able to roll-over my 401K in the Balanced Index Fund in Vanguard.

Also, thanks to living below and within my means, it wasn't a tragic event as it was for many.

Can't wait to see my large 401K all in the Vanguard Balanced Index Fund (for life).

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Re: You know you’re a Boglehead when. . .

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stemikger wrote: Sun Oct 07, 2018 6:43 am The good news is I was hired by the outsourcing firm, but in 6 months will get a salary cut which I can live with. While most of my co-workers were angry, sad and even in tears,.....
That sort of reminds me of an old fabel.
A man is sentenced to die by the king. As the verdict is announced, the man says, "Wait! If you spare my life, I promise that in one year, I will teach your horse to talk. If I fail, you can kill me then." The king is intrigued, and figures he has nothing to lose, so he agrees. Afterwards, the man's friend says, "Are you crazy? You'll never teach the king's horse to talk." The man laughs and says, "Think of it this way. I have an extra year to live, and a lot can happen in a year. I might die. The king might die. And who knows, maybe the horse will learn to talk."
I would still be cautious in this situation. Once they get through the transition phase and have replacements up to speed your days could be numbered at the new company.
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Re: You know you’re a Boglehead when. . .

Post by stemikger »

Watty wrote: Tue Oct 09, 2018 12:00 am
stemikger wrote: Sun Oct 07, 2018 6:43 am The good news is I was hired by the outsourcing firm, but in 6 months will get a salary cut which I can live with. While most of my co-workers were angry, sad and even in tears,.....
That sort of reminds me of an old fabel.
A man is sentenced to die by the king. As the verdict is announced, the man says, "Wait! If you spare my life, I promise that in one year, I will teach your horse to talk. If I fail, you can kill me then." The king is intrigued, and figures he has nothing to lose, so he agrees. Afterwards, the man's friend says, "Are you crazy? You'll never teach the king's horse to talk." The man laughs and says, "Think of it this way. I have an extra year to live, and a lot can happen in a year. I might die. The king might die. And who knows, maybe the horse will learn to talk."
I would still be cautious in this situation. Once they get through the transition phase and have replacements up to speed your days could be numbered at the new company.
Yeah, we discussed this and this particular company has outsourced other departments in this firm years ago and many of the same people are still here. They said they have no interest in letting anyone go in six months (that was all of our fears in the beginning). I guess I'll just have to wait and see. Having said that, I can't control what I can't control and if that does happen, I'll cross that bridge when I get to it. Either way, I'm glad I lived below my means and this next six months I am going to really beef up my emergency fund.
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Re: You know you’re a Boglehead when. . .

Post by CarpeDiem22 »

Thanks for sharing. Reaffirms my decision to live below my means, and not go out there and splurge it all.
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Re: You know you’re a Boglehead when. . .

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dm200 wrote: Mon Oct 08, 2018 10:06 am Good for you that the outsourcing is to a domestic company. I was just chatting with a long time acquaintance whose employer (he is not affected) will be outsourcing some IT functions to India. Some IT folks there will lose their jobs.
Did OP mention that they outsourced to a domestic company? Even then, some people lost jobs and some like OP will have their salary cut in half.

Outsourcing to any company will have job losses at the end client.
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Re: You know you’re a Boglehead when. . .

Post by RadAudit »

OP, thanks for the post.
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You know you’re a Boglehead when. . .

Post by marklearnsbogle »

stemikger wrote: Sun Oct 07, 2018 6:43 am I just had to put this recent event that happened to me in my life. After 23 years at the same company, they outsourced several departments (including mine). The good news is I was hired by the outsourcing firm, but in 6 months will get a salary cut which I can live with. While most of my co-workers were angry, sad and even in tears, I was kind of happy because I was able to roll-over my 401K in the Balanced Index Fund in Vanguard.

Also, thanks to living below and within my means, it wasn't a tragic event as it was for many.

Can't wait to see my large 401K all in the Vanguard Balanced Index Fund (for life).
Way to go, Steve. :happy Your post also buried the lede: living below and within your means. What I love about bogleheadism is what is tried and true is just that: tried and true. Living within and below may not always be easy, but it is a financial choice that succeeds no matter one's income. So often today the societal message seems to be once i have enough money I'll be financially sound. I have always thought If you can manage $5 with integrity, you can apply the same principle to any amount of money. Your post is inspiring, and reminds me what a gift this forum is for all of us. Thank you.
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Re: You know you’re a Boglehead when. . .

Post by stemikger »

marklearnsbogle wrote: Tue Oct 09, 2018 7:55 am
stemikger wrote: Sun Oct 07, 2018 6:43 am I just had to put this recent event that happened to me in my life. After 23 years at the same company, they outsourced several departments (including mine). The good news is I was hired by the outsourcing firm, but in 6 months will get a salary cut which I can live with. While most of my co-workers were angry, sad and even in tears, I was kind of happy because I was able to roll-over my 401K in the Balanced Index Fund in Vanguard.

Also, thanks to living below and within my means, it wasn't a tragic event as it was for many.

Can't wait to see my large 401K all in the Vanguard Balanced Index Fund (for life).
Way to go, Steve. :happy Your post also buried the lede: living below and within your means. What I love about bogleheadism is what is tried and true is just that: tried and true. Living within and below may not always be easy, but it is a financial choice that succeeds no matter one's income. So often today the societal message seems to be once i have enough money I'll be financially sound. I have always thought If you can manage $5 with integrity, you can apply the same principle to any amount of money. Your post is inspiring, and reminds me what a gift this forum is for all of us. Thank you.
+1

I appreciate that Mark!

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Re: You know you’re a Boglehead when. . .

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niceguy7376 wrote: Tue Oct 09, 2018 7:22 am
dm200 wrote: Mon Oct 08, 2018 10:06 am Good for you that the outsourcing is to a domestic company. I was just chatting with a long time acquaintance whose employer (he is not affected) will be outsourcing some IT functions to India. Some IT folks there will lose their jobs.
Did OP mention that they outsourced to a domestic company? Even then, some people lost jobs and some like OP will have their salary cut in half.

Outsourcing to any company will have job losses at the end client.
Yes - many folks "lose" when jobs are outsourced. That is the whole idea.
fortyofforty
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Re: You know you’re a Boglehead when. . .

Post by fortyofforty »

dm200 wrote: Tue Oct 09, 2018 5:09 pm
niceguy7376 wrote: Tue Oct 09, 2018 7:22 am
dm200 wrote: Mon Oct 08, 2018 10:06 am Good for you that the outsourcing is to a domestic company. I was just chatting with a long time acquaintance whose employer (he is not affected) will be outsourcing some IT functions to India. Some IT folks there will lose their jobs.
Did OP mention that they outsourced to a domestic company? Even then, some people lost jobs and some like OP will have their salary cut in half.

Outsourcing to any company will have job losses at the end client.
Yes - many folks "lose" when jobs are outsourced. That is the whole idea.
But other folks "win" when jobs are outsourced, of course. That is the nature of economics.
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dm200
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Re: You know you’re a Boglehead when. . .

Post by dm200 »

fortyofforty wrote: Tue Oct 09, 2018 6:03 pm
dm200 wrote: Tue Oct 09, 2018 5:09 pm
niceguy7376 wrote: Tue Oct 09, 2018 7:22 am
dm200 wrote: Mon Oct 08, 2018 10:06 am Good for you that the outsourcing is to a domestic company. I was just chatting with a long time acquaintance whose employer (he is not affected) will be outsourcing some IT functions to India. Some IT folks there will lose their jobs.
Did OP mention that they outsourced to a domestic company? Even then, some people lost jobs and some like OP will have their salary cut in half.
Outsourcing to any company will have job losses at the end client.
Yes - many folks "lose" when jobs are outsourced. That is the whole idea.
But other folks "win" when jobs are outsourced, of course. That is the nature of economics.
Sure is!!
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CaliJim
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Re: You know you’re a Boglehead when. . .

Post by CaliJim »

stemikger wrote: Sun Oct 07, 2018 6:43 am I just had to put this recent event that happened to me in my life. After 23 years at the same company, they outsourced several departments (including mine). The good news is I was hired by the outsourcing firm, but in 6 months will get a salary cut which I can live with. While most of my co-workers were angry, sad and even in tears, I was kind of happy because I was able to roll-over my 401K in the Balanced Index Fund in Vanguard.

Also, thanks to living below and within my means, it wasn't a tragic event as it was for many.

Can't wait to see my large 401K all in the Vanguard Balanced Index Fund (for life).
spending hours every day arguing with and correcting people on the internet that you don't even know is more important then emptying the dishwasher.
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pkcrafter
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Re: You know you’re a Boglehead when. . .

Post by pkcrafter »

LadyGeek wrote: Sun Oct 07, 2018 12:46 pm This is a "family-friendly" environment - things you can say in front of the little ones. I removed a post which used an "adult language" phrase for a certain type of money (having enough money so you don't need to work for a living).

I also removed a reply which linked to a website (and subsequent youtube video) which utilized this language.
Thank you, LadyGeek!

Oh, you know you are a Boglehead when you go into a bar and all drinks are $0.10, but you are sitting at the end of the bar waiting for senior discount happy hour. :D

Paul
When times are good, investors tend to forget about risk and focus on opportunity. When times are bad, investors tend to forget about opportunity and focus on risk.
Dottie57
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Re: You know your a Boglehead when. . .

Post by Dottie57 »

GoldenFinch wrote: Sun Oct 07, 2018 6:58 am I’m glad that this event was something that you could take in stride.

:sharebeer
+1
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oldzey
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Re: You know you’re a Boglehead when. . .

Post by oldzey »

stemikger,

1. Glad that you are still employed.
2. Glad that you were able to roll your 401K into your favorite Jack Bogle-approved fund. 8-)
3. Thanks for sharing your experience with us!

Best,
oldzey
"The broker said the stock was 'poised to move.' Silly me, I thought he meant up." ― Randy Thurman
iamlucky13
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Re: You know you’re a Boglehead when. . .

Post by iamlucky13 »

stemikger wrote: Sun Oct 07, 2018 6:43 am I just had to put this recent event that happened to me in my life. After 23 years at the same company, they outsourced several departments (including mine). The good news is I was hired by the outsourcing firm, but in 6 months will get a salary cut which I can live with. While most of my co-workers were angry, sad and even in tears, I was kind of happy because I was able to roll-over my 401K in the Balanced Index Fund in Vanguard.
I like this silver lining viewpoint. You getting more control over you investments is a positve.

In contrast, I overheard several coworkers ranting to each other last week about the lack of control they have in our company 401k plan...because all our investment options are mutual funds, and they want to pull their money out and hold it in cash until the next crash is over.

I was twitching listening to the conversation.
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