I’m retired and do not depend on my Rollover 401 monies for my expenses. I have lost about 1/3 of my during these economic times. I understand that Fidelity is not FDIC insured and I’m concerned about its safety. Do I need to be?

 

  • leftcoastliz 8:19 am on August 27, 2010

    Define safe. I take it you mean stock funds, so they’re a bit volatile, but I don’t think you’ll lose everything like you could with an individual stock. You’re doing pretty well if you only lost 1/3. You must have had something like Balanced Fund or maybe Contra. Some did much worse. Ginnie Mae, the bond fund backed by treasuries, gained about 6.9%, didn’t it? I’ve forgotten.

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