More Funds Accumulating In 401(K) Plans

It seems like there\’s nothing but bad news going around these days, but then again a ton of it is down to the press just fear-mongering again because it gets ratings. Anyway, there is something to give some people hope, particularly if they have retirement anxiety. Numerous reports revealed that 401(k) policies are starting to make cash again, after years of stagnation.

Avoid anxiety

The Huffington Post explained that there are many people in \”Generation Y\” who are really negative about having a potential retirement. Soon to be retirees and current ones were really upset when their 401(k) policies were practically lost over the last few years as the economy got really bad.

A bunch of 401(k) plans and accounts are starting to make more cash now, which is some good news for a number of people nearing retirement, according to USA Today.

Increasing by 25 percent

USA Today reports that multiple numbers have been reported, but they all show positive gains in the plans. 401(k) plans are tax-protected mutual funds, more or less, so when Lipper reported an 11.4 percent increase in the typical stock mutual fund, it essentially meant that retirement accounts are growing by at least that much.

Lipper also found the average stock mutual fund has appreciated 124 percent since the industry hit bottom in 2009. Aon Hewitt, a large handler of 401(k) accounts, recently found the typical 401(k) plan had $74,380, compared to $70,970 at the beginning of the year.

According to Time magazine, investment firm Funds Advisor found the median employer-sponsored retirement plan had valued by 25 percent in the past three years. Specifically, 401(k) policies valued an average 28 percent.

The increase varied by state; Mississippians liked an 80 percent increase while individuals in Arkansas had to do with a paltry 1 percent. Interestingly, \”red\” states saw an average 28 percent increase compared to 25 percent for blue states.

Putting in cash regularly

People who contributed to their 401(k) policies regularly saw the most gains, which both Time and USA Today reported to be a common thing.

Just like a snowball, retirement accounts can make more money and accumulate more with more cash added to it. Just a little more cash should be contributed to the account monthly so that it can make more money each month.

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Awful Celebrity Investments And The Cash Lost

While the miracle of celebrity may elevate the status related to specific people, this does not mean that everything celebrities touch turns to gold. Here are a few bad celebrity investments that may cause you to feel much better in the evening.

Investing as Mark Twain

In the late 19th century, Mark Twain invested $150,000 to $300,000 on a machine known as the Paige Compositor for 11 years. That was a lot of money back then to throw into an investment. This well-known writer, known as the first modern celebrity in America by some, wanted this typesetter that was intended to be much faster than standard Linotype. The business perished pretty quickly as the machine was hard to work with and had over 18,000 parts.

Poor Jay-Z investment

Jay-Z\’s J Hotels in New York City turned out to be a serious bust. The hip-hop mogul bought land in the Chelsea neighborhood in 2007 to build a 150,000-square-foot luxury hotel. By 2008, however, construction was shut down due to lack of funds caused by the economic crash. Jay-Z\’s business defaulted on the $52 million loan, and the hotel partners gave the property back to the lenders. Legal battles and out-of-court settlements came to a painful yet unspecified financial end in December 2010.

Huge losses for Bono

Bono was extremely successful in his investments with Facebook, BioWare, Pandemic Studios and Yelp. The only problem was that his confidence grew into investments in Forbes, Inc. ($300 million) and Palm ($460 million). These investments only brought a $25 million return for Bono, and he was known as \”the worst investor in America\” by 24/7 Wall Street. He is the managing director for entertainment equity firm Elevation Partners presently.

Bad investment by Larry King

A life insurance scam that flipped policies was something King accidently got behind. He made $1.4 million regardless of the fact that he gave up two policies worth $15 million.

Madoff conned them all

More than 200 investors, such as celebrities were taken in by Bernard Madoff\’s $65 billion Ponzi scheme. Madoff is now in jail serving 150 years for 11 federal felonies, while celebs and lower-profile investors are still trying to find ways to make up for their sizable financial loss.

Burt Reynolds

The most popular film star of the 1970s, Burt Reynolds wound up handling the urge many celebs face: opening a restaurant chain. The chain was PoFolks, and outlets existed in California, Texas and Florida. By the late 1980s, however, the cupboard was bare and Reynolds was out $15 million. His eventual divorce from Loni Anderson and diminished star power led to a 1996 bankruptcy. Even though he was more than $10 million in debt, bankruptcy court allowed him to keep his $2.5 million mansion and all of his personal property that Anderson had not already claimed.

Debbie Reynolds

Debbie Reynolds decided she wanted to open a Las Vegas casino and hotel in 1991, although she did not realize that being off the strip would make it extremely hard to stay in business. It was called the Debbie Reynolds Hotel and Casino, but she ended up selling it for $10 million to the World Wrestling Federation in 1998 after a 1997 bankruptcy. She ended up broke, and was even more serious off when having to sell all her film career memorabilia in 2010 when her museum went bankrupt.

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