So what's really going on with our 401k. I'm in the process of purchasing a home so I've been checking my balance quiet often and within this month alone there been $500 pulled from my money.
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I'm not trying to be funny. Financially speaking your post is very alarming. You really should do some research on personal finances or speak to a professional.
I've lost thousands! 🥺
If you are really this naive you should not be a homeowner.
If only 500 consider yourself lucky. Watch the stock market. Mine averages out at 1.30 per point lost or gained. Wait until the housing bubble bursts before you buy. Also the interest rate for loans just went up by three fourths of a percent. It's not a buyers market right now. Wait until that mor#n Biden and his socialist cronies are voted out and things get straightened out by the adults who will be left to fix his disastrous policies.
Your 401K "money" is invested in stocks / shares of various "funds" . Each day that you check your 401K what you see is a report of the value of your investment on that day. As the stock market goes up and down so does the value of your 401K. When you see that number get bigger or smaller you have not gained or lost any actual money. Your gain or loss will become "reality" when you cash out your 401K. So if indeed you cash out when you see the decrease you will indeed lose money. But leave it alone and you have yet to lose anything.