Sorry, I hate to see anyone loose money. I didn't realized you were retired. When I was younger I had no problem with taking risk but now that I am older can't afford to take the risk. Besides I have no idea how to play the markets anymore. Things are just too crazy. Wish you luck in getting your money back.
Whether you can live on it depends on how much money you have in your 401k and your life style. You are at time in your life where you are accumulating wealth so 3.35% is not that attractive to you but for me it is sufficient. During my life time I have live through the crash of 1987 and the great recession and I can not afford anything like that again. The only fear I have is seeing the treasury bills going lower. I wonder how low can they go? Will they ever go negative like the rest of the world. This is something I have not seen in my life and not sure how it will end? Can't see how they can ever raise the interest rates again because that would be a disaster for the government. They are financing the deficit on the backs of the retirees. What happens when that is not enough? Will they take my social security away? Alan Greenspan thinks this is the worse time he has ever seen for the markets and I agree. Stocks haven't performed that well this year and this bull has been running around seven years. How much more can we expect before we have the correction? We have a very good plan which allows people like me to get 3.35% even if it is not insured by the
FDIC. I am very happy with what they give me.
The new rate is 3.35% up from the 3.3%. We are very lucky indeed but for how long? The world seems to want negative rates everywhere so how long we can get anything is in question. The Fed has lost control and we are at the mercy of the world. I get so tired of hearing that stupid #$%$ tell us how the Fed is data dependent. What is the FED going to do? Lower interest rates or give us some more QE? Things do not look good but they could be worse. That HON deal was a real scare to me. I am a fix income guy and HON has nothing. Being put in their plan would be a disaster. Looks like a bad day ahead for the stock market.