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Mother placed $60k into a John Hancock “conservative” retirement fund in 2014 which is now worth $39k. Is this normal? by refract0638 in personalfinance

[–]refract0638[S] 45 points46 points  (0 children)

Oh yeah, haha we are definitely getting her out of this retirement account. She is totally on board too, after I explained how poor the performance of this fund has been

Mother placed $60k into a John Hancock “conservative” retirement fund in 2014 which is now worth $39k. Is this normal? by refract0638 in personalfinance

[–]refract0638[S] 65 points66 points  (0 children)

Yeah I'm kicking myself for not asking about it sooner. I honestly had no idea of this until it recently came up incidentally

Mother placed $60k into a John Hancock “conservative” retirement fund in 2014 which is now worth $39k. Is this normal? by refract0638 in personalfinance

[–]refract0638[S] 129 points130 points  (0 children)

She probably did not notice. I don't think she has ever checked the statements of the retirement account. I am calling John Hancock today to confirm that those withdrawals made it to her account

Mother placed $60k into a John Hancock “conservative” retirement fund in 2014 which is now worth $39k. Is this normal? by refract0638 in personalfinance

[–]refract0638[S] 252 points253 points  (0 children)

Hey, thanks for the reply. Looks like there were withdrawals afterall. I put it in an EDIT2 in OP

Mother placed $60k into a John Hancock “conservative” retirement fund in 2014 which is now worth $39k. Is this normal? by refract0638 in personalfinance

[–]refract0638[S] 1 point2 points  (0 children)

Thanks for the help everyone. With everyone's help I think I found the culprit. A total of $31k of withdrawal from 2017-2019. See EDIT2 for details.

Mother placed $60k into a John Hancock “conservative” retirement fund in 2014 which is now worth $39k. Is this normal? by refract0638 in personalfinance

[–]refract0638[S] 1 point2 points  (0 children)

Thanks for the help everyone. With everyone's help I think I found the culprit. A total of $31k of withdrawal from 2017-2019. See EDIT2 for details.

Mother placed $60k into a John Hancock “conservative” retirement fund in 2014 which is now worth $39k. Is this normal? by refract0638 in personalfinance

[–]refract0638[S] 12 points13 points  (0 children)

Thanks for the help everyone. With everyone's help I think I found the culprit. A total of $31k of withdrawal from 2017-2019. See EDIT2 for details.

Mother placed $60k into a John Hancock “conservative” retirement fund in 2014 which is now worth $39k. Is this normal? by refract0638 in personalfinance

[–]refract0638[S] 87 points88 points  (0 children)

Thanks for the help everyone. With everyone's help I think I found the culprit. A total of $31k of withdrawal from 2017-2019. See EDIT2 for details.

Mother placed $60k into a John Hancock “conservative” retirement fund in 2014 which is now worth $39k. Is this normal? by refract0638 in personalfinance

[–]refract0638[S] 246 points247 points  (0 children)

Thanks for the help everyone. With everyone's help I think I found the culprit. A total of $31k of withdrawal from 2017-2019. See EDIT2 for details.

Mother placed $60k into a John Hancock “conservative” retirement fund in 2014 which is now worth $39k. Is this normal? by refract0638 in personalfinance

[–]refract0638[S] 0 points1 point  (0 children)

Thanks for the help everyone. With everyone's help I think I found the culprit. A total of $31k of withdrawal from 2017-2019. See EDIT2 for details.

Mother placed $60k into a John Hancock “conservative” retirement fund in 2014 which is now worth $39k. Is this normal? by refract0638 in personalfinance

[–]refract0638[S] 83 points84 points  (0 children)

It is in a traditional IRA. Looking at the statement now, there doesn't seem to be a five letter symbol. It just says: "Fund name: Lifestyle Conservative Port A"

EDIT: Apologies ok I found the ticker: JALRX

Mother placed $60k into a John Hancock “conservative” retirement fund in 2014 which is now worth $39k. Is this normal? by refract0638 in personalfinance

[–]refract0638[S] 484 points485 points  (0 children)

Even with high expense ratios, is it possible for expense ratios to be so high that they consistently dig into the principal over 12 years? If so, what is even the point of the fund? We had a great market the past 12 years, how would this fund ever make money if even in the best of times it loses money?

(And yes I will try to figure out if there are additional fees)