Move My 401(k) To Somewhere Safer?
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LEARN MORE ABOUT: 401k Plans
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Are you feeling nervous about the state of your 401(k) investment? You’re not alone. With the uncertainty in the stock market and the economic impact of the COVID-19 pandemic, many people are wondering if they should move their 401(k) to a safer investment option.
The 401(k) is a popular retirement savings plan that many working individuals contribute to through their employer. However, the market volatility and economic downturn have left many people concerned about the safety of their investments. While it may be tempting to move your 401(k) to a safer option, it’s essential to carefully consider the potential consequences before making any hasty decisions.
When it comes to determining if moving your 401(k) to a safer option is the right choice for you, it’s crucial to weigh the risks and benefits. While moving your investment to a safer option may provide peace of mind in the short term, it could also mean missing out on potential long-term gains when the market eventually rebounds. It’s important to consider your retirement timeline and risk tolerance before making any decisions.
If you’re considering moving your 401(k) to a safer option, it’s essential to understand the different investment options available to you. This may include options such as stable value funds, money market funds, or guaranteed investment contracts. Each of these options has its advantages and disadvantages, and it’s crucial to carefully consider which option aligns with your financial goals and risk tolerance.
Furthermore, it’s also important to consult with a financial advisor or retirement planning expert before making any decisions about your 401(k). A professional can provide personalized guidance based on your individual circumstances and help you make an informed decision about the best course of action for your retirement savings.
Ultimately, the decision to move your 401(k) to a safer investment option is a personal one that should be carefully considered in light of your financial goals and risk tolerance. While it’s natural to feel anxious about the state of your investments during uncertain times, it’s essential to approach any potential changes to your retirement savings with caution and careful consideration. By seeking professional guidance and carefully weighing the risks and benefits, you can make a decision that aligns with your long-term financial goals and provides peace of mind for your retirement savings.
I deserve a toilet paper yacht on the Lake of Fire. However I have a golden mop bucket waiting on me and Heaven. Because it's better to clean the bathrooms in heaven than sit on the throne in hell.
What can I do with $140,000 cash before crypto takes it?
I thought about cashing in my 401k and investing in opening up a Long John Silvers
What fund is guaranteed???
He doesn't want to buy things on sale?!
I just can't wrap my head around how many people actually think they're losing money because their accounts are worth less. That's all it is, they're worth less, you still own the same amount of shares. You have to take emotion out of investing and look at the big picture. I think some people just don't have the maturity or the patience for investing and are better off storing their money in the mattress. You can't help some folks, they just don't get it.
what a farce
I ended up moving mine to bonds in 2020 and when it was near the bottom I moved it back to large cap and gained 53%. The following year I made 26% by leaving it in large cap. This year I moved it and reduced my loss by 15%. I was still buying large cap at a discount.
It's not on sale…it will be destroyed very soon.
I know a guy who was persuaded by his wife to get a couch for their new apartment with his 401k.
Great video as usual ☘️☘️☘️☘️☘️☘️☘️
The point to move the money NOW is not because it has dropped and you think it will not recover right away. It would be because you think it will continue to drop. All decisions need to be made based on current value, not prior value.
There should really be a class on 401ks offered by employers or schools or something. Theres no pensions anymore so when most people get old now the 401k money is like all they have to live on.
I know a guy who cashed his 401k early to buy a used suv. People will never learn.
the more down the money is, the better the buys right now. and more importantly, the more it means you should NOT sell or move your money
but, but……but……..
This callers question shows a fundamental misunderstanding of investing.
I want all in on inflation adjusted bonds in early December, and am down zero. I don't know where the bottom is, but I'm going to buy after a 15% recovery from that bottom, solidifying that it is not just a relief rally.
People panic over the most trivial things.
I am waiting to see how this advice ages, since I could not disagree more. We will see….
Dude, you can't time it. Chill.
If everybody were in agreement it’s more likely to start going down rather than up… it would have already gone down. Don’t sell low.
where is the safest place to invest during inflation?
NOW IS THE TIME TO BUY AS MUCH AS U CAN
Sell your 401k and buy a new truck with it..
Thoughts on only Contributing to Roth IRA? I want to keep my money.
This caller is the epitome of: “tell me you’re a noob investor without telling me you’re a noob investor.”
What he doesnt realize is that "BUT" erases everything you said before it, and everything after it is an EXCUSE. Bah ha ha!!! "I know this Dave BUT_____" "I understand you dont do that Dave BUT _____________"