401K
I am a 67 year old retiree. I have loss over $30,000 because of the stock market being down for months. Should I hold out from withdrawing anything from my account..Thank you
Terry Says
Well, I hope you have other savings OUTSIDE your 40l(k) plan. I’m assuming that you don’t need the money to live on now, and won’t be required to take withdrawals for another 5 years. By then, I hope the market will have rebounded and moved on to higher levels.
If you’re not still working and contributing — take a look at the investment options INSIDE your plan, and if there is a money market fund option maybe move 25% into that — without taking any money OUT of your plan.
