By Terry Savage on June 30, 2022 | Investments

My husband and I are 69 years old we are both working still because we have a mortgage on our house, my question is I’m the only one that has a 401k and my husband had lost his job in 2013, we took his 401k and put it into an annuity now I’m loosing money on my 401 what should we do we can’t afford to loose it what should I do

Terry Says

Keep the money INSIDE the retirement plan, but see if there is a money market mutual fund investment option within the plan. Then move about 405 of your balance into the money market fund option. Or maybe there is a stable value fund option in the plan. Don’t take it out of the plan — assuming you’ve retired and are allowed to take withdrawals — because then you’ll pay a hunk of taxes.



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