Question
401k loss what to do?
Interesting Question? 
(5) 
(5)
(5) (5)
Answers (1)
3rd Dec 2009 by Gary
A 401(K) plan is for the long term, and so there's really not much to do or worry about when things do grow like you want them to. The worst thing to do is panic and start to make all sorts of changes which could hurt you over the long term. Normally you are allowed to adjust things at certain intervals of the plan, and you can at those times make adjustments based upon your goals and risk tolerance. As long as you have a plan and stick with that plan, understanding as you grow older you'll want to weight your investments differently, you should do fine. And since most employers offer some type of match, you really have to have some bad years to lose money in the first place, although it can occasionally happen.
A 401(K) plan is for the long term, and so there's really not much to do or worry about when things do grow like you want them to. The worst thing to do is panic and start to make all sorts of changes which could hurt you over the long term. Normally you are allowed to adjust things at certain intervals of the plan, and you can at those times make adjustments based upon your goals and risk tolerance. As long as you have a plan and stick with that plan, understanding as you grow older you'll want to weight your investments differently, you should do fine. And since most employers offer some type of match, you really have to have some bad years to lose money in the first place, although it can occasionally happen.
Like This Answer? (0) (0)
This answer is the subjective opinion of the writer and not of FinancialAdvisory.com
(0) (0)
20th Oct 2009 In Retirement
1 Answers | 52 Views