Financial Information
Some people are reporting a loss of 40% of retirement funds. Will you be closing your 401K?
Question : Some people are reporting a loss of 40% of retirement funds. Will you be closing your 401K?
Because of current financial crisis, some people are reporting a loss of 40% of retirement funds. Will you be closing your 401K?
retirement funds
Best answer:
Answer by Tomk
No. The market will eventually rebound.
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#4 written by Gem 1 year ago
It is only a “loss” IF they cash it out. Then they amplify the loss by paying the taxes and penalty on what is left.
The number one rule in investing is NEVER sell low.
Unless you are retiring next year, you probably have time to make the money back and then some.
My only fear is if my husband dies as his 401 is all I have to put a roof over my daughters head. But, such is life.
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No. It WILL turn around in a years time most likely. Taking it out now is just losing money due to the penalty.