The Expert Podcast

…Is your 401k fund. Looking like a…2 0 1 K fund is the…dollar amount going lower and lower. Well according to the wall street journal this has happened to a lot of people And the only solution they come up with is stop looking at it. Checking balances to frequency. When markets decline can lead to some bad decisions I…don't look at your 401k That's what they're saying Well, There may be some other answers besides that Obviously your 401k is an important asset for you. You put money into it over the last 5, 10, 20 years…Banking on the fact it's going to be there for you to retire. And be a powerful retirement tool for your safety and security and for your family security. If it's dropped quite a bit what do you do Well a lot of times it depends upon how close you are to retirement. And what's your money is in…The biggest question is what's going to happen in the markets going forward. Do you think the next three or four or five years they're going go down more. Is it going to bounce back…If you have money in a 401k this year 2022. Be aware that many laws are changing. About redemptions and withdrawals you may be able to take money out for, emergencies. Healthcare emergencies other emergencies more. conveniently than in the past. There's also changes in the age for mandatory withdrawal When you read…It's in the in the works for this year…Look the government put in place. The 401k program. To help the private sector support…Citizens in the retirement when…you know social security and other…government programs are dwindling very quick. And most companies don't have a formal pension plan. Some government agencies have pensions but even those are going away. So this 401k program. is a tax advantage program to help people. Put money away for retirement It's not just the tax. savings it's most employers match it…But if all that money is. Deteriorating, any evaporating quickly What do you do Well we're not investment advisors We're not trying to give you financial advice. It's more of looking at what your options are. The biggest question is what do you think is going to happen in the next two or three years ? Obviously if you sell. when it's low. In a bounces back up. You're gonna miss out on the backup. But if it's going to go down more. And you sell you could buy back in when it's low Again. Nobody knows the answer nobody knows. What's going to happen if they did then everybody would have a crystal ball…The question is…What does it do for your emotional wellbeing…Can you sleep at night knowing it's down in your money still in there. Do you need the money Are you going to need it soon ? Are there any other options for you…Are there real estate options…Checking your 401k is important You want to know what's in there You don't want to avoid it and stick your head in your sand. But making good investment decisions. Sometimes is…effected by the emotions you have when you look at that number. And it's not what it was two months ago.