The stock market just tanked. Here's what to do with your 401(k)

One key thing to consider as you’re evaluating your 401 and other investments in turbulent times is how soon you will need the money.

While the returns on those investments are lower, you also don’t have the risk of losing 20 to 30 percent of your money, he said.When making decisions as to what actions fit you best, your age is a key factor to keep in mind. Financial advisor Marguerita Cheng, CEO of Blue Ocean Global Wealth in Gaithersburg, Maryland, said she encourages investors to allocate their investments in buckets.

That means you want to keep contributing to your 401 or other retirement funds, where you’ll be dollar-cost averaging, or buying investments on a fixed schedule, Cheng said.

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