What you should do with your 401(k) in a highly volatile market

📆 07/08/2024 13:48:00
📰 ABC7NY

⏱ Reading Time:
28 sec. here
12 min. at publisher
📊 Quality Score:
News: 50%
Publisher: 51%

401(K) News

Dow Jones,Nasdaq,Wall Street

If you're investing in a 401(k), daily market dramas are no reason to take dramatic actions with your portfolio.

Wednesday, August 7, 2024 12:41PMFor individual investors, the quick-turn global rout in stocks on Monday was unsettling, despite news Tuesday that stocks staged a rally.

Andy Smith, executive director of financial planning at Edelman Financial Engines, puts it this way: "Separate your emotion from your money. There will be days when the market is up and days when it's down. Focus on your time in the market rather than trying to time the market." As a 401 investor, the best thing you can do is to save as much as you can, diversify your holdings to minimize the risk and volatility in your portfolio, and rebalance your holdings if your chosen asset allocation gets too far out of whack, Smith said.

Write Comment

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

What short-term market volatility means for your 401(k)Widespread fears of a U.S. recession sent global markets tumbling Monday, with the Dow Jones Industrial Average falling by over 1,000 points in midday trading. Here's what it means for your 401(k).
Source: 10News - 🏆 732. / 50 Read more »