‘What are the chances? I retire and the stock market crashes. All my plans are upside down.’ I want to draw on my 401(k) to renovate my new home. What options do I have?

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What are the chances? I retire and the stock market crashes. All my plans are upside down. What do I do with my 401(k) now? The Moneyist answers:

I’m due to retire in two months and I have already moved to my new home in the sun. I have not sold my apartment in a major U.S. metropolitan area on the east coast, as I wanted to see how I settled into my new life. It’s a quiet, but beautiful city on the west coast, and I wanted to see how I adapted to both the year-round sunshine and the slower pace of life. It has been a long road, but I have finally got here. I am finally able to relax. Or that’s what I thought.

You’ve made a lot of changes already. I can see how exciting and impatient you are to get going on the renovation, but the pause may be a blessing in disguise. You may feel that by the time the market recovers — and it will recover, eventually — that you don’t need to move walls, or upend kitchens and bathrooms. Sometimes, a pair of glass sliding doors in the kitchen can work wonders, and bring the garden and all that extra light inside your home.

There’s no sugar-coating this. It’s not a great time to hand over the keys to your office, and finally put away your stapler. The Dow Jones Industrial Average DJIA, -0.39% is down 12% since January and the S&P 500 SPX, +0.01% is down 16% and the Nasdaq COMP, -0.30% is 26% lower over the same period.

 

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There's a worker shortage, now's your chance to recoup everything

Postpone retirement or go to Mexico

Cash in everything you have and put it all into Bitcoin .Your future is now.

Km .. . ......

Leave your 401k wherever it is and start working your butt again…

Buy a jet ski and have fun 🤩

It hasn’t crashed, only dipped. Your money manager/ planer sucks. I’m down but not in the territory of crash losses.

First thing. You must fully comprehend that your gains pre retirement were strictly due to artificially inflated prices brought to you by the FED and Wall Street shenanigans. Second thing, revert to the first thing …..

Most Americans live paycheck to paycheck. My guess is this fella will need to go back to work. Most Americans will have to delay their retirement.

With inflation the way it is (and will be going forward), this guy will have to go back to work 👽

I ALWAYS learn something when I read your articles and you’re pretty witty too. You’re my writer/journalist crush.😄💕😄. It takes a lot for me to crush/fawn over public figures. 🥰🥰👊🏽😉.

Really … no tears here , stocks do go down 😂😂

lol cmon

give it to me.

Is there nowhere else you can Invest? Hope All is Taken Care Of!

Also advise them to not vote for a Socialistic agenda, such as the current administration. They were forewarned

Convert your 401(k) into Algorand.

Why would a retired person have their portfolio tied to stocks?

Lol..this isnt the crash. Buckle up & learn to love cat food

Nothing, unless you plan on dying in the next 12 months. It will recover.

should probably just throw it away and start over fresh

Give up the lattes and avocado toast. Pull yourself up from your bootstraps

Stay alive longer

Stock market hasn't crashed dumb dumb.

clickbait- nobody has a probable solution, except keep your income stream

In 1987 the Dow went from 2,700 to 776. The 2008 recession had a drop from 14,000 to 6,500 over 18 months. So far the Dow has gone from mid 30k to low 30k or about 4% loss. It’s not good news but hardly reason to panic or make radical changes to life plans.

Go back to work then, you all voted for this this collapse because Rachel Maddow convinced you a lie was true. She probably got richer shorting the market with Soros.

😂😂boomers rekt

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