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

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.

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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).
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