401(k) Losing Money? Here's Why You Shouldn't Panic
It's been a rough week for stock investors as volatility rocked the market. If you've been peeking at your 401(k) plan balance, you may be seeing lower numbers than you'd like to. And that can be nerve-wracking.
But while it's certainly unsettling to see your 401(k) plan lose value, it's important not to panic or make any rash decisions. Here's why.
The purpose of saving money in a 401(k) is to amass a retirement nest egg. Now, if you're just a few years away from retirement, you'll need to be careful about going too heavy on stocks in your portfolio. But if retirement is decades away, then a blip like the one many investors are experiencing now shouldn't rattle you too much.
Source Fool.com
