U.S. News and World Report: 8 Rules for Managing Your 401(k) in a Recession
Dylan Telerski / 30 Aug 2019
Worried about your retirement savings during a market downturn? You’re not alone!
Although history has shown time and again that the stock market increases over the long-term, it’s common to be concerned about your 401(k) when the market fluctuates wildly in the short-term.
Retirement experts, including Ubiquity Retirement + Savings founder and CEO Chad Parks, gave their insights in on ways to better manage your hard-earned 401k plan during a recession or period of market volatility:
- Pay attention to asset allocation.
- Maintain the pace on contributions.
- Don’t jump the gun on withdrawals.
- Look at the big picture.
- Gauge cash needs wisely.
- Avoid taking a loan from your plan.
- Actively look for bargains.
- Keep risk capacity in sight