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re: Paying Down Debt Vs Saving
Posted on 2/6/16 at 2:08 pm to gobuxgo5
Posted on 2/6/16 at 2:08 pm to gobuxgo5
Selling your 401k now would be a terrible idea. You haven't lost any real money; it's paper loss. The number of shares you have are still the same. Unless u sold your funds to cash, which is just as bad.
Buy low, sell high. Not sell low, buy high.... If you have 10+ years to retirement you should really welcome these downturns. This lets you buy more shares per dollar. As long as you're up at the end the short term means nothing.
If you really must, either reduce or stop your 401k contributions for now, but leave the funds in place to give them a chance to recover and grow. Though you need do at least the minimum for the company match as that is free money.
Buy low, sell high. Not sell low, buy high.... If you have 10+ years to retirement you should really welcome these downturns. This lets you buy more shares per dollar. As long as you're up at the end the short term means nothing.
If you really must, either reduce or stop your 401k contributions for now, but leave the funds in place to give them a chance to recover and grow. Though you need do at least the minimum for the company match as that is free money.
This post was edited on 2/6/16 at 2:13 pm
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