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re: Stopping the 401k bleeding. Long
Posted on 3/1/23 at 7:46 pm to CajunTiger92
Posted on 3/1/23 at 7:46 pm to CajunTiger92
quote:
Sounds like your risk tolerance is at "zero" right now. Usually it is best to go to money market funds when that's the case until you can figure out the next step. The good news is money market funds are paying around 4.5% +/-.
Going to money market funds when your risk tolerance is zero after you’ve already lost 20-30% is why most people are woeful at making money in their 401ks.
1
Posted on 3/2/23 at 4:42 am to slackster
quote:
Going to money market funds when your risk tolerance is zero after you’ve already lost 20-30% is why most people are woeful at making money in their 401ks.
He’s 60 years old and will be retiring soon. If he was in his 30s it would be a different situation. In the short term, the risk to reward is not there in this market, IMO.
For the average investor, particularly at his age, the goal for this type of market is to not lose money. If It was clear that we were out of the woods on this bear market, I may have tried to change his mind on risk tolerance.
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