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re: Stopping the 401k bleeding. Long
Posted on 3/2/23 at 4:42 am to slackster
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.
1
Posted on 3/2/23 at 6:23 am to CajunTiger92
quote:
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.
Even so, the middle of a bear market is not a great time to make that determination. If you go to stable value now, you’re almost certainly not getting back into bonds or the market until the coast is clear, which means the market is probably higher by then.
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