401k losses
Since the Trumps tarriffs took effect i lost around 16,000 in my 401k , i am 2 yrs from retiring and cant afford to loos anymore should i take the remaining money out of my account and put into a savings or money market account, even tho the interest is low i cant afford to loose anymore money .
Terry Says
You don’t want to WITHDRAW from your 40lk plan, because that would involve paying taxes and losing all future tax-deferred growth of the money during your retirement.
Ask your plan advisor if there is a safer short-term bond fund inside the plan and move to that option.
