4 ms·
The recessions only hollowed out 401ks if you liquidated at the bottom. If you held, the later gains made up for the losses and a lot more.
by TheCoelacanth 5y ago
The recessions only hollowed out 401ks if you liquidated at the bottom. If you held, the later gains made up for the losses and a lot more.
- chiph 5y agoAs the saying goes - time in market beats timing the market. I have a friend with a wealthy father who has never bought even a single bond share. He has stayed invested in equities his entire career and into retirement. He was already retired in 2008 - and the drop was a mere hiccup for him. He didn't panic-sell and just continued making his required minimum distributions like normal.
- guenthert 5y agoI think that greatly depends on what you invested in. E.g. the stock price of Citi bank hasn't recovered to this day.
- mrtweetyhack 5y agothat's a shit company to being with
- phendrenad2 5y agoA lot of people had to in order to keep their homes, cars, kids in college, etc.