Saving With 6abc
Saving with 6abc: Dealing with 401k jitters
June 24, 2013 (WPVI) -- How to save your nest egg when the stock market takes a fall.
If you checked your 401k over the weekend and considered pulling your investments out of the game because of the rocky ride Wall Street's been on, financial experts say take a breath and think twice.
1. Do Not Sell in a Panic: Advisors say it's smarter to stay the course and that fleeing the market now is one of the last things you should do.
2. Read Between The Headlines: Many retirement accounts are invested in a mix of assets based on your age, which means that the effects on your portfolio may look different from the headlines.
3. Be in it for the Long Haul: Experts say daily market fluctuations, even those as drastic as Thursday's plunge, will ultimately be overshadowed by long-term market gains. The Dow, S&P 500 and NASDAQ may be down now, but they are all still up more than 10% from last year.
4. Remember the big picture: They say 401k investors who continually invested over the last 10 years saw their average account balances grow by about 17%.
lifestyle, wall street, economy, stock market, saving with 6abc
Also SeeStory:Coupon codes: Check here before you checkout
More:Get the Latest Saving with 6abc Tips of the Day
- Vietnam spots oil slicks in missing Malaysian jet 1 min ago
- Finally, a nice weekend!
- Get the 6abc StormTracker app
- WATCH: Action News Online
- Police: Bucks Co. mom arrested for Walmart theft 58 min ago
- 5 wounded and hospitalized in Trenton shooting
- Pa. Trooper's pregnant wife killed by gun discharge
- Pedestrian killed in Collingdale hit-and-run
- 2 arrested, 1 sought after cop hit by car in Delco
- West Philadelphia body ID'd as missing woman
- Boyfriend arrested in Gloucester Co. murder
- Chaput, Nutter, Corbett announce Vatican trip
- UPenn's Foal Cam gives LIVE view into horse's birth
- Photos: $3.25M summer home in Ocean City, NJ
- Vietnam spots oil slicks in missing...
1 min ago
- Police: Bucks Co. mom arrested for Walmart...
58 min ago
Saving with 6abc Links
Most Viewed StoriesMost Viewed Photos