‘What are the chances? I retire and the stock market crashes. All my plans are upside down.’ I want to draw on my 401(k) to renovate my new home. What options do I have?

  • 📰 MarketWatch
  • ⏱ Reading Time:
  • 39 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 19%
  • Publisher: 97%

United States Headlines News

United States Latest News,United States Headlines

What are the chances? I retire and the stock market crashes. All my plans are upside down. What do I do with my 401(k) now? The Moneyist answers:

I’m due to retire in two months and I have already moved to my new home in the sun. I have not sold my apartment in a major U.S. metropolitan area on the east coast, as I wanted to see how I settled into my new life. It’s a quiet, but beautiful city on the west coast, and I wanted to see how I adapted to both the year-round sunshine and the slower pace of life. It has been a long road, but I have finally got here. I am finally able to relax. Or that’s what I thought.

You’ve made a lot of changes already. I can see how exciting and impatient you are to get going on the renovation, but the pause may be a blessing in disguise. You may feel that by the time the market recovers — and it will recover, eventually — that you don’t need to move walls, or upend kitchens and bathrooms. Sometimes, a pair of glass sliding doors in the kitchen can work wonders, and bring the garden and all that extra light inside your home.

There’s no sugar-coating this. It’s not a great time to hand over the keys to your office, and finally put away your stapler. The Dow Jones Industrial Average DJIA, -0.39% is down 12% since January and the S&P 500 SPX, +0.01% is down 16% and the Nasdaq COMP, -0.30% is 26% lower over the same period.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

There's a worker shortage, now's your chance to recoup everything

Postpone retirement or go to Mexico

Cash in everything you have and put it all into Bitcoin .Your future is now.

Km .. . ......

Leave your 401k wherever it is and start working your butt again…

Buy a jet ski and have fun 🤩

It hasn’t crashed, only dipped. Your money manager/ planer sucks. I’m down but not in the territory of crash losses.

First thing. You must fully comprehend that your gains pre retirement were strictly due to artificially inflated prices brought to you by the FED and Wall Street shenanigans. Second thing, revert to the first thing …..

Most Americans live paycheck to paycheck. My guess is this fella will need to go back to work. Most Americans will have to delay their retirement.

With inflation the way it is (and will be going forward), this guy will have to go back to work 👽

I ALWAYS learn something when I read your articles and you’re pretty witty too. You’re my writer/journalist crush.😄💕😄. It takes a lot for me to crush/fawn over public figures. 🥰🥰👊🏽😉.

Really … no tears here , stocks do go down 😂😂

lol cmon

give it to me.

Is there nowhere else you can Invest? Hope All is Taken Care Of!

Also advise them to not vote for a Socialistic agenda, such as the current administration. They were forewarned

Convert your 401(k) into Algorand.

Why would a retired person have their portfolio tied to stocks?

Lol..this isnt the crash. Buckle up & learn to love cat food

Nothing, unless you plan on dying in the next 12 months. It will recover.

should probably just throw it away and start over fresh

Give up the lattes and avocado toast. Pull yourself up from your bootstraps

Stay alive longer

Stock market hasn't crashed dumb dumb.

clickbait- nobody has a probable solution, except keep your income stream

In 1987 the Dow went from 2,700 to 776. The 2008 recession had a drop from 14,000 to 6,500 over 18 months. So far the Dow has gone from mid 30k to low 30k or about 4% loss. It’s not good news but hardly reason to panic or make radical changes to life plans.

Go back to work then, you all voted for this this collapse because Rachel Maddow convinced you a lie was true. She probably got richer shorting the market with Soros.

😂😂boomers rekt

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in US

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Florida Rep. Donalds introduces Financial Freedom Act companion bill in the HouseA companion bill has been introduced in the U.S. House of Representatives allowing cryptocurrency to be included in self-guided 401(k) accounts. There is no substantial reliance on virtual currencies, and this practice is not worth a big push. For example, what if you have $100,000 in your 401k account and it becomes $50,000 when you retire Bitcoin ETH No matter the price bitcoin will always be my store of value
Source: Cointelegraph - 🏆 562. / 51 Read more »

S&P 500 falls into bear market, joins NasdaqThe broadest measure of the U.S. stock market entered a bear market on Friday. The bull will wake up soon. Funny that sanctions on the Russian Bear caused this bear market. Big ole Bear too... Covid panic was anomalous.... this is the 'big one' pullback that was long overdue after the decades long, Fed-fuled bubble post-2008. This one is just getting started... get used to the idea of 1850 on the S&P 500.
Source: FoxBusiness - 🏆 458. / 53 Read more »

Nancy Armstrong Sheds Light on Upside of ADHD in 'The Disruptors' DocumentaryNancy Armstrong sheds light on the upside of ADHD in new documentary, titled 'The Disruptors.' I really hate when people try to frame it as a superpower. It affects every single aspect of your life. And being an over 40 year old who has to take meds just to function, isn’t an asset ever.
Source: TMZ - 🏆 379. / 59 Read more »

Court finalizes new NY congressional, state Senate mapsNEW: A court-hired mapmaker finalized New York's congressional districts and state Senate districts just after midnight on Saturday, putting them in place for the next decade barring any further lawsuits. gothamist JonCampbellNY article is painfully unclear on scale of GOP FU to democracy in NY state redistricting so US wide Congress. Article needs plenty of art & maps & show 2012-2021 seats & where each incumbent is running now in 2022-2031, because it is utter (JimCrow) chaos.
Source: WNYC - 🏆 602. / 51 Read more »

The Chevrolet Chevelle muscle car is back in a bizarre wayTrans Am Worldwide has unveiled a new model called the 70/SS that was inspired by the 1970 Chevrolet Chevelle SS muscle car and is based on a new Chevrolet Camaro. Hold on Ukrainians!The whole world is behind you! 'People. In the place of Ukraine, your country could have been!' Let's unite in helping the Ukrainians, all who are not indifferent. Help you too. I beg you! There is a genocide of the people of Ukraine! Looks heavy
Source: FoxNews - 🏆 9. / 87 Read more »

Rihanna planning surprise move to Barbados to raise baby son in her home countryRihanna, who gave birth last week, is expected to stay in Los Angeles for three months before moving to the Caribbean isle of Barbados with her son and his rapper dad, ASAP Rocky, 33
Source: Mirror Celeb - 🏆 476. / 51 Read more »