Roughly $11.1 trillion has been wiped away from the U.S. stock market since Jan. 17, the Friday before President Donald Trump took the oath of office and began his second term, according to data from Dow Jones Market Data.
Some $6.6 trillion of that figure was lost on Thursday and Friday alone — the largest two-day wipeout of shareholder value on record, Dow Jones data showed.
It’s a 401k. I can’t move my money out of it without taking a tax penalty.
Bro he literally said the tax penalty is less than his loss
L2Read.
So your 401k is just a single fund and that’s it?
That sucks bro
Yes there is a tax penalty. as I said in the original comment.
However, that tax is less than the amount lost since December. As I said in the original comment.
No it is not. Tax rate is ~20-30%. Market has dropped 10% since November. What is this batshit advice?
Just move it to stuff that guarantees 40% plus. 2ez. git gud. /s
I’m not familiar with 401K as I’m not from the US but do you really lose anything when the market dips? Because I don’t think you do unless you start selling at a loss. If you’re not planning on retiring in few years this shouldn’t affect you in any way.
It’s the same as any other non-liquid asset. Sure, you could argue that the value dropping is only a loss if you sell during the dip, but you’re still better off if you can sell before it happens.
I don’t really see how you’re “better off” unless you then go and buy the dip too. If your retirement is decades ahead then simply holding and buying is what will very likely be the best bet on a long term. Historically speaking so far this has been the case. Reacting to short term events is how people lose their savings on the stock market.
That’s correct. If you are far from retirement just hold. I could have sold high if I timed it and bought it when low, but it’s impossible to know when the best time is to re-enter the market. As it stands my Roth and other investments will continue to pay dividends that then go directly back into buying more stock. I’ll end up buying the dip without actually spending money.
My 401k is through work and my 403b is through my old work. Investments through work places have some option, but generally you don’t get to decide other than what percentage of bonds and US stock. Some will separate foreign stock, just depends on the broker.