Taking from your 401 and other investment
May 26, 2020
M I’m Miriam Neff-with STARTING OVER FINANCIALLY,-and I’m Valerie Neff Hogan, and we’re here to talk about money.
M These days of uncertainty have some looking at their investments. Many have some funds in 401K’s and portfolios. Let’s look at those retirement accounts first. General recommendations from many experts are to shrink your spending plans rather than take funds from that retirement fund even if penalties have been postponed or lifted.
V We do not know when this downturn will be over. We do know that we have recovered every bear market in history. We also know that contributions this year have great potential to grow in the future. Scripture says prepare for, and don’t deplete what is needed for the future.
M While we don’t make specific recommendations, we can look at history, observe the trends, not take from the future, and not panic.