I am 52 years old. I have $22,000 in my 401(k) plus $10,000 in an IRA, and that’s all of my retirement savings. My quarterly 401(k) statement showed a loss of $2,000. I can’t afford to lose that much. My money is divided among UBS International and four T. Rowe Price funds: Balanced, Equity Income, New Horizons and Summit Cash. Should I do anything? I am terrified.
The first quarter was a rotten one for most markets. Your portfolio took a big beating because you effectively have 75% of your investments in stocks. Unfortunately, this kind of setback occurs frequently. Since 1926, the U.S. stock market has lost money in roughly one year out of every four, on average.
Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
To continue reading this article
please register for free
This is different from signing in to your print subscription
Why am I seeing this? Find out more here
-
Stock Market Today: Stocks Pop Then Drop After Fed MeetingStocks went on a roller-coaster ride after Fed Chair Powell said interest rates were likely at a sufficiently restrictive level.
-
Fed Holds Rates Steady at 23-Year High: What the Experts Are SayingFederal Reserve The Federal Reserve struck a dovish pose even as it kept interest rates unchanged for a sixth straight meeting.
-
Rising Interest Rates, Falling Bonds and a Possible Way Forwardannuities Bonds aren’t offering the stability they used to, so if you’re looking for an alternative, here’s one possibility to consider.
-
Yes, You Can Have Too Much CashFinancial Planning A sizable hoard is comforting but could crimp long-term portfolio gains.
-
We Exited the Stock Market the Day Before the Pandemic Was Declaredinvesting How we knew to sell, why we think it was smart, and what you can do now.
-
5 Top-of-the-Line T. Rowe Price Mutual Fundsmutual funds T.
-
Getting Out of an RMD Penalty
retirement When your brokerage firm miscalculates your required minimum distributions, you have recourse.
-
Borrowers Get More Time to Repay 401(k) Loans
retirement If you leave your job while you have an outstanding 401(k) loan, Uncle Sam now gives you extra time to repay it -- thanks to the new tax law.
-
It’s Not Too Late to Boost Retirement Savings for 2018
retirement Some retirement accounts will accept contributions for 2018 up until the April tax deadline.
-
How Your HSA Can Reimburse You for Medicare Premiums PaidMedicare Even if your Medicare premiums are automatically deducted from your Social Security check, you can take tax-free withdrawals from an HSA to reimburse yourself.
