Posted By Paul
An article where the author (Walter Updegrave, Money Magazine senior editor) explains why he thinks that you shouldn't let the current economic crisis keep you from investing in your 401k:
Don't let the crisis spook your 401k
The whole article is worth a read, but here are a few specific excerpts:
"In fact, I think it would be a mistake for virtually anyone, regardless of age, to forego saving for retirement in a 401(k) or similar account in reaction to the recent failures, takeovers, freefalls in stock prices, etc."
"I believe that the best way to deal with the inherent uncertainty of investment markets is to settle on an asset allocation that makes sense for you and, aside from rebalancing back to it once a year, pretty much leave it alone (or at least refrain from making big changes)."
This blog contains some simple tips and advice from two regular guys. We're not accountants, financial advisors, or brokers, so follow, ignore, or discuss our ideas as you see fit.