401(k) participants keep on selling during market downturns despite being told repeatedly to chill with long-term investments, according to a new report.
You would think people have learned to stay the course with their retirement accounts when the stock market gets shaky.A new report finds that 401 participants keep on selling during market downturns despite being repeatedly told to chill.
For the entire month of August, 20 of 22 days, people leaned into investing new contributions to fixed-income funds, according to the index, which tracks the trading activity of over 2 million people and details the monthly volume, asset flows, and market activity of accounts. Have a question about retirement? Personal finances? Anything career-related? Click here to drop Kerry Hannon a note.
With a target-date retirement fund, you select the year you’d like to retire and buy a mutual fund with that year in its name . The fund manager then divides your investment between stocks and bonds, fine-tuning that to a more conservative mix as the target date nears, or soon after. “With the help of diversification, a long-term investing strategy, periodic portfolio rebalancing, dollar-cost averaging, and avoiding market timing, investors have little to worry about,” Johnson added.
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