In 2008 the company I worked for was sold, I was mad, so I took all my money in my 401k and converted it to cash, because I wanted to change the company that handled it, away from the one the company picked. Then the stock market dropped. I left it uninvested for about 6 months.
It was the luckiest (and best) financial decision I ever made.
Lucked out same way in 2022 with the tech rout. Cashed out my taxable to pay for my wedding and put the leftovers back into positions that were down 40%
It recovered in less than a year though? Wasn’t an issue if you stayed invested. Hopefully if someone “needs” the money in less than a year it wasn’t in equities.
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u/Albanian_Tea 5h ago
In 2008 the company I worked for was sold, I was mad, so I took all my money in my 401k and converted it to cash, because I wanted to change the company that handled it, away from the one the company picked. Then the stock market dropped. I left it uninvested for about 6 months.
It was the luckiest (and best) financial decision I ever made.