WICHITA, Kan. (KSNW) – With a market slide, some are asking if they should make changes to their 401(k) or other investments in the markets.
KSN News asked the money pros.
“Don’t panic. Do not sell your 401(k),” said George Hornbeck, a wealth advisor with Ad Astra Financial Group. “I don’t think that this is a bubble. We are seeing huge market declines so far this year. But this is on the tail end of a really good market over about the last five years, so I think it’s time to pay the piper, so to say.”
Hornbeck is quick to point out market dips follow market bulls, and there will be a bull run again.
“And remember that the investment objectives of that 401(k) when you started were typically for the long run,” said Hornbeck.
Others say we are in a market dip now. And there may be a second dip on the way with record inflation.
“It will be frustrating for all investors. Things will get more affordable,” said Dr. Jim Long, Friends University division chair of business.
“And you’ll see some negative returns on your investing,” continued Long. “Just take a deep breath. Over the course of every seven years, you are almost certain to make money.”
If you see a dip in your 401(k), the money people say you should talk to an advisor and see where your money is invested. They also say now is maybe not the time to sell.
“Yeah, I would say this is a great time to continue investing. Investing wisely,” said Long. “Stuff is on sale. It’s cheaper.”