035: How To Protect Your 401(k)

For many people, the 401(k) is one of the biggest parts of their retirement portfolios. In times of great uncertainty, and especially of market volatility, many want to know how to protect their most valuable assets. Especially after the Great Recession of 2008, it’s easy to want to make rash decisions. However, it is a great time to assess your overall risk and understand how best to protect your money - and yourself.  Everyone’s situation is different. There’s no one-size-fits-all solution to retirement planning, and every family likely needs to take different approaches and positions to ensure that they will be able to enjoy retirement on their terms.  Today, we’re talking about how to invest - or simply defend your portfolio - in times of volatility. You’ll learn about the unique factors that lead to market instability, how to understand your exposure to risk, and the important questions you and your advisor should be discussing as you create a 401(k) to meet your unique needs. In this podcast interview, you’ll learn:  How the COVID-19 pandemic, elections, and a wide variety of other factors can create wild market volatility. Why investing is more about how much money you’re willing to lose - and why you don’t benefit from looking at your account every day. Why you can’t make changes to your retirement accounts overnight - and why working proactively with your financial advisor will almost always lead to better outcomes. Show Notes To get access to today's show notes, including links to all the resources mentioned, visit TheRetirementTrainer.com/35 How Fit Is Your Retirement Plan?  We can help you manage your finances so you can pursue your goals. To learn more, visit EGSIFinancial.com

Episode 35 of the The Retirement Trainer podcast, hosted by EGSI Financial, titled "035: How To Protect Your 401(k)" was published on November 5, 2020 and runs 18 minutes.

November 5, 2020 ·18m · The Retirement Trainer

Summary

For many people, the 401(k) is one of the biggest parts of their retirement portfolios. In times of great uncertainty, and especially of market volatility, many want to know how to protect their most valuable assets. Especially after the Great Recession of 2008, it’s easy to want to make rash decisions. However, it is a great time to assess your overall risk and understand how best to protect your money - and yourself.  Everyone’s situation is different. There’s no one-size-fits-all solution to retirement planning, and every family likely needs to take different approaches and positions to ensure that they will be able to enjoy retirement on their terms.  Today, we’re talking about how to invest - or simply defend your portfolio - in times of volatility. You’ll learn about the unique factors that lead to market instability, how to understand your exposure to risk, and the important questions you and your advisor should be discussing as you create a 401(k) to meet your unique needs. In this podcast interview, you’ll learn:  How the COVID-19 pandemic, elections, and a wide variety of other factors can create wild market volatility. Why investing is more about how much money you’re willing to lose - and why you don’t benefit from looking at your account every day. Why you can’t make changes to your retirement accounts overnight - and why working proactively with your financial advisor will almost always lead to better outcomes. Show Notes To get access to today's show notes, including links to all the resources mentioned, visit TheRetirementTrainer.com/35 How Fit Is Your Retirement Plan?  We can help you manage your finances so you can pursue your goals. To learn more, visit EGSIFinancial.com

Episode Description