19. Coronavirus & Your 401(k)

The coronavirus is now rattling our global markets. The Dow John Industrial Average plummeted over 1000 points or more than 4% in one day this past week as fiscal impact of the coronavirus is spreading. The losses mark the worst week for the Dow since the financial crash of 2008. According to ABC News reporter Catherine Thorbecke, “The sharp fall comes as public head officials warn that Americans should prepare for community spread of coronavirus in the U.S. and as companies warn investors of supply chain issues related to the outbreak.” The question on most pre-retirees and retirees minds are how could this impact their 401(k) and other retirement investments? In this episode of Retiring Today, we discuss the market volatility, is your nest egg safe, and what it could mean for your portfolio.