What the fuck. You’re panicking because stocks are going down and you’re all of a sudden considering what a 401k is and what equities are when you “lose” 10k in a day? How do you invest $100,000 in your retirement vehicle and not even consider how or why it works?
I’ve seen too many people think the market going down 5% in a day means they’ve lost that money from their 401k forever. First of all, all portfolios should be balanced for what you can handle. Risk should be measured and if you’re retirement age you need to heavily pad with bonds for situations such as this. Secondly, the money isn’t “lost” until you sell. Yes, the market can go back up and life will go on. But you should know this BEFORE investing thousands of your earned money.
Let this be a warning to anyone else — READ what you’re buying. Read the prospectus. Read from investing thought leaders. Understand the different approaches. THEN invest.