I was laid off in Dec 2024, I kept my 401k intact there and had planned to roll it over to my next employer's plan once I found another role. I haven't been successful in landing a new job yet. I was notified a few days ago that my former employer is closing up shop and I MUST take a distribution from my 401k by end of April. What horrific timing with markets about to go negative for the near future.
I'm looking for suggestions on how to minimize loss. I would never ever choose to sell during a downturn so this is throwing me for a loop and I can't quite figure out a strategy.