Why this could be the 'best time' to contribute to a retirement plan, according to an advisor
Publishing timestamp: 2023-03-16 12:47:18
Summary
Retirement 401(k) account balances have taken a significant hit, but this makes it the best time to invest through dollar cost averaging. Despite fears of a banking crisis, down markets provide an opportunity to buy shares at a lower price. Many older Americans are concerned about their retirement security, while younger investors may be experiencing their first prolonged downturn. Experts advise increasing 401(k) contribution percentage to 15%.
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Keywords: life, kevin barry, inflation, fidelity national information services inc, 401(k) plans, investment strategy, personal finance, markets, business news, retirement planning, individual retirement accounts, louis barajas, economic events, american vanguard corp, personal saving, winnie sun,