How can you protect your 401k from a stock market crash? What about all your retirement investments when the stock market crashes. Let’s talk about 5 ways you can protect your retirement investments, retirement savings, 401k, IRA, Roth IRA, and other retirement assets from a stock market crash.
1. Diversify Your 401k and Retirement Investments
Make sure you are diversified inside of your 401k and other stock market and retirement investments. Look at how you are invested and ask yourself, is this diversification? Does your 401k offer multiple investment options? Is your 401k invested in multiple mutual funds or are all your retirement investments invested in a single mutual fund?
2. Build a Cash Hedge for Retirement Income
Are all your retirement investments in 401k’s, IRA’s, or Roth IRA’s? If so, you don’t have much flexibility in your retirement income. Begin creating a bucket of money that is outside of retirement accounts that you can access whenever you want without penalty. This will give you the flexibility in retirement to create retirement income from another source when the stock market is crashing.
3. Have a Retirement Plan & Retirement Income Plan
I believe a retirement plan and retirement income plan are the KEY to surviving a stock market crash and protecting your 401k. How many months do you plan vacations or important moments in your life. Retirement should be the same BUT even more important. You need a retirement income plan for moments when the stock market crashes. You need to understand how your retirement assets are protected or not protected when the stock market crashes. You can contact us here (https://calendly.com/pearlwealthgroup/discoverycall) to start building your personalized retirement income plan. Another way to protect your 401k from a stock market crash is to build a retirement income plan. You can visit our blog here to learn how.
4. Continue Contributing to your 401k and Retirement Investments
Don’t let stock market crashes or stock market volatility keep you from investing in your 401k and retirement investments. Are you planning on retiring at 50? Asking Can I retire at 55? Then you need to continue investing in your 401k in all stock market environments especially a stock market crash.
5. DON’T PANIC
This is the most important point. DON’T PANIC! The stock market will go up and the stock market will go down. We will see the stock market skyrocket and see the stock market crash. Throughout your retirement and retirement planning, the stock market will move in all sorts of directions. DON’T PANIC! Stay focused on your retirement goals and retirement planning.
Here at Pearl Wealth Group, we run a trademarked retirement investment and retirement income plan for individuals and families who are wanting to retire called “Your Financial EKG™.” What we are trying to visualize is how long a persons retirement savings are going to last throughout their retirement. If you are looking for early retirement planning tips or trying to save for retirement, You Financial EKG™ is a great tool to help you understand where you are in your retirement planning. Retirement planning and retirement income strategies shouldn’t be complicated. They should just be done right.
**To schedule your virtual retirement and investment consultation with Drew, please select a day & time that works best for you: https://calendly.com/pearlwealthgroup/discoverycall ** ☎️
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❌ **Please make sure you talk with your CPA, Financial Advisor, Retirement Planner, or Investment Advisor Representative, before implementing any content from this channel. All videos are for informational and educational purposes only. None of the content, comments, responses, information, or any other item on this channel constitutes financial advice or recommendations. Please call Pearl Wealth Group at 813-807-5060 to go through your Retirement Income, Retirement Investments, or Retirement Plan in more detail.** ❌