WAUKESHA -- The Dow Jones Industrial Average dove 13 percent Monday. It was the worst drop in three decades, as fears deepen that the coronavirus will throw global economy into recession.
We connected with a financial adviser with Drake & Associates about what she is advising her clients to do right now with their retirement accounts.
"Trying to hold the course if they can," said Wendy Peperkorn with Drake & Associates.
Julia Fello with TMJ4 News replied, "So, you're saying don't remove the money [from 401K accounts]?"
She replied, "If they have the stomach for it. Try not to. It's hard to lock in those losses at this point. That's something you really don't want to do if they don't have to," said Wendy Peperkorn, Drake & Associates.
As always it is important to talk to your own financial adviser for the best advice for your situation.
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March 17, 2020 at 06:32PM
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Try to resist taking money out of your 401(k) during the coronavirus pandemic, Waukesha financial adviser says - WTMJ-TV
"try" - Google News
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