401K’s took big hits in 2018


As we hit the final month of 2018, you might very well be looking at your 401K statements and wondering about all the money you made last year, and where it went.

That’s because most people took a hit this year after the dramatic gains we saw last year. But financial planner Derrick Kinney says how much of a hit you took might depend on what demographic you're in.

“Those workers closer to retirement age tend to be more conservative haven’t lost much money, but their accounts are still disappointingly lower than they were last year,” Kinney explained.

He adds that his younger clients that were more aggressive took bigger hits. So what can we expect from 2019? Kinney says it all depends on interest rates, the trade war, and the volatile political situation we have.

“All of that tends to be very volatile for investors. January, historically, has been a very volatile month for investors,” Kinney stated.

In other words, at least for the start of 2019, expect Wall Street to take you on a bumpy ride.

401k

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