Coronavirus threat to 401(k)s: Some savers are making these big money moves investinyou (In partnership with acorns.)
It's been a roller coaster for the stock market, and that's certainly had an impact on investors' 401 accounts and other employer-sponsored retirement savings plans.
While most investors did not shun equity funds completely, nearly half of the 401 outflows were from target-date funds, and 29% were from large U.S. equity funds, according to Alight's data. T. Rowe Price also said it saw the greatest increase in activity last month in target-date funds of 401 participants who are in or near retirement.
The stock market rallied a bit in early April, but there's been a pause in those slight gains as turbulence continues. Financial advisors"You can't control the economy or the markets," said certified financial planner Tim Maurer of Buckingham Wealth Partners. "Focus on what you can control. Stay the course if you've got a well-conceived portfolio guided by a well-articulated financial plan driven by your deepest-held motivations in life.
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