What are the chances? I retire and the stock market crashes. All my plans are upside down. What do I do with my 401(k) now? The Moneyist answers:
I’m due to retire in two months and I have already moved to my new home in the sun. I have not sold my apartment in a major U.S. metropolitan area on the east coast, as I wanted to see how I settled into my new life. It’s a quiet, but beautiful city on the west coast, and I wanted to see how I adapted to both the year-round sunshine and the slower pace of life. It has been a long road, but I have finally got here. I am finally able to relax. Or that’s what I thought.
You’ve made a lot of changes already. I can see how exciting and impatient you are to get going on the renovation, but the pause may be a blessing in disguise. You may feel that by the time the market recovers — and it will recover, eventually — that you don’t need to move walls, or upend kitchens and bathrooms. Sometimes, a pair of glass sliding doors in the kitchen can work wonders, and bring the garden and all that extra light inside your home.
There’s no sugar-coating this. It’s not a great time to hand over the keys to your office, and finally put away your stapler. The Dow Jones Industrial Average DJIA, -0.39% is down 12% since January and the S&P 500 SPX, +0.01% is down 16% and the Nasdaq COMP, -0.30% is 26% lower over the same period.
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