TSP 401K Losses - How To Survive Them

Struggling with TSP or 401k IRA losses? In this essential video, Charles offers expert advice on navigating these challenges with confidence. Discover the importance of having a well-thought-out financial plan to weather market fluctuations and secure your future.

In This Video:

0:09 Understanding the Importance of a Financial Plan: Learn how splitting your investments between income and growth can provide stability and mitigate risks associated with market losses.
0:35 Balancing Your Portfolio: Insights into how you can diversify your investments in stable income funds and growth-oriented stock market funds, avoiding unnecessary risks like penny stocks.
0:58 Staying Informed and Away from Drama: Charles emphasizes the value of having a plan and seeking advice from a fiduciary, helping you stay focused during market ups and downs without unnecessary worry.
1:34 Patton’s Wisdom on Planning: Reflecting on Patton's quote, Charles underscores the urgency of implementing a good financial plan now, rather than waiting for a perfect plan.
1:45 Take Control of Your Retirement Planning: Worried about the volatility of the stock market and its impact on your retirement plans? Charles guides you through understanding the market's nature and the importance of sticking to your long-term investment strategy for ultimate success.

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Engaging Titles (for the algo's):

How to Bounce Back from TSP and 401K Losses
Building a Resilient Retirement Plan in Uncertain Times
The Essential Guide to Surviving Market Downturns

Transcript

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How do you survive a TSP loss or a 401k IRA loss? Transcribed by

https: 0:06

otter. ai One of the keys is by having a plan, you get a plan in place. You may have money that's set up for income and then money that's set up for growth. You know, that's one of the big weaknesses of a TSP or 401k plan is that you can't split the money. So the money that's set up for income. You can split that in a privately held IRA. And then that money that's very stable, you don't have to worry about market losses and then the money that's for growth, if it's in reasonable investments in the stock market. Reasonable meaning, you know, S&P 500 stocks, possibly Russell 2000, but no penny stocks or crazy things like that. If you got it in there, then you can, as my friend used to say, stay away from the drama. You don't have to listen to the market watch and all that crazy ups and downs, because you've got a plan in place and you, if you seek the advice. of a planner, a fiduciary, and they're working for you, then you don't have to worry unnecessarily about what's happening to your plan, what's happening to your stock funds, because you've got a plan in place, your income funds are very stable. And then there's no anxiety there. What was it that Patton said a good plan executed now? Is better than a perfect plan executed next week? Yes, if you've got the plan in place, perhaps even sought the advice of a fiduciary, you should be able to rest assured and not be anxious and not make any emotional decisions where you want to yank your money. No, stay the course, knowing that the stock market goes like this. But it ends up here when it started down here going like this and that's what will bring you success