The Dow plummeted 1,000 points at the open on Monday, taking a significant amount of 401(k) plans with it. Are you freaking out over your funds?
The Dow Jones Industrial Average dropped more than 1,000 points on Monday, affecting millions of Americans’ 401(k) plans.
According to CNN, Monday morning was a rough start to the week on Wall Street when minutes after the opening bell, the Dow plummeted 1,089 points. The largest loss ever during a trading day proved to be a direct result of the economic slowdown in China.
Although there was an attempt to bring the Dow back to positive territory, the Dow closed Monday with a loss of 588 points, the worst decline since August 2011.
Many Americans are worried about where there 401(k) stands and how their money will ultimately be affected. Many have chosen not to even look at their accounts while others are thinking about what they can do to protect themselves.
Where do you and your 401(k) stand on the matter? Are you worried about your money or riding the wave until things get better? Let us know.
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