This morning’s U.S. Government report on jobs was a complete disaster. The estimate was for a creation of about 115,000 new jobs in May. The number reported this morning was 69,000.
The real number versus the estimated number was not even close. These are the kind of surprises that usually lead to an acceleration of the current stock market correction.
Right now, every Minnesota company 401(k) retirement plan participant needs to stop and take a look at their current retirement plan account holdings.
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Company stock, fund of funds, and every possible combination of mutual funds will not be safe in the current stock market meltdown. Everything you currently own in your company retirement plan account should be reviewed now.
Determine the amount of risk you are willing to take in order to remain 100% invested in your company 401(k) retirement plan account. Ask yourself if you are willing to let more of your recent stock market gains disappear just for the sake of a “buy-and-hold” investment management strategy.
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The safety of your company retirement plan money market account is a good investment choice for the majority of company retirement plan participants now.
You are still likely at this time to have small year-to-date investment gains in your company retirement plan account. As the month of June unfolds, those gains are now more likely to fade away.
Emotionally, it is much easier to sell something you own at a gain than at a loss. Sell for a gain, take some of the risk out of your company retirement plan account, and begin to enjoy the Minnesota summer.