Knowledge and Insights
The full impact of the novel coronavirus pandemic to New Jersey and the world may not be known for months. As schools close, businesses shut down and people are urged to practice social isolation, the economic effects will be far reaching.
As individuals, we have a natural concern for our physical well-being, but many are also experiencing increased anxiety over their financial well-being. A bull market began in March of 2009 following the Great Recession. For many younger investors, it is the only market they have ever known.
We experienced consistent gains in our retirement and education savings accounts. Now, many have lost substantial value in those same investments. Stocks suffered their worst losses in 30 years this week, and if you’ve dared to look at your 401(k), the numbers are sobering.
Mercadien Asset Management President & Official Investment Adviser of NJ 101.5 Ken Kamen sat down with NJ 101.5 News Anchor Eric Scott, to talk about the impact of coronavirus on the economy, investments and what it means to dreams of a comfortable retirement.
Read more & watch the interview here – https://nj1015.com/what-to-do-when-your-401-k-catches-coronavirus/