I didn’t become fixated on the market losses until much later on in my career. The investment advisors all said the same thing. "Stay on course!" or "You're in it for the long-haul!"
Like most people, I put all my faith in my 401K’s and 403B's thinking that my savings were safe and secure... and then I faced my first big market crash!
In a matter of weeks, my retirement savings were set back a decade. I became consumed with stress, shock, and anger!
I thought I was doing everything right.
How could this happen?
Where were the stop losses?
How could a retirement savings plan go into a complete free fall with no way to stop it?
What would happen if I was near retirement and this happened?
The honest truth is, I just wasn’t aware of the risks and limitations associated with my 401K plan. My HR department was clueless and the fund managers sounded like a broken record when it came to "the long haul" or "you have plenty of time to make it up."
It was a helpless feeling! I was determined not to put myself in that position again, so I educated myself on the benefits and risks of pre-tax retirement savings plans. I made the decision not to be one of those people who simply takes it on the chin and soldiers on. I wanted control because in the end, you are truly on your own when it comes to your retirement savings.
Unless you’re one of the rare individuals who has taken the time to really look into your retirement plans and all the ways you can actually lose your hard-earned money…
… This will end up being one of the most informative calls of your life!
By the end of this call, it’s my goal to make sure you walk away with a better understanding of how your plan works, where the risks are, and what options you have available to protect yourself from losses that you may not have time to recover from.