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You could hurt your future finances if you tweak your portfolio too often.
Here are five reasons you shouldnt make changes to your 401(k) when the stock market drops.
Also seehow long it takes to become a millionaire through your 401(k).
Contributing each paycheck to your 401(k) is a form of dollar-cost averaging.
You want to instead focus on making consistent contributions to your retirement fund.
Aside from that, even the very best investors cant time the stock market.
Whats important is to continue putting money into it.
When you panic-sell your stocks and holdings, you could make poor decisions that cost you money.
If the stock market drops, think of it as a sale.
The same investment you bought last month is 10% off this month, he said.
The good news is that these companies will likely bounce back in the long run.
Just set it and forget it.
Youll experience many recessions before retirement if youre still early in your career.
Various external factors, from geopolitical issues to challenges with natural resources, are out of our control.
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