With a rapidly changing market comes the need to rebalance your portfolio to ensure you maintain your desired asset allocation. Volatile markets and global economic crises don’t happen every day, but they have certainly impacted investors’ portfolio balance in recent weeks. Regardless, it’s best for the long-term growth of your portfolio if you commit to regular rebalancing.
If you have been watching the markets’ response to the recent worldwide Coronavirus outbreak (COVID-19), you may wonder about the status of your investments. There’s no question that this health scare has had an impact on the markets, both in terms of stock prices and the recent bond rate slash by the Federal Reserve.
If your defined contribution retirement plan (e.g., 401k, 403b) offers the option for participants to withdraw funds through a hardship distribution provision, you should be aware of recent changes proposed by the IRS.