The market is volatile and my current portfolio is down not by much, but to the level of being unpleasant considering this is my savings. I haven't been in the firm for a year yet, so no matching either.
Should I stop the contribution right now until the matching kicks in? (hold as cash, bonds etc.), or keep contributing for the tax benefit?
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Honestly I would keep investing, u get the tax benefit and imo (take this with a grain of salt) you would be in a good spot by getting some stocks for 10-15% off (assuming market doesn't crash). Worst case scenario you gotta wait it out, keep buying and wait for the market to recover so you have gains as well as your tax break. No point on holding on to cash when inflation is running rampant, with that ideology your portfolio could be down 7% and you'd still be better off buying the stocks and bonds.
Unless you know you are about to make a big purchase and need cash (don’t know why you’d buy a house or car right now anyways).
How much cash is in the business?
Dude of course.
you should be able to allocate your 401k contributions to a money market fund or something if you dont want to hold equities...
that said assuming you are under 50 no reason you shouldnt just buy equities for the long term, stop trying to time the market
And can we just acknowledge that this advice is coming from a man with the account name of arbjunkie
I mean I rolled my 401k into an IRA so I could yolo it into SPY calls and day trade GME, but I don't suggest anyone else do that LOL
Keep buying and continue to contribute/raise your contributions over the years.
Never try to time the market, if the best hedge funds in the world can’t time the market accurately, you will never be able to.
Try to remember you won’t touch this money for 40 years, so who cares what it does for the next decade or so.
I understand how sickening it is to keep contributing, my 401k is down like 250k this year, but just try not to look at it.
I am curious how all those FIRE people are feeling right about now.
They living on ramen and lamenting the fact they thought there was such a thing in this world as a free lunch.
Definitely don’t stop.
You are buying “low”
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