Retirement Unlocked

Should I Stop Contributing To My 401(k) During COVID-19? (and More Answers To Your 401(k) Questions) (Ep. 69)


Listen Later

Has your employer stopped matching 401(k) contributions during COVID-19? Do you wish you had more money for daily expenses?

If so, you might be wondering if you should stop contributing to your 401(k).

Today, Larry Heller explains why increasing your savings rate is one of the best ways to take back control during unsettling times. 

This episode is filled with advice to help you increase your contributions, focus on the long-term outcomes of contributing to your 401(k), and know whether it’s wise to withdraw early from your plan, even if the U.S. government is making it easy to do that during COVID-19. 

In this episode, you will learn:

  • Why you shouldn’t stop contributing to your 401(k)
  • Three ways to increase your contributions
  • How to know if you’re saving enough money in your 401(k) for retirement
  • What to look for when doing a portfolio check 
  • What to do with your 401(k) if you lose your job
  • What the downsides are of taking a hardship withdrawal
  • And more!
  • Tune in for complete advice on what to do with your 401(k)!

    Resources:  Heller Wealth Management: (631) 293-2806 | Episode 35: Your Retirement Paycheck | Video: How To Decide If a Roth Conversion Is Right for This Year

    ...more
    View all episodesView all episodes
    Download on the App Store

    Retirement UnlockedBy Larry Heller

    • 5
    • 5
    • 5
    • 5
    • 5

    5

    6 ratings


    More shows like Retirement Unlocked

    View all
    Money Guy Show by Brian Preston and Bo Hanson

    Money Guy Show

    3,224 Listeners

    The Stacking Benjamins Show by StackingBenjamins.com | Cumulus Podcast Network

    The Stacking Benjamins Show

    1,987 Listeners

    Allworth Financial‘s Money Matters by Allworth Financial

    Allworth Financial‘s Money Matters

    844 Listeners

    Sound Retirement Radio by Jason Parker

    Sound Retirement Radio

    444 Listeners

    Your Money, Your Wealth by Joe Anderson, CFP® & Alan Clopine, CPA of Pure Financial Advisors

    Your Money, Your Wealth

    807 Listeners

    Talking Real Money - Investing Talk by Don McDonald

    Talking Real Money - Investing Talk

    778 Listeners

    Money Tree Investing by Money Tree Investing Podcast

    Money Tree Investing

    679 Listeners

    Retirement Starts Today by Benjamin Brandt CFP®, RICP®

    Retirement Starts Today

    538 Listeners

    The Retirement and IRA Show by Jim Saulnier, CFP® & Chris Stein, CFP®

    The Retirement and IRA Show

    751 Listeners

    Big Picture Retirement® by Devin Carroll, CFP® & John Ross, JD

    Big Picture Retirement®

    545 Listeners

    Stay Wealthy Retirement Podcast by Taylor Schulte, CFP®

    Stay Wealthy Retirement Podcast

    674 Listeners

    Retire Smarter with Kevin Kroskey, CFP® & Tyler Emrick, CFA® CFP® by Kevin Kroskey, CFP® & Tyler Emrick, CFA® CFP®

    Retire Smarter with Kevin Kroskey, CFP® & Tyler Emrick, CFA® CFP®

    26 Listeners

    Ready For Retirement by James Conole, CFP®

    Ready For Retirement

    822 Listeners

    Retirement Planning Education, with Andy Panko by Andy Panko

    Retirement Planning Education, with Andy Panko

    1,039 Listeners

    Catching Up to FI by Bill Yount & Jackie Cummings Koski

    Catching Up to FI

    352 Listeners