With the recent struggles in the stock market a fairly frequent question I get is should I start putting more money into my 401k or lower the contributions?
Personally, I started putting more money away in both my 401k and IRAs as I am investing in good quality mutual funds and they are currently at a discounted price.
People tend to follow the crowd, here is the basic mentality of the individual investor right now. Economy is bad, inflation is rising, stuff cost more, I should not invest as much.
Now I ask myself what should I do? Go 100% against what the crowd is doing! I have doubled my contributions in recent months and will continue packing away as much as I can into my retirement accounts. It is bargain time.
If you read my other personal finance articles, you will see additional investment advice of mine. What are your thoughts?