April 20, 2020
The stock market high for the Dow Industrials index was on February 19th at 29,551. The low point was on March 23rd when it dropped to 18,591, which was a 37% decline – and the March monthly statements reflected most of that decline.
Since then the market has recovered about half-way, or 5,650 points to 24,241 as of today, a 30% increase from the bottom. While we watch the news getting less bad, and the market continue to recover, we want to address the question: “What to do if you are in employment transition”.
If you or someone you know is in a state of transition, whether having been laid off or changing vocations, we understand the additional challenge in times of uncertainty. Once you know that your immediate needs are handled, one of the most important decisions that often gets delayed is what to do with old retirement accounts?
Old 401(k)’s, 403(b)’s, or TSP’s can sit unmonitored or without professional guidance for YEARS. By moving your retirement accounts into a Rollover IRA*, you will have more investment options and active monitoring and management which could increase the returns of your investments for your future.
Please contact us if you are in this state of transition or if someone you know finds themselves in a similar situation. We will talk over the options and discuss what might make the most sense. This will be one less decision you will need to worry about going forward.
Please stay healthy, and don’t hesitate to contact us if you have any questions or concerns. For more information also check out our videos at www.southwestinvestmentadvisors.com/video.
The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.
Submitted by Southwest Investment Advisors on April 20th, 2020