Don't Let Your 401k Trick You Into Retiring During a Stock Rally
The stock market is up. The chances of a recession soon look slim. And the number of 401(k) millionaires has surged close to a record. It’s enough to make anyone on the tail end of a long — and maybe even not so long — career take a look around and think: Is now the time to retire?
It’s a good question, particularly after Covid-era uncertainty and 2022’s market slump left a big chunk of Americans feeling too financially vulnerable to leave the workforce. Now that stocks have been on a tear for well over a year, is there a case for seizing the boom before a bust? I called financial advisers across the US to find out. But before I get to their answers…