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So we're seeing so much market volatility, how is that affecting the 401ks?

It depends on what month or week you look at it, right? In December, for example, it was a crushing month. One of the worst months ever in the history of the market in December. We took a ton of phone calls from people, what should I do? Should I cash out? Should I eliminate my 401k? Take a distribution from it? Well here we are since Christmas Eve to today, the markets been up, I think close to 2000 points. So where we thought the sky was falling one month, it's decidedly different the next, your 401k plan is for long periods of investing. If you're in your 20s and 30s, there's gonna be differences in the market that are gonna be ugly at times, but it always bounces back. So you wanna have time be on your favor, the primary thing is to just keep saving. Don't look at your balances every day, or your statements every month. Because it might not make you happy that particular moment in time. But if you look at it a month later, now you're completely different. The key is just steady as you go over long periods of time, and steadily increase the amount you're putting away each year, which is an important point, because a lot of folks in 401k plans, from the time they're first eligible, they never change the percentage taken out of their pay, two, three years, four years down the road. Now you're falling behind inflation. So maybe you wanna give your 401k a raise each year. Like we have New Year's resolutions, if I've been putting away two or three percent, can I stretch it to five or six? So these little things we do along the way are gonna lead to more accumulation over time.

Worried about the market volatility? Do you know how it impacts your 401(k)?

Tom Zgainer, CEO of America's Best 401(k), sat down with TheStreet

"It depends on what month or week you look at it, right? In December, for example, it was a crushing month. One of the worst months ever in the history of the market in December. We took a ton of phone calls from people, what should I do? Should I cash out? Should I eliminate my 401(k)? Take a distribution from it? Well here we are since Christmas Eve to today, the markets been up, I think close to 2000 points," Zgainer said. "So where we thought the sky was falling one month, it's decidedly different the next, your 401(k) plan is for long periods of investing. If you're in your 20s and 30s, there's gonna be differences in the market that are gonna be ugly at times, but it always bounces back. So you wanna have time be on your favor, the primary thing is to just keep saving."

"Don't look at your balances every day, or your statements every month. Because it might not make you happy that particular moment in time. But if you look at it a month later, now you're completely different. The key is just steady as you go over long periods of time, and steadily increase the amount you're putting away each year, which is an important point, because a lot of folks in 401(k) plans, from the time they're first eligible, they never change the percentage taken out of their pay, two, three years, four years down the road. Now you're falling behind inflation," he continued. "So maybe you wanna give your 401(k) a raise each year. Like we have New Year's resolutions, if I've been putting away two or three percent, can I stretch it to five or six? So these little things we do along the way are gonna lead to more accumulation over time."

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