Should I stop contributing to my 401(k) and build up my cash?

401(k), IRAs
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October 2017
67% of people found this answer helpful

With the small amount of information you have given us, I would recommend that you put all your savings in cash at this time. The next 6 months should be about building your cushion. The more you can save the better. Your goal should be to give yourself enough time to find the next job and not having to compromise or panic...

If your cash amount is too low, you might eventually have to dip into your retirement savings which would be very costly. It is better at this point to lean on the conservative side until things get back to normal.

I hope this helps.

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