October 9th, 2008
Hopefully
the IRS will substantially up 401k maximum contribution limits this year, because though the first instinct is to panic and pull out of the markets due to massive losses, what the smart move is actually to buy more and eventually the bottom will be hit, and you will have more shares once it turns around, healing your losses and bringing more in windfall profits. To do this, we need to put more into our 401k than ever before, thus the need for a higher maximum cap. Call it dollar cost averaging, or what you will, it is wise not to go off emotions in times of turmoil, but to run of facts that the market will spring back given enough time.
