Drops in the stock market (especially sudden ones) can make anyone feel uncertain about the safety of their savings and investments. The most important thing is not to panic or make quick decisions without understanding the implications.
Retirement savings accounts are intended to be used for long term savings over many years. As long as the money stays in your account, no taxes are paid on its growth. This is a powerful benefit when saving for a long term goal like retirement.
Taking money out of these accounts before you are of retirement age may result in owing both taxes and a potential penalty. If you have other non-retirement savings available to you, we recommend you consider using that money first.
Of course, we recognize that you may need to access your retirement account during an emergency, in which case, we will help you access your savings. Please contact support at email@example.com.