Try to resist taking money out of your 401(k) during the coronavirus pandemic, Waukesha financial adviser says

The Dow Jones Industrial Average dove 13 percent Monday.

It was the worst drop in three decades, as fears deepen that the coronavirus will throw global economy into recession.

AND THIS MORNING, WE WANT TOTALK ABOUT FINANCIAL PLANNINGFOR THE FUTURE.

EXPERTS SAYWOMEN DEAL WITH MANY WITHOBSTACLES BEFORE RETIREMENT.THIS INCLUDES LOWER PAY, AND TIMESPENT OUT OF THE WORKFORCEPARENTING.JULIA FELLO SPOKE TOA WEST ALLIS WOMAN AND HERFINANCIAL ADVISOR ON WHAT SHEPLANS TO DO WITH HER 401K.(áART ANIMATIONá)THE LATESTCENSUS DATA SHOWS WOMEN WITHCHILDREN ARE PAID ON AVERAGE,70 CENTS FOR EVERY DOLLAR AMAN MAKES.BREAK IT DOWN BYRACE AND IT SHRINKS EVEN MORE.AFRICAN AMERICAN WOMEN MAKE 62CENTS TO EVERY DOLLAR OF A MAN.AND LATIN AMERICAN WOMEN: 54CENTS TO EVERY DOLLAR.54 YEAROLD KAREN NOVINSKA (NO-VIN-SKA) SAYS SHE DIDN'T STARTGETTING SERIOUS ABOUTRETIREMENT UNTIL SHE WAS 40.SHE STARTED BY MAXING OUT HEREMPLOYER'S MATCH.(áSOTá) KARENNOVINSKA (NO-VIN-SKA) / 5413:30:10 so I'm up to about 20percent of my income into myretirement account right now1913:30:23 REPORTER: is thatdaunting or are you - ANSWER:no because its been onepercent every year and when iget a raise i don't recognizethat raise essentially i takethat money and i put it intomy retirement34- EVEN IN THELIGHT OF A PANDEMIC, SHE'S NOTCHANGING A THING.

(áSOTá)KAREN NOVINSKA (NO-VIN-SKA) /54 13:30:51 REPORTER: whatwould you tell your 22 yearold self right when yougraduated from college?50KAREN: start retirementaccount even if you can onlyput in 25 dollars a monthstart with something SHE'SGETTING PEACE OF MIND FROM HERFINANCIAL ADVISOR AT DRAKE ANDASSOCIATES TO HAVE THE MARKETCONTINUE TO WORK IN HER FAVOR.(ánatá)13:41:26 the only thingwe wanted to talk to you aboutthe lake house is possiblyrefinancing because the ratesare going downTHEIR FINANCIALADVISOR WENDY PEPERKORN ISSUPPORTING THEIR DECISION NOTTO MAKE ANY DRASTIC CHANGESRIGHT NOW TO THEIR RETIREMENTACCOUNTS.(áSOTá) WENDYPEPERKORN/DRAKE & ASSOCIATES13:21:41 REPORTER QUESTION: ifsomeone's trying to retire inthe next year i mean what ishappening?13:22:28 ANSWER: soits seeking the advice ofsomebody else trying to holdthe course if they can30REPORTER: so you're sayingdon't remove the money13:22:45 ANSWER: if they havethe stomach for it - try notto its hard to lock in thoselosses at this point thatssomething you really dont wantto do if they don't have to 52KAREN'S GOAL IS TO RETIRE INABOUT A DECADE FROM HER JOB INTHE HEALTH INDUSTRY AND HERHUSBAND WHO IS A WEST ALLISFIREFIGHTER.BUT IF THAT IS NOTPOSSIBLE SHE SAYS THEY AREBOTH READY TO KEEP WORKING.SHEHOPES THE INDUSTRY CONTINUESTO BECOME MORE FAIR FOR WOMEN.(áSOTá) WENDY PEPERKORN/DRAKE& ASSOCIATES13:33:57 i wouldhope that my daughter wouldsee more improvement in thatarea JULIA FELLO TMJ4 NEWS.