SOCIAL: money trouble!

[palak joshi]

dear social,
so a friend of mine had about 13,000$ in his 401k plan. He got a letter
yesterday saying he is on -12.8% and has lost about 3000$. He kind of lost
2000$ in one week. This way he will lose all his money. He cannot NOT INVEST
his money in an 401K right? Can anyone tell me if its wise to take the money
out, pay the penalty in taxes and put it in a safe savings account? I guess
people who have more money can wait for the economy to get better but with
small amounts its not worth taking the risk right?
thank you.
palak.
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