My dad has seen recently that I have taken an interest in finance and he asked me what he could do about his 401k being down.
So I said the US is currently in a recession and now you should put in more money while prices are low and use DCA (dollar cost averaging). He said why not move his portfolio to bonds for the time being because it hurts to see that his money keeps decreasing.
I personally don't know if that was a good idea or not. I just said it's hard to predict the market and buying and selling within one year might result in higher taxes. It's best to ride it out since you are only going to take the money out by 65 (50 now)
Did I say anything erroneous?