![\"Personal](\"https:\/\/www.europesays.com\/us\/wp-content\/uploads\/2025\/10\/dave-ramseys-best-tips-for-how-to-pay-off-a-mortgage-faster.jpg\")
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GOBankingRates’ editorial team is committed to bringing you unbiased reviews and information. We use data-driven methodologies to evaluate financial products and services – our reviews and ratings are not influenced by advertisers. You can read more about our editorial guidelines<\/a> and our products and services review methodology<\/a>.<\/p>\n 20 Years<\/strong> Trusted by<\/strong> When interviewed by Rebecca Mezistrano, producer of TheStreet<\/a>, personal finance expert Dave Ramsey weighed in on the biggest 401(k) plan<\/a> mistake Americans make that could be costing them millions.<\/p>\n His answer? Jumping in and out of the market.<\/p>\n \u201cThey freak out when the market goes down,\u201d stated Ramsey. \u201cThey stop, they start, they try to time the market.\u201d <\/p>\n Ramsey then noted that people trained to time the market can\u2019t even do it well \u2014 so the lay person shouldn\u2019t try.<\/p>\n Ramsey stated that those with money invested in the market do best when they ignore their emotions (be it panic or excitement), avoid reacting to short-term fluctuations and simply allow their 401(k) plans to grow untouched. <\/p>\n<\/p>\n He goes on to say that individuals trying to time the market<\/a> never keep up with steady investor. The steady investor wins every time, but do other financial professionals agree?<\/p>\n Do Other Financial Professionals Agree or Disagree with Ramsey\u2019s Take?<\/p>\n \u201cI often disagree with Dave Ramsey<\/a>, but on this point he is 100% spot on,\u201d stated Robert Johnson, chairman and CEO at Economic Index Associates<\/a>, who claimed attempting to time the market is \u201cfool\u2019s gold.\u201d \u00a0<\/p>\n Johnson cited the J.P. Morgan Asset Management\u2019s 2025 Retirement Guide<\/a> to demonstrate that over a 20-year period from Jan. 3, 2005, to Dec. 31, 2024, \u201cif you missed the top 10 days in the stock market, your overall return was cut by over 40%,\u201d and, \u201c[seven] of the best 10 days occurred within two weeks of the worst ten days.\u201d <\/p>\n Translation? The biggest market gains happen too infrequently, too unpredictably and too densely to risk pulling your money out of the market<\/a> and missing them.<\/p>\n![\"\"](\"https:\/\/cdn.gobankingrates.com\/wp-content\/uploads\/2023\/11\/icon-20.svg?webp=1&quality=75\"){kind=icon}
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