COLUMBUS, Ohio -- October was a rough month for some investors, but financial experts say there's no need to worry about the stability of your 401(k).

  • You can contribute as much as $19,000 to your 401(k) in 2019
  • IRA contribution limits were increased to $6,000 in 2019
  • Federal Reserve projects it will raise interest rates in 2019.

Hamilton Capital Management CEO Matt Hamilton says the stock market was more volatile last month, but that it’s common and it happens a couple of times a year.

“Price has gotten really high for a lot of assets and even though earnings have been good, the economy has been good, they didn't meet all the expectations investors were hoping for," Hamilton said.

Although some financial experts have warned a recession is looming, Hamilton believes that chance is remote, at least over the next nine months.

“The Federal Reserve is raising rates, which causes an economy to slow. We also have rising wages. However, they're not at any level where we think they're going to cause a recession," says Hamilton.

Since 2009 the S & P 500 has quadrupled, gaining more than 16 percent annually. Corporate earnings remain strong and the U.S. is currently in the midst of the longest bull market run in history.

The IRS announced that employees can contribute as much as $19,000 per year into their 401k plan, up from $18,500.

Although there's no perfect answer to when you just start investing, Hamilton says to try and put as much away as early as you can.

“Sometimes it’s going to hurt and you have to make some sacrifices to do it, but the longer that you can put that money to work for you the better off you'll be,” said Hamilton. 

Hamilton said he expects the economy to grow through 2019 and how that translates into the financial markets depends on the strength of the economy.