8 upvotes, 1 direct replies (showing 1)
View submission: Living with no Retirement money
It didn't help when the markets tanked a few times, resulting in devastating losses of retirement savings.
This happens two- three times over your 30-40yr career, and you have to get a job at Costco after your previous employer lays you off after they decide they don't want to pay for your retirement. ( That is, if you are physically able to work in a warehouse)
https://www.cbsnews.com/amp/news/stocks-drop-recession-retirement-savings-401k-ira-3-trillion-2022/
Comment by 73DodgeDart at 06/02/2025 at 03:28 UTC
1 upvotes, 3 direct replies
A tanking stock market is only a problem if you panic sell when it crashes or if you have the bad luck and need to live off those investments while the market is down. You only realize losses when you sell while it’s down. I have lived through three market crashes in my career and my portfolio is fine - 2000 dotcom crash, 2008 GFC and 2022.