• elscallr@lemmy.world
    link
    fedilink
    arrow-up
    1
    ·
    1 year ago

    If a crash of that magnitude happens it’s not like social security would fare any better. At that point you’re talking about full scale economic disaster that affects the entire world.

    • Buelldozer@lemmy.world
      link
      fedilink
      arrow-up
      2
      arrow-down
      7
      ·
      1 year ago

      If a crash of that magnitude happens

      It doesn’t require a full scale Great Depression style meltdown, the ‘downturn’ of 2008 caused significant difficult for many, it simply requires a sharp enough retraction of Investment Capital. That retraction is already in progress as the retirement rate for Boomers escalates and more of them begin selling their stocks and bonds; either directly or through their retirement instruments like 401ks and Pensions.

      I’m not a doomer but I am fairly convinced that 401ks are a timebomb.

      • elscallr@lemmy.world
        link
        fedilink
        arrow-up
        1
        ·
        1 year ago

        401Ks are just investment accounts. They have exactly as much risk as you expose yourself to. Balance your portfolio, use index funds intelligently, don’t put all your eggs in one basket, and you’ll be fine.