CCL@links.hackliberty.org 6 months ago
As a worker I don’t like the idea of a pension. It’s too easy for some future regime to just get rid of my retirement fund. As long as wage slavery exist I would rather own my own retirement plan.
CCL@links.hackliberty.org 6 months ago
As a worker I don’t like the idea of a pension. It’s too easy for some future regime to just get rid of my retirement fund. As long as wage slavery exist I would rather own my own retirement plan.
FlyingSquid@lemmy.world 6 months ago
It’s just as easy for a market crash to get rid of your private retirement fund.
orrk@lemmy.world 6 months ago
you don’t even need a market crash, just a corrupt investor managing the fund
FlyingSquid@lemmy.world 6 months ago
True. Madoff wiped a lot of people out.
JasSmith@sh.itjust.works 6 months ago
Diversify homie.
FlyingSquid@lemmy.world 6 months ago
I’m not a financial wizard, “homie.” It’s not my area of expertise. I wouldn’t try doing surgery on myself either.
hamid@lemmy.world 6 months ago
It is orders of magnitudes easier to manage your own finances after a few days of reading than becoming a doctor lol. Bankers don’t really do all that much.
JasSmith@sh.itjust.works 6 months ago
Diversification isn’t brain surgery. It just means buy different things. Put some into a savings account, some into your retirement account, and some shares of VOO. Consider property, gold, bitcoin, bonds, and whatever else floats your boat. Spend a few hours on Google and you’re good to go. You can obviously read and you have the internet so you’ll have no issues with any of this.
CosmicCleric@lemmy.world 6 months ago
You don’t lose it all though, at least eventually it’ll recover, to the range of somewhat to total amount of the loss.
If it crashes five minutes before you want to retire, then yeah you’re screwed. That’s why you try to have a balanced retirement plan.