Comment on What the hell is this shit? Instead of pushing for the return to traditional pensions, capitalism is celebrating the idea that Millennials & Gen Z may simply never be able to stop working.

• orrk@lemmy.world ⁨1⁩ ⁨year⁩ ago

  you don’t even need a market crash, just a corrupt investor managing the fund

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  • FlyingSquid@lemmy.world ⁨1⁩ ⁨year⁩ ago

    True. Madoff wiped a lot of people out.

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• JasSmith@sh.itjust.works ⁨1⁩ ⁨year⁩ ago

  Diversify homie.

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  • FlyingSquid@lemmy.world ⁨1⁩ ⁨year⁩ ago

    I’m not a financial wizard, “homie.” It’s not my area of expertise. I wouldn’t try doing surgery on myself either.

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    • hamid@lemmy.world ⁨1⁩ ⁨year⁩ ago

      [deleted]

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      • FlyingSquid@lemmy.world ⁨1⁩ ⁨year⁩ ago

        Ah, the typical “I did it so anyone can” that I hear from libertarians all the time.

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    • JasSmith@sh.itjust.works ⁨1⁩ ⁨year⁩ 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.

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      • FlyingSquid@lemmy.world ⁨1⁩ ⁨year⁩ ago

        I have no idea what VOO means. I don’t have time to research this sort of thing. I sincerely doubt you can learn enough in a few hours on Google to ensure proper retirement investment. I think that is highly unlikely and if that is what has done it for you, you’ve just been lucky.

        Business schools in universities exist for a reason. MBAs exist for a reason.

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• CosmicCleric@lemmy.world ⁨1⁩ ⁨year⁩ ago

  It’s just as easy for a market crash to get rid of your private retirement fund.

  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.

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