This is the actual problem with these types of retirement plans, though. People are expected to know a lot about managing the investments themselves. There’s a whole industry whose job it is to give you bad advice. The real advice is “drop it in a mix of an sp500 index fund it and bonds according to your risk level” and the rest is bullshit.
Comment on [deleted]
Dkarma@lemmy.world 2 weeks agoDude isn’t in index funds…nuff said. Mine has more than doubled since 2021
frezik@midwest.social 2 weeks ago
LifeInMultipleChoice@lemmy.dbzer0.com 2 weeks ago
There is a large portion of the population that doesn’t know anything about how 401ks work. They are told there employer will take 3% or such out of their income and put it into a 401k account, and some part of that money will be matched by the employer (varying).
Those who don’t know the market don’t touch the money, it is invested for them. So it is very possible whoever posted this is among those people. It is not always wise on their end, but if a professional can lose money investing large amounts for companies like that, so could an inexperienced person. The annual report for 2023 for my company’s investments saw loses as well. The little money I had was elsewhere so I lucked out on that part.