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I saw my parents' retirement funds gutted by a bunch of cokehead psychos in 2008. Its very difficult for my generation to have any faith in current systems func
by tapestries 10y ago
I saw my parents' retirement funds gutted by a bunch of cokehead psychos in 2008. Its very difficult for my generation to have any faith in current systems functioning or even existing 10, 20, 30 years down the road.
- Jtsummers 10y agoIf the current system doesn't exist in 10, 20, 30 years then you've lost very little by contributing a meager 10% of your income (assuming middle class incomes, 10% isn't much), to retirement contributions. And if it is still around, then you'll be ahead of most of our peers. Regarding your parents' funds, were these pensions or investment accounts? Pensions got screwed, yes. But unless your money was being managed poorly, IRAs and such should've been fine, though temporarily low, you didn't lose any shares in your investments, just value.
- bpicolo 10y agoYeah, I think an important thing is to get your eggs our of one basket (your employer). Especially with how often this gen moves between them. 401k -> IRA -> Low cost index funds are a reasonable stepping block.