So, like many boomers, I have a 401k that represents basically my entire retirement fund. Unlike many boomers, I am under the age of 50.
I'm sure there's plenty of other millennials, and possibly even younger generations, who have simple, relatively hands-off accounts from jobs where you just diverted a percentage of your paycheck. It's not flashy or trendy, and it's kinda old-school - like the employers we got them from.
With the market being about as stable as a cement mixer full of nitroglycerin, what are we to do?
I've thrown some pocket change into the Meme War on Wall Street, but if this triggers a collapse, there goes my 'retirement' (as though that could ever happen given current trends). What should I and people like me be looking out for?
I have outright ignored my 401k since I started my career because I straight up do not understand what it is or how to interact with it. No one told me shit and just assumed I knew what to do with it. As you said, retirement is a myth, so I never worried enough to look into. Still not sure if that's a mistake or not, but I think investing in land and a home should probably take priority first.
That's probably the attitude I should take, watching it would only give me anxiety.
I just remember our shipping guy telling me about the 20k that disappeared from his 401k during 2008 when shit went sideways.