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?
For starters, DON'T INVEST YOUR MONEY IN STOCKS THAT COST $300 EACH FOR A COMPANY THAT ONLY LOSES MONEY.
With that out of the way, 401K is an extremely risky device. Stock market could just crash. You could get cancelled. You may decide to take out your money at the same time as everyone else only to find the bank won't let you "for your own good."
Invest in REAL ESTATE and in YOUR BRAIN.
Wonder if this'll get downvoted to oblivion. Let's see.
Yeah, no wasn't planning on jumping on the GME train.