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?
One additional thing which mother Russia here didn't mention: it is legal and well-supported to hold your 401k in physical precious metals. You need a 401k provider who let's you do self-directed management, and a trustee to store the metals, and through them you buy bars and rounds on the market, to be stored by the trustee until your 401k matures. A good trustee will have your metals in a segregated vault box, and let you visually inspect it. I won't recommend a specific one, because I haven't chosen one yet.
I do stand to gain if you go for what I'm describing, and this isn't financial advice, just interesting info.