Re:Analyzing the monetary component of employee benefits at ...
by closeparen on Thursday March 30, 2017 @12:38PM
(#13996856)
The only way to lose your retirement savings in a crash like 2008 is to follow a maximally wrong investment strategy like cashing out the whole thing at the bottom of the market.
People who left their 401k investments alone, or drew them down slowly, have more value in their accounts now than they did before 2008.
Perhaps it is because they don't wan't to pour what little money they have into what could likely be a black hole. $3.4 trillion[1] in retirement savings were swindled in the Big Short of 2008, and no justice was done despite the massive amount of fraud going on. And then there is Social Security, which they will never see a penny of.
There's a reason Millennials typically aren't buying houses, having kids, and investing in retirement funds. It's because they can't afford it and/or the risk is too high.
[1]http://www.pbs.org/wgbh/frontline/article/how-much-did-the-f...