as a financial illiterate stuck with a 401k, what do i do? (moist.catsweat.com)

submitted 1 month ago by [email protected] to c/[email protected]

28 comments fedilink hide all child comments

as many americans forced to run with a 401k because we dont know any better and its the 'path of least resistance' to a retirement account... what do we do in the face of a dying democracy and economy?

id love to move it to some 'foreign' investments, but is that even a possible option? do i just hope and wait for stability to return at some point in the future or is it hookers and blow time?

you are viewing a single comment's thread
view the rest of the comments

[-] [email protected] 18 points 1 month ago

The whole point of having a 401k is to keep plugging away at it, slowly but surely. That way, the ups and downs affect you less, because of dollar cost averaging. If you're a ways off from retirement, your dollars now buy more shares than they did last year this time.

The expectation is that the market will rebound, and then you will gain quite a bit on what you have invested today.

On the other hand, if shit hits the fan, that money wasn't going to do anything for you anyway.

this post was submitted on 08 Apr 2025

16 points (100.0% liked)

Finance

2355 readers

2 users here now

Economic and financial news from around the world, including cryptocurrency and blockchain.

This community's icon was made by Aaron Schneider, under the CC-BY-NC-SA 4.0 license.

founded 3 years ago

MODERATORS

[email protected]