My retirement fund that I just started was worth $15k in December of 2021. Then, May of 2022, our area was hit really hard. My retirement plan went down to $7k. Today, it’s worth $11k. I lost $4k on my retirement plan. It’s invested in total market funds, some tech, some big cap companies, and healthcare. But every sector has been ravaged by the stock market changes.
A 401k isn’t mandatory. If you’ve got an issue with having a 401k, you don’t need to do so. I suspect, however, that you’ll be hard-pressed to find a route that will provide long-term returns as solid as regularly dropping funds into an index fund in a 401k.