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.
There is a large portion of the population that doesn’t know anything about how 401ks work. They are told there employer will take 3% or such out of their income and put it into a 401k account, and some part of that money will be matched by the employer (varying).
Those who don’t know the market don’t touch the money, it is invested for them. So it is very possible whoever posted this is among those people. It is not always wise on their end, but if a professional can lose money investing large amounts for companies like that, so could an inexperienced person. The annual report for 2023 for my company’s investments saw loses as well. The little money I had was elsewhere so I lucked out on that part.