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.

  • capital@lemmy.worldEnglish
    0·
    3 days ago

    JFC. Just buy a target date fund. This post makes it clear that you don’t really know what your’re doing so please do yourself a favor and just pick a target date fund like this (or equivalent if Vanguard funds aren’t available to you) and don’t mess with it until retirement.

    If you want to take the time to learn more about what you should probably be doing, here are some resources:

    • Buttflapper@lemmy.worldOPEnglish
      0·
      3 days ago

      I’ve done plenty of research and invested in a 3 fund portfolio that my financial advisor suggested. My 401k for work is a fidelity 2050 target date fund. Why so rude?

      • vxx@lemmy.worldEnglish
        0·
        3 days ago

        How did you manage to lose money on a 3 fund portfolio, if one of its strengths is that it never underperforms the market?

        Something doesn’t add up. Sounds and looks like you gambled first and then went with a solid investment.

        Maybe it’s time to think about the capabilities of your financial advisor. Is it a friend or a professional?

      • sudoshakes@reddthat.comEnglish
        0·
        3 days ago

        If your portfolio was a Fidelity target date fund, it would not be impacted by the local industry you mention in your post.

        I also happen to know more about the details of how our retirement fund recommendations to clients works at Fidelity… because I worked there for the last 5 years.

        You are showing the results of poor selection on your part.

      • Jim@r.nfEnglish
        0·
        3 days ago

        He’s being “rude” because you’re losing faith in your fund for no reason. Thankfully you have a financial advisor. The problem is not US retirement plans, the problem is it’s only been a few years. If the target date is 2050 then assuming capitalism doesn’t collapse entirely, you’ll be fine. Look at it on the larger time scale that it is. A few bad years is normal fluctuation.

      • capital@lemmy.worldEnglish
        0·
        3 days ago

        Because you’ve come to the conclusion that “retirement in the US is a scam” evidently based on a few years of data in just your portfolio. Retirement savings is built over decades.

        I’d be curious about your specific positions contributing to this graph.