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.
You should have a nest egg by then that even in a crash, a year of withdrawal isn’t significant
I’ll let the vast majority of Americans who can’t afford to save up a nest egg because of wealth inequality that they are doing it wrong.
Also the ones who choose to retire because of medical issues who have to spend any money not in a retirement account before insurance pays out that they did it right, but they are fucked anyway.
The system is shit even if there are ways for the well off to work around it.