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.
One thing to consider. When the stocks that are part of a mutual fund drop… then your retirement contributions will be buying them on sale.
Assuming the mutual funds are spread out to minimize risk (1 of the funds companies folds, etc) overall you’ll be better off long term.
As you age you’ll start moving your investments to more stable options (talk to a financial adviser on the specifics for your plans). This way they that won’t benefit from huge gains but also are a lot less likely to be wiped out by massive drops.
In the meantime look at how your funds are doing over time. Not even year to year but maybe every 2 or 3 years.