Why is there a 401k plan when everyone who invests has a potential to lose every dime that they ever invested?
To me, it is not right nor fair to invest a person’s person’s money into retiring, when one can lose it all! When a person puts their money away for retirement, shouldn’t there be some type of account where one NEVER loses their savings? I think so. There was a time(or more)when everyone who invested in their 401k plan and lost every penny.
My mom was one of them who were affected. I met others as well. She is a few years from retirement age and has nothing to secure her future. How fucking sad!