Just last week I was talking to my sister-in-law. She's a teacher and contributes to a 403b, but doesn't know what's in it. I have more research to do, but I'm pretty sure there's an account somewhere she can log into and see what's going on. It would suck to reach 65 and learn that you've been invested in treasury bonds for the last 40 years.

I get the feeling that people think late 40's-early 50's is the time to start planning for retirement. I've been talking to my nieces and nephews about opening IRAs and I just get that deer-in-the-headlights look from them.

[–] [email protected] 4 points 9 months ago (1 children)

I encountered a small scale version of this situation a few years back — my dad’s wife had a 403b that had been in cash or cash equivalents for the better part of a decade. This was mostly during the bull market too. Even investing conservatively it would have been double the value. It really drives home how important sane defaults like a target date fund can be. And also default opt in/increases/etc.

[–] [email protected] 4 points 9 months ago (2 children)

Reminds me of an old commercial I saw. https://www.youtube.com/watch?v=w1gMkw6WDXE

To be clear, I DON'T advise anyone leaving their money in a bank, there are way better places to put it. Stocks, real estate or whatever, I just hate when people put their money away and have no idea what it's doing.

[–] [email protected] 4 points 9 months ago

It’s a shame too because they’ve already done the hard part by saving.

[–] [email protected] 2 points 9 months ago

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Piped is a privacy-respecting open-source alternative frontend to YouTube.

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