If your 401K is bleeding today, like mine, find small solace in schadenfreude of Elon, Inc., losing a half-trillion in market cap. Poor Elon's worth only $789.5B.
The 'Musk selloff' deepens as Tesla and SpaceX combine for $456 billion two-day wipeout
https://www.morningstar.com/news/marketwatch/20261105309/the-musk-selloff-deepens-as-tesla-and-spacex-combine-for-456-billion-two-day-wipeout
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Jeff,
I found some solace -- but then I did the mental math, with very few, if any, bits of precision on account of my age, and concluded that my losses were probably somewhere within a huge neighborhood including the average loss for all US citizens. That made me confused. Am I the egalitarian's man in the street, or a scoundrel for being average in a group that includes so many billionaire scoundrels? Where shall I be not a stranger?
I chose years ago to not have a 401k because I didn't want my money invested in dirty companies.
@jeffjarvis I moved everything to interest-earning savings in Feb 2025. I missed out on some gains, but I still think it was a good call
@jeffjarvis
Well that's the trap of a pension plan that is taken hostage by the stock exchanges.
Let's be honest.
A general dependence on the economic wellbeing of your country cannot be avoided. But the wellbeing of the retired doesn't have to be linked to specific companies doing well.